Pakistan is set to save nearly $1 billion annually after its nationwide transition toward electric vehicles (EVs), according to the Ministry of Industries and Production. The shift aims to cut dependency on imported oil while promoting cleaner, sustainable transportation. This initiative marks one of the country’s most ambitious energy reforms, designed to stabilize the economy and reduce environmental pollution.
Government and Global Support
During a briefing to the National Assembly Standing Committee on Finance, officials revealed that the International Monetary Fund (IMF) has endorsed the policy and extended $1.4 billion in financial support to aid its implementation. Additionally, the International Finance Corporation (IFC) has provided a $1.8 million grant to help develop EV infrastructure.
The government has already rolled out multiple incentives to encourage adoption. These include a PKR 80,000 subsidy for electric motorcycles priced around PKR 250,000, and a significant reduction in electricity tariffs for EV charging—from PKR 92 to PKR 39.7 per unit.
Targets and Implementation Plan
Pakistan currently has over 76,000 EVs in use, with plans to scale rapidly. The government aims to establish 3,000 charging stations nationwide by 2030, while targeting 30% of all new vehicle sales to be electric within the same period. Over PKR 100 billion in subsidies will be distributed over the next five years to sustain momentum and affordability.
Health and Environmental Benefits
Officials project that the widespread adoption of EVs could lower Pakistan’s healthcare costs by up to $450 million annually due to reduced air pollution and related respiratory diseases. Cleaner air and quieter cities are expected to bring substantial quality-of-life improvements to urban populations.
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Industry Growth and Future Prospects
The EV policy also opens the door for international manufacturers to set up local production facilities, generating employment and strengthening Pakistan’s industrial base. However, challenges remain, including the need for consistent infrastructure expansion, power grid management, and policy clarity.
“The policy was introduced after the federal budget’s approval and contained certain contradictions that needed clarification,” said Syed Naveed Qamar, chairing the finance committee.
If implemented effectively, Pakistan’s EV shift could become a cornerstone of both economic resilience and environmental progress, steering the country toward a more sustainable and energy-efficient future.
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