The Pakistani government raised fuel prices to an unprecedented level to meet the prerequisites for economic sustainability and fulfil IMF requirements to get tranches of loans. The government cut down working hours and fuel provided to government offices to reduce petroleum consumption.
To further reduce dependence on petroleum products, we should shift towards electric vehicles, which are eco-friendly and have lesser environmental effects. They emit fewer greenhouse gases and air pollutants, have low maintenance costs, and are generally cheaper than petrol and diesel cars. They can be easily charged by electricity or solar energy and can store energy in rechargeable batteries.
By replacing conventional vehicles with electric vehicles, we can save forex reserves used for oil imports. The government should devise strategies to launch electric vehicles in the automobile industry. Foreign companies should be welcomed and facilitated to establish local assembling units to maximise the production of electric vehicles.
Published in The Express Tribune, August 14th, 2022.