Plan unveiled to adopt 30% EVs by 2030

Rana Tanveer says new policy aims to control pollution, cut oil imports

ISLAMABAD:

Minister for Industries and Production Rana Tanveer Hussain on Wednesday unveiled the government's ambitious plan to shift 30% of transportation to electric vehicles (EVs) by 2030 to promote an environment-friendly system.

Addressing a press conference, the minister stated that the plan involves transitioning two-wheelers, three-wheelers and four-wheelers to EVs, with the goal of reducing the environmental impact and easing the financial burden of fuel costs.

The minister said that many countries are currently using EVs and the demand is increasing due to new technology, which offers manifold advantages and benefits.

He highlighted the commitment of the government to launch a new EV policy (2025-30) to control air pollution and reduce oil imports, adding that Prime Minister Shehbaz Sharif had directed that policy focus must be on incentives and affordable prices for consumers.

The minister said that currently, two licences have been issued for the manufacturing of EVs and around 31 investors have applied for licences.

The government has given many incentives to foreign companies to build plants in Pakistan. Currently, Dewan Motors, an EV company, is operating in the country and launched a car this year, with plans to introduce a second car by next year. "Pakistan is now in a position to export two- and three-wheelers."

He revealed that the government had earmarked Rs4 billion for two- and three-wheeler subsidies. A subsidy of Rs50,000 will be provided for motorcycles and Rs200,000 will be provided for three-wheelers to reduce costs.

The subsidy is valid for 40,000 motorcycles while 120 free bikes were given to top students from Islamabad, all four provinces, Gilgit-Baltistan, and Azad Jammu and Kashmir. Besides, the government has also engaged banks to offer soft loans. The new policy has been developed in consultation with all provinces and stakeholders.

The first draft of the policy has been developed through comprehensive consultation with stakeholders, including EV manufacturers, provincial representatives and ReMIT consultants.