The Ministry of Industries and International Finance Corporation (IFC) have signed a cooperation agreement to promote investment in electric two- and three-wheeler vehicles (e-2/3Ws).
To help accelerate the adoption of electric mobility in Pakistan, this advisory project will support policy, regulatory, and standards-related reforms to create an enabling environment for investment across the e-2/3Ws value chain, helping to fill market gaps and remove legal and regulatory barriers.
As part of the partnership, IFC will provide technical implementation support and work with key regulators – including the Engineering Development Board (EDB), National Energy Efficiency and Conservation Authority (NEECA), and Pakistan Standards and Quality Control Authority (PSQCA) – to build institutional capacity and streamline the development of the e-2/3Ws market in Pakistan.
"A conducive policy and regulatory framework will encourage local manufacturing and enable the uptake of electric two- and three-wheeler vehicles," said Haroon Akhtar Khan, Special Assistant to the Prime Minister for Industries and Production Division. "Without improving this framework, it is highly unlikely that the national targets set for electric vehicle adoption will be met."
Khan emphasised the need for concerted action to catalyse the adoption of electric vehicles in the country. He noted that priority should be given to e-2/3Ws and electric buses, given their prevalence and socio-economic importance. Key strategies include strengthening coordination and clarifying the policy environment, reducing capital costs through localisation and aggregated procurement, and unlocking affordable commercial financing through risk-sharing instruments.
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