EV adoption could save $2b in oil imports

PCJCCI calls for charging network, China cooperation to support electric mobility

LAHORE:

Pakistan could save up to $2 billion by 2030 by accelerating the adoption of electric vehicles (EVs), which could significantly reduce dependence on imported oil and support environmental sustainability, according to the Pakistan China Joint Chamber of Commerce and Industry (PCJCCI).

The issue was discussed during a think tank session held at the PCJCCI Secretariat, where participants highlighted the growing importance of electric mobility in addressing Pakistan's economic and environmental challenges.

PCJCCI President Nazir Hussain said the transition toward EVs would help lower the country's oil import bill and assist Pakistan in meeting its climate commitments. He said the government's efforts to introduce a favourable tariff regime for EVs would encourage consumers and investors to shift toward electric mobility. He added that wider adoption of EVs could reduce carbon emissions by up to 1.54 metric tonnes, describing it as an important step in addressing climate change.

Hussain also stressed the need to benefit from technological cooperation with China under the China-Pakistan Economic Corridor, particularly in EV manufacturing, battery technology and charging infrastructure.

Senior Vice President Brig Mansoor Saeed Sheikh (Retd) emphasised the need for a nationwide network of EV charging stations.