According to the draft Electric Vehicle Policy (EVP), opting for electric vehicles can save Pakistan an estimated Rs. 109.6 billion every year.
The policy draft has been prepared by the Climate Change Ministry on the orders of Prime Minister Imran Khan. According to the draft, using electric vehicles will bring a lot of benefits to the country’s economy.
One of the significant benefits of electric vehicles is that they are fuel-efficient. Saving on fuel will drastically reduce the fuel import bill and will help strengthen the balance of payments.
The saving on fuel, as a result of using electric vehicles, is estimated at Rs. 54.5 billion per year. The draft policy aims to increase the number of Electric Vehicles (EVs) sold in Pakistan to over 90 percent by 2040.
The electric vehicle policy prepared by the Ministry of Climate Change has set multiple targets including the sale of 100,000 electric cars, vans, jeeps and small trucks in the next five years. The ministry aims to increase the number to 60,000 electric vehicles sold annually by 2030.