Pakistan is the second developing country in the world, after India, to introduce an electric vehicle (EV) policy in the region.
This was revealed by the Adviser to the Prime Minister on Climate Change Malik Amin Aslam while addressing a press conference after the second inter-ministerial committee on EV policy.
The adviser refuted the news of the EV policy being rejected by the Engineering Development Board (EDB) of Ministry of Industries and Production (MoIP).
He said that there is no new policy being drafted by the ministry rather the earlier draft approved by the federal cabinet will be revised with further amendments redressing the concerns of the representatives of Pakistan Automotive Manufacturers Association (PAMA) and Pakistan Association of Auto Parts and Accessories Manufacturers (PAAPAM).
“We want to implement the policy approved by the federal cabinet owing to its huge benefits and increasing competition.” Amin Aslam said, adding that there are four main benefits of the EV policy as EVs will run at a 70 percent lower cost than its fuel-based counterpart.
The federal cabinet had approved the draft of the EV policy however, meetings are being held for mulling over incentive packages to be approved by the Economic Coordination Committee (ECC).
The adviser said:
The policy has the vision to promote ‘Made in Pakistan’ EVs where indigenous production can be promoted to make the country exporting hub of EV in the region. Today’s meeting has decided to give incentives to two and three-wheelers (automobiles) comprising rickshaws, motorcycles, and buses whereas the automobile manufacturers are raising concerns over four-wheeler cars. We have given them 15 days to submit their output to be incorporated in the policy.
Amin added that India had introduced another EV policy last week to enhance its incentives for EVs and attract investors.
India is offering Rs. 15,000 cash for buying an electric bike, Rs. 30,000 for rickshaw and Rs. 150,000 for purchasing electric cars. EVs have many advantages and this policy would help create jobs, investment, and business opportunities. There are many opportunities for Pakistan under the EV industry as it will help reduce import oil bill and help save around US$1 billion whereas 70 percent of air pollution would be curtailed through electricity run automobiles. The transport sector is consuming most of the fossil fuel being imported and generating a major chunk of air pollution.