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Electric Vehicle Prices to Get a Major Decrease Under New Policy

The federal government is expected to approve the long-awaited National Electric Vehicle (NEV) Policy next week, marking a major step toward promoting clean and sustainable transportation in Pakistan.

According to officials, the draft policy—developed by the Ministry of Industries in consultation with key stakeholders—has already been submitted to the prime minister. Once approved, it will be presented to the federal cabinet for final endorsement and implementation.

The policy sets an ambitious target: ensuring that over 30% of all new vehicles sold in Pakistan by 2030 are electric.

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As part of the initiative, the NEV policy proposes significant financial incentives:

  • Rs. 50,000 subsidy for each electric motorcycle
  • Rs. 200,000 subsidy for each electric three-wheeler (rickshaw)
  • A total allocation of Rs. 4 billion has been set aside for these subsidies.

The policy also includes incentives and infrastructure support for setting up electric vehicle charging stations across the country.

On Thursday, Haroon Akhtar Khan, the Prime Minister’s Special Assistant, held a meeting with a delegation from COMSATS to discuss the development of EV technology and the retrofitting of conventional motorcycles with electric systems.

The meeting included senior officials such as Industries Secretary Saif Anjum, COMSATS Executive Director Nafees Zakaria, and Engineering Development Board CEO Khuda Bakhsh Ali.

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Published by
Arsalan Khattak