Pakistan introduces EV Policy to support the new industry
Climate change is wreaking havoc across the world and many countries, including Pakistan, want to tackle it. Pakistan is among the top five countries most affected by climate change.
In an effort to play its part, Pakistan has formed an Electric Vehicle Policy to facilitate the transformation of the transport sector from fuel-based motorcycles, cars, buses and trucks to electric vehicles. The policy gives incentives on duties and taxes to help businesses start industrial assembly. Pakistan hopes to electrify 30% of the total vehicles in the country by 2030.
According to the Ministry of Climate Change, 42% of the air pollution in the country comes from traffic. Electrifying 30% of the vehicles could save Pakistan approximately $2 billion on oil imports every year.
EV Technologies Consultant CEO and the person representing SZS Group in the joint venture with POF Wah for assembling electric buses, Shaukat Qureshi said electrification of cars will help reduce carbon emissions that trigger climate change and lower dollar import bills. He claims that according to a study his organization conducted, a motorcyclist switching to an EV bike will save Rs4,000 on fuel, electric car user can save up to Rs25,000 and EV bus companies can save between Rs600,000 to Rs900,000 monthly. He says a lithium battery serves as fuel for EVs and they now have a life of above five years and charging costs very little.
He added that an electric car comparable to hatchbacks Alto and Cultus, under the present duty and tax regime after the introduction of the EV Policy, can cost as low as Rs1.2 million.