ISLAMABAD (Kashmir English): The number of electric vehicles in Pakistan has crossed 76,000, and the target of 30% sales of modern vehicles by 2030 has been set.
A meeting of the National Assembly Standing Committee on Finance, chaired by Syed Naveed Qamar, was held in Islamabad.
During a detailed discussion on the electric vehicle policy in the meeting, the chairman of the committee said that there are contradictions in the policy because after the budget approval, a tax was imposed on hybrid vehicles, while two- and three-wheeled vehicles were exempted.
The Secretary of Industries and Production said that the IMF has agreed to the policy, financing of $ 1.4 billion, and a grant of $ 1.8 million is being provided by the IFC.
The Secretary of Industries and Production told the committee that the electric vehicle policy will save one billion dollars in oil imports, reduce the health costs of Pakistanis by $450 million, and by 2024, more than 76,000 electric vehicles will be available in Pakistan.
Various international companies are coming to Pakistan to produce electric vehicles.
The target for the sale of electric vehicles by 2030 has been set at 30 percent, and a target of establishing 3,000 charging stations has been set.
He said that there will be a subsidy of Rs. 80,000 on an electric motorcycle worth Rs. 250,000. The unit price for charging stations has been reduced from Rs. 92 to Rs. 39.7.
The owners of charging stations have been given the authority in this regard. They can charge their own price. The institution will regulate charging stations.
The Secretary of Industries and Production said that electric motorcycles and rickshaws are moving forward very fast.
This year, a target of one lakh two and three-wheeler electric vehicles has been set, for which seven times more applications have been received.
A large number of applications have been received from Punjab, and the manufacturing of electric vehicles at the local level is being encouraged.
He said that regulations will be issued for charging stations, batteries will also start being manufactured locally in the next year, and parts will be manufactured 100 percent locally in two years.
If spare parts are not manufactured locally in two years, then the subsidy will not be provided.
