Islamabad: Pakistan is set to transform its transportation sector by aiming to power 30 percent of its vehicles with electricity by the year 2030. This ambitious target is part of the country’s broader efforts to promote the Electric Vehicles (EV) industry and establish the necessary infrastructure for EV charging stations. The initiative is being facilitated by the Special Investment Facilitation Council (SIFC).
According to Radio Pakistan, the introduction of rules and regulations for the EV industry marks a first for the nation, with the SIFC playing a pivotal role in these developments. The plan encompasses the local manufacturing of electric vehicles, including motorcycles, and the establishment of charging stations across the country. Prime Minister Muhammad Shehbaz Sharif has further incentivized this shift by announcing a substantial 44 percent reduction in electricity rates specifically for EV charging stations.
The government has streamlined the process for setting up charging stations, reducing the registration time to just fifteen days. This move is expected to attract both domestic and foreign investors, significantly boosting the country’s economic prospects. A major component of the initiative involves converting ten million motorcycles to electric power, a shift projected to save Pakistan around six billion dollars annually.
Beyond economic benefits, the transition to electric vehicles is anticipated to enhance the local industry and conserve foreign exchange. Moreover, the establishment of EV infrastructure is expected to yield environmental benefits by significantly reducing carbon emissions, contributing to improved air quality and a healthier environment for the citizens of Pakistan.