Pakistan has introduced new regulations aimed at accelerating the adoption of electric vehicles (EVs) and expanding the country’s EV charging infrastructure as part of its goal to have 30% of vehicles running on electric power by 2030.
To support this transition, Prime Minister Shehbaz Sharif announced a 44% reduction in electricity rates for EV charging stations.
See also: Pakistan to Cut Power Tariff for EV Charging Stations by 45% to Boost Adoption
Additionally, the government has implemented a fifteen-day fast-track registration process for new charging stations, streamlining infrastructure development.
A key element of Pakistan’s strategy is the conversion of ten million motorcycles to electric, a move the government estimates could save $6 billion annually by reducing fuel imports. However, details regarding subsidies or financial incentives to facilitate this shift have not been disclosed.
Efforts to build out charging infrastructure are already underway. In September, Pakistani firms Malik Enterprises and Indus Valley partnered with China’s ADM Group to install 3,000 charging stations nationwide.
Additionally, Chinese EV giant BYD is expected to establish a factory in Pakistan in mid-2024, reinforcing the country’s ambitions to develop a domestic EV industry.
Source: Dailytimes.com.pk
