Engineer Asim Ayaz of the Engineering Development Board informed experts during a webinar on Pakistan’s Electric Vehicles’ Market Potential hosted by the Sustainable Development Policy Institute (SDPI) on Monday that the Ministry of Industries and Production has granted licenses to 34 two- and three-wheeler companies for the manufacturing of electronic vehicles (EVs), while other private partners are also venturing into EV manufacturing.
He emphasized that the present problem, given that EVs are more expensive than fuel-based vehicles owing to the expense of batteries, is the absence of financing options for consumers at the national level. According to him, the Ministry is suggesting that each gas station have an EV charging station.
The National EV Policy is good in terms of tariff, according to the Ministry’s comparison with Malaysia and other countries, however we needed funding sources and financing options. Ayaz continued, “We are closely collaborating with LUMS and other industry partners to promote the adoption of EVs.” Better coordination between the Ministries and pertinent agencies is essential for the efficient execution of policies and the cascading tariff system, according to Engineer Ayaz.
During a webinar on the potential market for electric vehicles in Pakistan, experts stated that converting fuel-powered cars to electric vehicles (EVs) would be difficult without an efficient financing source and stakeholder cooperation between the public and private sectors.
An online discussion on “Pakistan’s Electric Vehicle Market: Challenges, Opportunities, and the 2030 Agenda” was arranged by SDPI as part of their Monday webinar series.
