ISLAMABAD – The number of electric vehicles (EVs) in Pakistan has surpassed 76,000, while the government has set a target of 30% EV sales by 2030.
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, the committee chairman noted inconsistencies in the policy, saying that taxes were imposed on hybrid vehicles after budget approval, while two- and three-wheeler vehicles were exempted.
The Secretary of Industries and Production informed the committee that the IMF has endorsed the policy, providing $1.4 billion in financing, along with a $1.8 million grant from the IFC.
He added that the EV policy will save $1 billion in oil imports and reduce health-related costs by $450 million. Over 76,000 electric vehicles are already in use across Pakistan, and several international companies are entering the market to establish local EV production. The government also aims to set up 3,000 charging stations nationwide.
The secretary said that a subsidy of Rs. 80,000 will be provided on an electric motorcycle worth Rs. 250,000. The electricity rate for charging stations has been reduced from Rs. 92 to Rs. 39.07 per unit, with station owners allowed to set their own prices under regulatory oversight.
He further stated that electric motorcycles and rickshaws are growing rapidly, with a target of 100,000 two- and three-wheelers set for this year — receiving seven times more applications than expected, particularly from Punjab. The government is encouraging local EV manufacturing, and battery production is expected to begin locally within a year.
Within two years, 100% of EV parts are planned to be manufactured domestically; however, subsidies will be withdrawn if local production of spare parts is not achieved within that timeframe.
