EV policy for 4 wheelers on the cards

Federal Minister for Science Technology Fawad Chaudhry has revealed during an interview that ‘EV Policy for 4-Wheelers’ is on its final stages and will soon be approved through a presidential ordinance.

Minister said that the public would be able to avail cheaper transport facilities under this new policy as PTI led government is promoting EVs in the country. Electric Vehicle (EV) policy for four-wheelers will be outlining several new rules related to import and export of vehicles, taxation, registration, and customs duty.

It is being pointed out repeatedly that Infrastructure development the important factor for the successful implementation of the EV policy. The charging stations along with new workshops infrastructure especially designed for EVs are very important for enhancing local manufacturing capabilities. More investment will be required in this area of interest for the successful transformation of the auto industry with a long history of engine growth. It will play a dynamic role in employment generation along with a positive impact on the environment in the overall context of socio-economic changes.

A senior journalist recently revealed that Elon Musk’s Tesla, the premium EV manufacturing company in the world is also eyeing the Pakistani market and a meeting with the Prime Minister is also being planned although no further details were given.

A major issue which was recently raised was that the cost of EVs might end up being more than the conventional gasoline vehicles. This might be true for the initial period but it will come down once the local production starts and R&D is directed towards manufacturing cheaper battery packs. It is expected that the cost of EVs would be comparable with the cost of FFVs (Fossil Fuel Vehicles) by the end of 2025.