‘Chinese investors eye EV market’

LAHORE: Engineering Development Board (EDB) CEO Raza Abbas Shah on Thursday said a large number of Chinese investors were waiting for approval of policies for EV bikes, fans, and LED lights in Pakistan, as they intended to initiate projects in those fields.

Talking with the president and executive committee members of Lahore Chamber of Commerce and Industry (LCCI), Shah informed that the government was going to present the LED lights policy by July and a policy for fans would also be tabled soon. Manufacturing and installation of fans above 80 watts would not be allowed, he added.

EDB CEO stated that the board had come up with a proposal to subsidise a certain number of EV bikes. “We have also issued 23 licenses for EV bikes as this is a new technology,” he said, adding that the strategy was to subsidise a certain number of bikes in order to bring them on roads. “It will also develop related industries like lithium batteries and the motor industry.”

Shah further said the solar policy was on table and to be approved by March 31, 2023. EV bikes policy was being submitted to ECC, he informed.

He informed that the board would also share its solar policy draft with LCCI to add their suggestions. “A number of Chinese manufacturing companies are waiting for a policy to invest and this policy will make it feasible to bring that industry to Pakistan.”

EDB CEO emphasised on increasing the exports, saying, “We cannot do much on the sales and the custom duty as these are now the domain of the ministry of Commerce. Our target is that the industry should not be coming to the government for licensing and approvals.”