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Wednesday September 28, 2022

Govt set to move forward with EV policy

By Our Correspondent
August 20, 2022

Islamabad : The government is all set to move forward with National Electric Vehicles Policy (NEVP) that can not only further climate goals and help with the dangerous air pollution problem but also has the potential to breathe new life into national economy.

According to the details, the climate change ministry has enhanced its coordination with the relevant ministries to implement the NEVP and achieve targets set in it within stipulated timeframe.

Under the policy, the government would take measures to ensure electric vehicles capture 30 per cent per cent of all the passenger vehicle and heavy-duty truck sales by 2030, and 90 per cent by 2040. The policy sets even more ambitious goals for two- and three-wheelers and buses; 50 per cent of new sales by 2030 and 90 per cent by 2040.

The government in December last year slashed customs duty on the import of EVs completely built-up (CBU) to 10 per cent from 25 per cent; while customs duty on specific parts of electric vehicle motorcycles, three-wheelers, and heavy commercial vehicles was set at one per cent .

The EV industry has the potential to contribute significantly to the economy by saving precious foreign exchange and generating thousands of jobs in the country.

An official of the climate change ministry has said “The government will provide support to build charge infrastructure including fast chargers and powerlines in order to make sure they are always available in all parts of the country.”

He said that they would focus on improving EV charging infrastructure and safety in coordination with the private sector.

“We will create and strengthen monetary incentives policies. Even though EVs, although they are now a commercial product in some markets, are still in its early stages. It is essential that the government continues to provide substantial support to promote use of EVs in the country,” he said.

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