Pakistan Aims For 30 Percent Electric Vehicles On Road By 2030

Pakistan Aims For 30 Percent Electric Vehicles On Road By 2030
The flagship initiative of the government with the title of National Electric Vehicle Policy (NEVP) was approved by the Cabinet in November, 2019 under the Ministry of Climate Change, according to the economic survey for the fiscal year 2023. Minister for Finance Ishaq Dar presented the economic survey.

This initiative reflects net benefits in the range of US$ 2.2 billion to US$ 3.7 billion as net savings in Pakistan’s oil import bill, under different scenarios in the 2020 to 2030 time period, according to the economic survey document available with TFT.

“There are benefits on account of job opportunities; potentially creating 35,000 to 40,000 jobs, reduction in emissions and air pollution/smog, associated health benefits, as well as long-term economic benefits by establishing local manufacturing units,” says the draft economic survey.

It reveals that the Economic Coordination Committee (ECC) of the federal cabinet has approved a scheme of e-bikes and e-rickshaws. Under this scheme up to three hundred thousand e-bikes and e-rickshaws will be given to students, employees and low-income groups through easy installments for a period of three years at zero percent interest rate.

This scheme will be extended to the second phase. By adoption of e-bikes and e-rickshaws oil import bills will be reduced significantly. Currently, almost 45% of Pakistan's total oil import is used for motorbikes, passenger and loader rickshaws costing around US$ 4.1 billion per annum.

The document further revealed that the pre-budget document showed that the National Tree Plantation Campaign 2022 was launched on August 14, 2022 and more than 181 million trees have been planted.

Under the 10 Billion Tree Tsunami Programme, an amount of Rs 3,296.683 million (including both PSDP and ADP) had been utilised during July-March FY23 and 188.41 million plants were planted, regenerated, and distributed. Over 2,027 million plants have been planted, regenerated, distributed till March 2023, the document mentioned.