ByIslamabad, Pakistan: The Government of Pakistan has taken a significant step towards a greener future by initiating consultations for the New Energy Vehicle (NEV) Policy 2025-30. This ambitious policy aims to reduce carbon emissions, promote sustainable transportation, and attract investment in the electric vehicle (EV) sector.
Key Incentives and Measures:
- Tax Breaks and Lower Import Duties: The policy proposes significant tax breaks and reduced import duties on electric vehicle parts and fully built units to make EVs more affordable for consumers.
- Green Financing: The government will provide incentives for green financing options to encourage investment in electric vehicle technology.
- Charging Infrastructure: The policy mandates the installation of charging stations across the country, with Oil Marketing Companies (OMCs) required to install Level 3 chargers at 10% of their stations.
- Local Manufacturing: The government aims to promote local manufacturing of EVs and their components by offering incentives and support to domestic manufacturers.
- Battery Recycling: The policy includes provisions for battery recycling standards and incentives for setting up recycling centers.
- Heavy Commercial Vehicles: The government plans to reduce customs duties on heavy commercial EVs to promote their adoption in the logistics and transportation sector.
By implementing these measures, the government hopes to accelerate the adoption of electric vehicles, reduce dependence on fossil fuels, and improve air quality. This policy aligns with the global trend towards sustainable transportation and positions Pakistan as a leader in the region in terms of electric vehicle adoption.
