Islamabad: The federal government on Monday publicised its decision to involve all stakeholders in its efforts to design an Electric Vehicle (EV) Policy geared for attracting investments, a news source reported.
As per the publication, Adviser to Prime Minister (PM) for Commerce and Investment Abdul Razak Dawood chaired a meeting on the EV Policy and advocated for it to be transparent — for the benefit of both investors and consumers. However, he added that the existing policies of the automobile sector had to be left functional as consistency in policies gave confidence to investors.
Adviser on Industries and Production said that the EV Policy was needed to protect the environment. Its success will depend on ensuring safety protocols and promoting local production and assembly of electric vehicles, he added.
Previously, the Economic Coordination Committee (ECC) of the federal Cabinet had discussed the EV Policy on March 26. The ECC had set up an inter-ministerial committee to gather proposals in 30 days on a special incentive package for the National Electric Vehicle Policy (NEVP). The incentive package is expected to introduce electric vehicles into the country and render their costs affordable by manufacturing and assembling them locally.