{"id":100596,"date":"2024-11-22T12:46:57","date_gmt":"2024-11-22T07:46:57","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=100596"},"modified":"2024-11-22T17:28:16","modified_gmt":"2024-11-22T12:28:16","slug":"30-electric-vehicles-by-2030-under-nev-policy","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/30-electric-vehicles-by-2030-under-nev-policy.html","title":{"rendered":"New EV Policy: Pakistan targets 30% electric vehicles by 2030"},"content":{"rendered":"\n<p>Islamabad: Federal Minister for Industries and Production Rana Tanveer Hussain has unveiled the New Energy Vehicle (NEV) Policy, which aims to transition 30% of Pakistan&#8217;s vehicles to electric power by 2030. Speaking at a press conference, the minister emphasized that all stakeholders had been consulted in drafting the policy, which is designed to reduce reliance on expensive fuel imports and promote sustainable transportation.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/cda-anti-smog-strategy.html\" target=\"_blank\" rel=\"noreferrer noopener\">Zero-tolerance policy on emissions: Capital\u2019s smog strategy unveiled<\/a><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>The policy introduces several incentives, including subsidies of PKR 50,000 for electric motorcycles and PKR 200,000 for electric rickshaws, with a total allocation of PKR 4 billion. These subsidies will be distributed through an auction system, and licenses have already been issued to two companies, with 31 more applications under review. Among the licensed firms is BYD, a leading global EV manufacturer.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>The government plans to develop robust EV infrastructure to support the transition, identifying 40 sites along the Peshawar-Karachi Motorway for charging stations. By 2030, 3,000 charging stations are expected to be operational, offering electricity at subsidized rates. Additionally, duties on EV components have been reduced to encourage local manufacturing.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/smog-generating-activities-banned-across-punjab.html\" target=\"_blank\" rel=\"noreferrer noopener\">PDMA bans smog-generating activities across Punjab amid health crisis<\/a><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>The NEV policy also includes financing measures, such as reducing the policy rate from 22% to 15%, with loans available at 3% KIBOR. Consumers can expect to pay monthly installments of approximately PKR 9,000 over two years, lower than the projected savings on fuel costs.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>However, the Pakistan Automotive Manufacturers Association (PAMA) has raised concerns about the policy\u2019s potential impact on the local auto industry. In a letter to the Engineering Development Board, PAMA warned that lower duties on Completely Built Units (CBUs) could harm Original Equipment Manufacturers (OEMs) and their suppliers, disrupting the growth of the domestic auto sector.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>Minister Hussain dismissed these concerns, highlighting that the International Monetary Fund (IMF) had no objections to the subsidies and tax exemptions under the NEV policy. He stressed that the initiative is critical for reducing fuel dependency and fostering economic growth.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/incentives-announced-for-electric-vehicle-parts-importers.html\" target=\"_blank\" rel=\"noreferrer noopener\">Incentives announced for electric vehicle parts importers<\/a><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>Other key initiatives include offering free electric bikes to 120 high-achieving students and establishing a New Energy Fund and New Energy Vehicle Centre to drive policy implementation. Despite some industry reservations, the government remains committed to electrifying 30% of vehicles in Pakistan by 2030.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: Federal Minister for Industries and Production Rana Tanveer Hussain has unveiled the New Energy Vehicle (NEV) Policy, which aims to transition 30% of Pakistan&#8217;s vehicles to electric power by 2030. Speaking at a press conference, the minister emphasized that all stakeholders had been consulted in drafting the policy, which is designed to reduce reliance on expensive fuel imports and promote sustainable transportation. Read: Zero-tolerance policy on emissions: Capital\u2019s smog strategy unveiled The policy introduces several incentives, including subsidies of PKR 50,000 for electric motorcycles and PKR 200,000 for electric rickshaws, with a total allocation of PKR 4 billion. These subsidies will be distributed through an auction system, and licenses have already been issued to two companies, with 31 more applications under review. Among the licensed firms is BYD, a leading global EV manufacturer. The government plans to develop robust EV infrastructure to support the transition, identifying 40 sites along the Peshawar-Karachi Motorway for charging stations. By 2030, 3,000 charging stations are expected to be operational, offering electricity at subsidized rates. Additionally, duties on EV components have been reduced to encourage local manufacturing. Read: PDMA bans smog-generating activities across Punjab amid health crisis The NEV policy also includes financing measures,&hellip;<\/p>\n","protected":false},"author":18,"featured_media":100601,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15012,15181],"tags":[60702,60697,60698,60694,60347,60705,60696,60700,60691,60701,60699,60695,60689,60692,60688,60064,60690,60693,60703],"persona":[],"class_list":{"0":"post-100596","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-allied-industries","8":"category-environment","9":"tag-byd-pakistan","10":"tag-electric-motorcycles-subsidy","11":"tag-electric-rickshaws-subsidy","12":"tag-electric-vehicles-in-pakistan","13":"tag-ev-charging-stations","14":"tag-ev-financing-pakistan","15":"tag-ev-infrastructure-pakistan","16":"tag-ev-manufacturing-incentives","17":"tag-ev-subsidies","18":"tag-fuel-import-reduction","19":"tag-imf-and-nev-policy","20":"tag-local-auto-industry-impact","21":"tag-nev-policy-2030","22":"tag-new-energy-vehicle-policy","23":"tag-pakistan-auto-industry","24":"tag-pakistan-ev-policy","25":"tag-pama-concerns","26":"tag-rana-tanveer-hussain","27":"tag-sustainable-transportation-pakistan","28":"cat-15012-id","29":"cat-15181-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>New EV Policy: 30% electric vehicles by 2030 - Zameen News<\/title>\n<meta name=\"description\" content=\"The policy introduces several incentives, including subsidies of PKR 50,000 for electric motorcycles and PKR 200,000 for electric rickshaw...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/30-electric-vehicles-by-2030-under-nev-policy.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New EV Policy: 30% electric vehicles by 2030 - Zameen News\" \/>\n<meta property=\"og:description\" content=\"The policy introduces several incentives, including subsidies of PKR 50,000 for electric motorcycles and PKR 200,000 for electric rickshaw...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/30-electric-vehicles-by-2030-under-nev-policy.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; Pakistan Property News &amp; Latest Updates - Zameen News\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ZameenPK\" \/>\n<meta property=\"article:published_time\" content=\"2024-11-22T07:46:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-11-22T12:28:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2024\/11\/Electroc-Vehicles.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1170\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Samra Zulfiqar\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:site\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Samra Zulfiqar\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"New EV Policy: 30% electric vehicles by 2030 - Zameen News","description":"The policy introduces several incentives, including subsidies of PKR 50,000 for electric motorcycles and PKR 200,000 for electric rickshaw...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.zameen.com\/news\/30-electric-vehicles-by-2030-under-nev-policy.html","og_locale":"en_US","og_type":"article","og_title":"New EV Policy: 30% electric vehicles by 2030 - Zameen News","og_description":"The policy introduces several incentives, including subsidies of PKR 50,000 for electric motorcycles and PKR 200,000 for electric rickshaw...","og_url":"https:\/\/www.zameen.com\/news\/30-electric-vehicles-by-2030-under-nev-policy.html","og_site_name":"Pakistan Real Estate News &amp; 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