Pakistan Unveils New Energy Vehicle Policy: 30% Electric Cars by 2030

Pakistan has introduced its 2025-2030 Energy Vehicle Policy, setting ambitious goals to promote electric vehicles (EVs) across the country. The policy aims to have 30% electric vehicles on the roads by 2030, increasing to 90% by 2040 and ultimately achieving 100% by 2050.

Affordable EVs Through Installments

Under the new policy, citizens can acquire electric cars through an installment plan at a minimal monthly payment of PKR 9,000. The government will subsidize the scheme with 3% KIBOR (Karachi Interbank Offered Rate) financing. Buyers will need to pay a small down payment, while the remaining amount will be paid off in two years through affordable installments.

Transparent Application Process

The government will collaborate with selected banks to invite applications for EV purchases. Applicants’ eligibility will be assessed to ensure transparency, and only those meeting the criteria will qualify for the scheme.

Special Incentives for EV Manufacturing

• The policy allocates 20% of Special Technology Zones exclusively for EV manufacturing.
• Companies investing PKR 3 billion or more during the initial five years will receive special incentives to encourage domestic EV production.

Zero-Emission Vehicle Goals

The policy also targets 100% zero-emission vehicles by 2060, further aligning with global environmental sustainability goals.

Expert Opinions on the Initiative

Industry experts have praised the installment-based EV acquisition model as a step in the right direction, emphasizing the importance of ensuring transparency. They caution that the scheme must focus on the middle-income segment to achieve its intended impact. Any favoritism toward already privileged groups could undermine the policy’s success in fostering EV adoption.

Towards a Greener Future

This initiative is expected to significantly reduce fuel consumption and carbon emissions in Pakistan. However, the policy’s success depends on its implementation, ensuring fair access, and fostering public trust.

The new policy marks a key step in Pakistan’s journey toward an environmentally sustainable and energy-efficient transportation system.