Business Desk 
Nov 15, 2024
Pakistan has projected that electric vehicles (EVs) adoption will be accelerated to 30% by 2030, 90% by 2040, and 100% by 2050, and expects a zero-emission vehicle fleet by 2060.
According to the Energy Vehicle Policy 2025-30, the Pakistan government aims to foster the production of EVs by assigning 20% of special technology zones to the industry. Investors will contribute Rs3bn in the first five years of the policy in exchange for incentives, such as a concessional ground lease for 50 years.
For electric scooters and bicycles, customs duties will start at five percent in the first year, increasing to 10% in the second year and 15% in the third year.
The policy further highlighted one percent customs duties on particular imported parts. Meanwhile, the local and non-local parts will be subject to almost 15 and 45% tax.
Customs duties for the EV bikes and bicycles will initiate at five percent in the starting year, which will be later escalated to 10% in the second year, elevating to 15% by the third year.
The local EV parts will progress with 15% of the total in the first year, followed by 25% in the second year. The non-local EV parts will progress similarly.
The Pakistani government will join hands with the Securities and Exchange Commission of Pakistan, as it plans to establish production plans, as it fosters a great cause in expanding the EV industry to contribute to a healthier and greener planet.
The rise of EVs is revolutionising transportation in Pakistan and worldwide. The entire ecosystem will be driven by technological advancements in batteries and increasing environmental awareness, as it reduces carbon footprints and fosters a pollution-less environment. EVs are said to dominate the entire automotive industry and contribute to a healthier and greener planet.
