ISLAMABAD: Prime Minister Muhammad Shehbaz Sharif on Wednesday welcomed the drastic cut in electricity rates to Rs 30 per unit for electric vehicles (EVs) as a favorable step for the sector to increase emission-free and eco-friendly vehicles in the country. The Prime Minister, who chaired a meeting to discuss the promotion of electric vehicle policy, praised Energy Minister Awais Ahmed Leghari and his team for coming up with a compelling proposal that would make it easier for electric car manufacturers to introduce subsidized cars for a fee in the country. “The power minister and his team have drastically reduced the tariff in this sector from Rs 70 to Rs 40 per unit. This will encourage investors and industry partners to leverage more investments in the EV sector,” he said. He pointed out that the country is dealing with air pollution and climate change, which is also a serious problem for the world. However, the country actively participated in the COP-27 and COP-29 global climate forums to present its position in state-level negotiations to address and address climate-related disasters and disasters such as air pollution. he added. “Electric cars are the right step to address air pollution, which needs to be increased to prevent climate change, as it will help reduce air pollution, massive fuel imports and protect the environment,” Prime Minister Shehbaz said. Commenting on the commercial aspect of EVs, he said that it is important to look at the electricity tariff offered to these industries which need to be subsidized as the current tariff of Rs 70 was not viable to operate and continue production. Globally, he said these sectors are receiving special incentives aimed at industry and consumers at all levels. During the meeting, Power Division officials informed the forum about the new policy. They said EV charging stations will now be charged at a reduced rate of PKR 39.70 per unit instead of the existing PKR 71 per unit. This reduction is expected to reduce travel costs by up to three times compared to petrol and diesel vehicles. The aim of this policy is to reduce the country’s dependence on fossil fuels, save a significant amount of foreign exchange, reduce harmful emissions and thereby mitigate air pollution, open new avenues for profitable business and attract local and foreign investment and create a number of jobs. opportunities, thereby strengthening the national economy. The meeting highlighted that regulations for setting up EV charging stations and battery swapping sites have been simplified to encourage investment. Under the new rules, in particular, registration of charging stations and business licenses would be issued within 15 days, security measures and annual inspections of charging stations would be ensured by NEPRA, and a competitive market environment would be promoted to attract direct investment. The meeting was attended by Federal Minister for Economic Affairs Ahad Cheema, Federal Minister for Industries and Manufacturing Rana Tanveer Hussain, Federal Minister for Information and Broadcasting Attaullah Tarar and Federal Minister for Power Sardar Owais Ahmad Leghari along with senior government officials.
