The government of Pakistan has introduced a groundbreaking initiative to encourage people to switch from fuel-powered vehicles to environmentally friendly electric vehicles (EVs). Federal Minister for Energy, Sardar Awais Ahmed Khan Laghari, shared this major announcement during a press conference, emphasizing the benefits of this policy for both individuals and the environment.
Prime Minister Shehbaz Sharif has approved a 45% reduction in electricity prices specifically for EV charging stations. This means that the cost per unit of electricity for these stations will now be Rs39.70, significantly reduced from the previous rate of Rs71.10. This decision aims to make EVs more affordable to the public by lowering their charging expenses.
According to the minister, switching to electric motorcycles could lead to substantial savings of up to 77% compared to traditional fuel-powered bikes. This reduction in charging costs is expected to benefit individuals and families, making EV adoption a financially viable option for many.
To further support this transition, the government has streamlined the process for setting up EV charging stations. Entrepreneurs can now apply for approvals through an e-portal, with a guaranteed response within just 15 days. This initiative not only aims to promote EV usage but also opens new business opportunities, boosting economic activity across the country.
Additionally, the minister highlighted the broader impact of this policy on climate change. By reducing reliance on imported fuel, the country can significantly cut down on its $6 billion annual expenditure for fueling motorcycles and three-wheelers. Encouraging electric alternatives will not only reduce pollution but also strengthen Pakistan’s energy independence.
Sardar Awais Ahmed Khan Laghari also shared updates on the government’s efforts to improve the energy sector. He revealed that the circular debt has been reduced by Rs12 billion this year. While distribution companies suffered losses of Rs240 billion last year, the government has successfully contained this figure to Rs170 billion this year.
For industrialists, steps are being taken to simplify processes, including the launch of a one-window operation to address their concerns effectively.
This new policy demonstrates the government’s commitment to promoting sustainable transportation and tackling environmental challenges. By making EVs more accessible and affordable, Pakistan is moving closer to a cleaner and greener future.
Read Also: Pakistan Plans Big Tax Cuts to Promote Electric Vehicles!
2 thoughts on “Massive 45% Cut in Electricity Price for EV Charging Stations Announced!”