ECOSF contributed to the Consultative Discussion on Market Preparedness and Policy support for Electric Vehicles (EVs) in Pakistan
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Sustainable Development Policy Institute (SDPI) hosted a virtual consultative discussion on Market Preparedness and Policy support for Electric Vehicles (EVs) in Pakistan on May 25, 2022. The objective of this dialogue was to analyze the current progress and discuss the opportunities and challenges for EV market growth in Pakistan. The virtual event brought together the relevant stakeholders from public sector, policy makers, industrialists, and other relevant stakeholders. Engr. Khalil Raza, Scientific Officer ECOSF was invited as the panelist in the webinar.
Invited experts emphasized that Pakistan needs to strengthen its policy framework to promote electric vehicles, which are not only environment-friendly but also it will reduce the country’s dependency on fossil fuels. Mr. Khalil Raza presented a policy framework to scale up electric mobility in Pakistan. Mr. Raza concluded in order for Pakistan to achieve its intended EV penetration targets, relevant stakeholders need to strengthen its policy intervention in four key areas; (a) robust strategy (b) financial incentives (c) plan for reducing the cost of lithium-ion batteries and (d) adequate supply of reliable charging network.
It is important to mention that the transport sector of Pakistan is based entirely on imported fuels that is causing a major threat to country’s trade deficit. As of January 2022, the trade deficit of Pakistan surged to $24.79 billion in the first half due to 63% increase in year-on-year basis. In 2019, Pakistan had to spent over $13.3 billion dollars on import of oil, and this cost is expected to cross over $30.7 billion by 2025. In the backdrop of these challenges, a transition towards Electric Vehicles (EVs) can reduce Pakistan’s dependency on the petroleum products & at the same time provide a decarbonization pathway that goes beyond just the power sector. In pursuant of this goal, Pakistan launched its first Electric Vehicles Policy in 2019 which aims to achieve 30% share in sale of EVs by 2030.