National electric vehicle policy to be announced next month

ISLAMABAD: The Ministry of Commerce is likely to finalise the National Electric Vehicle (NEV) Act this October, which aims to promote local manufacturing and early adoption of electric vehicles (EVs) and new energy vehicles (NEVs) for efficient transportation.

This was decided at the first Electricity Board meeting held on Tuesday under the chairmanship of Commerce and Industry Minister Rana Tanveer Hussain.

At the conference, it was stated that the policy will encourage domestic production, early use of electric and new energy vehicles, energy efficiency and the automotive sector's transition to technology.

The executive body will also oversee the government’s transition to electric and hybrid vehicles, and its next meeting will discuss plans to create a financing model for demand for electric vehicles and new energy through federal funding allocation in the budget.

The meeting was attended by Energy Minister Sardar Awais Ahmed Khan Leghari, Industries and Production Minister Saif Anjum and senior officials from ministries and administrations.

The committee will meet next week to consider the matter further while reviewing recommendations made by various stakeholders.

The Prime Minister's Office recently set up a committee to develop a policy to encourage local production and use of the first electric vehicles, including new ones, in a bid to help businesses shift to the technology.

The contents of the committee include the creation of a national plan, with the support of oil companies and the National Highways Administration, to provide the necessary tolls at toll booths for the use of existing electricity on highways and in urban areas for intercity and poor public transport.