The Economic Coordination Committee (ECC) has approved Pakistan’s first-ever Electric Vehicle policy for 4-wheelers with attractive benefits for public. Federal Minister for Industries and Production Hammad Azhar said that the policy will prove instrumental in rationalizing costs of purchasing, manufacturing and promoting use of electric vehicles (EVs) in Pakistan.
Today, ECC ratified the Electric Vehicle policy for 4 wheelers. It will prove instrumental in rationalising costs of purchasing, manufacturing & promoting use of electric vehicles in Pakistan.
ECC also ratified removal of certain anomalies in Mobile Phones Manufacturing policy.
— Hammad Azhar (@Hammad_Azhar) December 16, 2020
Commenting on this development, Federal Minister for Science & Technology Fawad Chaudhry said the EV policy will play a key role in bringing a huge change in Pakistan. According to Fawad Chaudhry shifting from conventional combustion engine vehicles to EVs will not only benefit the environment but will also bring a descending trend in prices.
— Javed Afridi (@JAfridi10) December 16, 2020
Meanwhile, renowned business tycoon Javed Afridi who is also the key person behind MG cars which is making inroads in the market have shared some benefits of the EV policy for end users. According to his tweet, no car registration and token fee will be charged while electric vehicles will be exempted from toll tax also.
Financing for electric vehicles will be provided on zero interest rate. Furthermore people, who want to set up EV charging stations, will be able to get investment/financing with zero interest rate while the income of these charging stations will also be exempted from taxes.