By Staff Reporter
ISLAMABAD: The government plans to convert 30% of the country’s vehicles to electric power within the next five years, a push that officials say will deliver fuel-import savings of as much as $4.5 billion and help ease chronic pressure on the economy.
Prime Minister Shehbaz Sharif’s office released the target on Wednesday after he chaired a high-level review meeting on electric-vehicle promotion. The announcement comes as the South Asian nation contends with one of its largest import bills — fuel — and repeated energy shortages that have strained public finances and fed inflation.
The strategy aims to curb dependence on imported oil, protect foreign-exchange reserves and tackle rising domestic costs for transport while addressing urban pollution. It also aligns Pakistan with a broader global shift toward electric mobility, which governments are accelerating to cut emissions and shore up energy security. “In the next five years, 30% of vehicles in the country are planned to be electric, which will result in estimated fuel savings of up to $4.5 billion,” the prime minister’s office said in a statement.
Sharif was quoted as saying that, “given the current regional situation and future requirements, promoting electric vehicles will not only reduce the fuel import burden but is also critical for environmental protection and energy security.”
Officials briefed Sharif that 72 manufacturing certificates have already been granted for electric motorcycles and rickshaws, and four for electric cars, as the government works to expand local production capacity. Separately, authorities have received 123 applications for the installation of EV charging stations across the country. To accelerate adoption, the government is introducing subsidy schemes targeted at low-income users and rolling out installment-based programs for electric bikes.
Sharif announced during the meeting that government employees up to pay scale BPS-16 will be offered electric bikes on easy installments. He directed ministries and agencies to speed up ongoing EV initiatives and stressed the importance of transparency in subsidy distribution under the National EV Policy. Officials told the meeting that faster implementation and clearer processes will be essential to hitting the five-year target. Fuel imports have long been a drag on the balance of payments; reducing that outflow is seen as one of the more immediate ways to build economic resilience while the country pursues longer-term power-sector reforms.
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