Electric Vehicle policy to open new vistas of business, employment in country: Amin Aslam

ISLAMABAD, Nov 5 (APP):Adviser to Prime Minister on Climate Change Malik Amin Aslam Tuesday said the federal cabinet had approved electric vehicle policy that would open new vistas of business and employment.

Addressing a press conference here, he said the electric vehicle policy had offered special incentives to automobile manufacturers.

“Prime Minister Imran Khan has special interest in green and sustainable development and gave the task to Ministry of Climate Change to come up with an Electric Vehicle Policy,” he said.

According to global estimate, around 20 percent of green house gas emissions were mainly due to transport means whereas in Pakistan it was 40 percent owing to vehicular emissions, he added.

Amin said electric vehicles had four key benefits including: decline in environmental degradation and ambient air pollution like the smog issue in Lahore mainly perpetrated through automobile emissions.

“Electric motorbikes, rickshaws and cars make 70 percent less pollution and are a cheap source of transportation. The cost of running electric vehicle is 1/3 of a fuel run automobile. The import bill of the country mostly comprised of oil where 30 percent conversion of existing automobiles to electric vehicles will reduce its volume and help save US$2billion,” the adviser said.

The target set for next four years was to convert 100,000 cars and 500,000 two and three wheeler vehicles on electric cars,he added.

To a question, he said there was only one percent duty on battery run vehicles spare parts which at present was 25 percent as there was no concept of these means of transportation before, adding “One percent general sales tax is being introduced on locally manufactured electric cars, motorbikes and rickshaws.”

He said, “During my visit to Karachi I come to know that the local automobile manufacturers have developed electric cars, all the required machinery and paraphernalia to tap the market and are waiting for the policy’s approval from the cabinet.”

The adviser mentioned that special economic zones had been proposed in the policy to establish local electric car manufacturing units.

“Pakistan wants to become the hub of manufacturing and exporting of right-hand driven electric vehicles in the world where the private sector has an opportunity to capitalize the untapped potential of the market,” he said.

He went on to mention that not only electric car manufacturing industries would generate employment and business rather battery run car charging infrastructure needs to be developed which would accommodate a bulk of the masses.

“Around 3,000 CNG stations are lying abandoned due to lack of natural gas supply whereas negotiations are underway to convert these gas stations on electric vehicle charging units,” he informed the media.

A Korean company was interested in developing battery swap (lithium ion battery used in electric vehicles) set up producing the batteries used in electric vehicles with exchange facility at Lahore which was under consideration, Amin Aslam informed the media.