New policy recommendations have been submitted to the government to promote electric vehicles and expand charging infrastructure in Punjab, including proposals to increase private investment and provide financial incentives.
Comprehensive policy presented to govt to expand EV network
LAHORE, Jul 03 (APP): New policy recommendations have been submitted to the government to promote electric vehicles and expand charging infrastructure in Punjab, including proposals to increase private investment and provide financial incentives.
According to sources, the Punjab Public Private Partnership Authority has submitted its recommendations to the government, which aim to rapidly expand the charging network of electric vehicles (EV) in the province and promote private sector investment.
The recommendations have proposed paving the way for private investment for the establishment of electric vehicle charging stations, while providing financial incentives to those who establish charging stations in rural areas.
According to the document, it has also been recommended to use public and private land for EV charging networks, provide revenue guarantees and grants to investors building charging stations.
The recommendations also include proposals to establish a Punjab EV Transition Fund for electric vehicle projects, and seek funding from green bonds and international financial institutions.
Furthermore, it has been recommended to relax rules and regulations to attract private investors in electric vehicle projects, while operating the EV charging, battery swapping and recycling system under public-private partnerships.
The document also proposes to establish a special unit to increase investment in the electric vehicle sector to ensure effective implementation of the projects.
