Federal Minister for Energy, Awais Ahmad Leghari, disclosed this decision at a press conference on January 15, announcing the country’s first electric vehicle charging policy that will see the tariff drop from Rs71.10 to Rs39.40 per unit.

Pakistan lacks robust charging network for electric vehicles and major cities like Karachi and Lahore have only a handful of charging stations each.

Leghari emphasized the government’s commitment to making electric vehicles more accessible, stating that the high cost of electricity and the absence of regulations had hindered the establishment of charging stations nationwide.

The new tariff is expected to facilitate the setup of more charging stations, including in local shops.

In addition to the tariff cut, Leghari highlighted that approvals for setting up charging stations would now be expedited through an online portal, with a turnaround time of just 15 days.

He also called for international financial institutions to support Pakistan with green financing, indicating that this initiative could result in some of the lowest electricity rates in the region for consumers and industries.

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Prime Minister Shehbaz Sharif praised the decision, asserting that it would attract more investment in the electric vehicle sector and help conserve foreign exchange by reducing fuel imports.

The government also recently approved revised agreements with 14 Independent Power Producers (IPPs), which could further decrease electricity prices by Rs10 to Rs11 per unit, potentially saving Rs802 billion.

Overall, this initiative is seen as a significant step towards promoting electric vehicle usage in Pakistan.