Islamabad: The Ministry of Industries in Pakistan has officially signed an agreement with the International Finance Corporation (IFC) to advance the electric vehicle sector in the country. This collaboration is supported by the Special Investment Facilitation Council, aiming to reduce the nation’s fuel dependency and curb pollution levels.

The partnership marks a significant step towards embracing cleaner and more sustainable transportation technologies in Pakistan. By encouraging the use of electric vehicles, the government intends to decrease reliance on traditional fuel sources, which have long contributed to environmental pollution and economic challenges.

The agreement with the IFC, a member of the World Bank Group, is expected to facilitate the development and adoption of electric vehicles within the country. This move aligns with global efforts to transition towards greener energy solutions, addressing both environmental concerns and economic sustainability.

The initiative reflects a broader strategy by Pakistan to enhance investment in sustainable infrastructure. By fostering the growth of the electric vehicle market, the country aims to create new economic opportunities while addressing pressing environmental issues.

This agreement represents a proactive step by Pakistani authorities to integrate international support in their efforts to transform the country’s transportation landscape.