Islamabad: Federal Minister for Power, Awais Ahmad Khan Leghari, has proposed leveraging France’s Green Fund to facilitate Pakistan’s transition to electric vehicles. This proposal was made during a meeting with French Ambassador to Pakistan, Nicolas Galey, in Islamabad.

According to a statement by Press Information Department, the Federal Minister underscored Pakistan’s recently introduced Electric Vehicle (EV) Policy, which is projected to result in substantial annual fuel savings and environmental benefits. The transition is also expected to lower transportation costs for the public. The French Ambassador commended Pakistan’s effective negotiations and the review of agreements with Independent Power Producers (IPPs), which are anticipated to save Rs.1.4 trillion nationally.

The Federal Minister also announced the forthcoming introduction of a Wheeling Policy for efficient power transmission and distribution, along with plans for auctioning surplus electricity. These measures aim to promote a competitive environment by facilitating the government’s exit from the power business. Furthermore, independent boards have been appointed across distribution companies to improve recovery rates and reduce line losses.

The Minister highlighted ongoing efforts to promote solar energy and emphasized that all reforms are being implemented transparently, creating significant investment opportunities in the power sector. He also noted the progress in renewable and green energy projects. The French Ambassador indicated France’s willingness to provide technical and financial support for Pakistan’s EV and energy reforms, acknowledging the positive impact of these initiatives. Both countries agreed to further enhance the power sector and promote sustainable practices.