Islamabad: The Power Division has unveiled a significant 44 percent discount on electricity tariffs for electric vehicle (EV) charging stations, an initiative aimed at promoting eco-friendly transportation and reducing fuel costs. This development, announced by Minister for Power Sardar Awais Ahmed Khan Leghari during a news conference, will see electricity rates for charging stations drop from 71 rupees per unit to 39.70 rupees per unit.

According to a statement by Ministry of Information and Broadcasting, this initiative is part of Prime Minister Shehbaz Sharif’s broader strategy to encourage the use of electric vehicles in Pakistan. The reduction in electricity tariffs is expected to provide substantial savings on travel costs compared to traditional fuels. The new regulations also expedite the registration process for EV charging stations, allowing businesses to start operations within 15 days.

The shift to electric vehicles is projected to lead to significant economic benefits, including reduced foreign exchange expenditure on fuel imports. With an estimated 10 million motorcycles in the country, the transition to electric technology at an average cost of 50,000 rupees per conversion could offer returns on investment within a few months. Additionally, the establishment of charging stations and battery swapping facilities is anticipated to generate new business ventures.

The National Energy Efficiency and Conservation Authority has simplified the process for setting up these facilities, introducing an online registration system with a fee of 50,000 rupees. The streamlined regulations aim to attract both local and foreign investment, with a goal to achieve 30 percent EV adoption by 2030.

Prime Minister Sharif has lauded the discounted tariff as a historic move, emphasizing the environmental and economic advantages of transitioning to electric vehicles. He has urged efforts to raise awareness about the new policy to further facilitate its adoption.