Electric vehicles to curtail import bill by $2 billion annually: adviser

Adviser to Prime Minister on climate change, Malik Amin Aslam on Thursday said that electric vehicles will initially reduce import bill by US$2 billion per annum.

Talking to media at an event organized by Pakistan Electric Vehicles & Parts Manufacturers and Traders Association (PEVPMTA) at local hotel here, he said that this was the high time to announce Electric Vehicles (EV) policy as the country had surplus power production.

Terming EV 2019 as best policy in the region, he said that the policy, which had been promulgated recently, would provide cheap mode of transportation, reduction in carbon emission and decrease import bill.

He also dispelled the impression of announcing EV policy unilaterally, saying that all stakeholders were taken on board in the process of formulating EV policy 2019.

Moreover, he said that the government would issue SROs related to EV policy, 2019, shortly in order to commence the process of introducing EV in the country.

"In order to help the government in induction of the EV in the transportation system of the country, it was resolved to formulate a body for the purpose to guide the relevant ministry and authorities in implementation of the policy in its true spirit and style," PEVPMTA vice chairman Mohammad Ayaz said.

"The common man would benefits from the advantages of EVs which would enhance the Socio Economic environment through substantial saving on purchase of fuel & maintenance alone," he added. "We can have a healthy environment in view of zero tail omission and noise pollution," he said.

Shaukat Qureshi, General Secretary PEVPMTA said that they were receiving overwhelming response since the announcement of EV policy and now commercial banks had also started EV financing.

He said that the country's auto sector was totally dominated by the Japanese brands, which had yet to come up with a comprehensive response towards EV and its technology.

Toyota, the world auto giant, has for the first time signed agreement on November 7, 2019, to develop Electric Vehicles with BYD, the world largest electric vehicles manufacturer, with 44 plants around the globe employing 250,000 personals, with turnover of 250 Billion dollars," he added. "Scenario will definitely change in Pakistan as well, with the Japanese companies roll out their models by 2024, Qureshi said.