LAHORE: Dr Shakil Sadiq Jajja, Associate Professor at Suleman Dawood School of Business (SDSB), Lahore University of Management Sciences (LUMS), has stated that Electric Vehicle (EV) technology is ready for adoption in Pakistan. The government should adopt environmentally friendly policies to support the industry.
Dr Jajja was speaking at the 2nd Symposium on Battery Electric Vehicles in Pakistan, organized by LUMS in collaboration with the Higher Education Commission (HEC) Pakistan, the World Bank, and the International Finance Corporation (IFC).
The symposium focused on “Accelerating the Electric Mobility Transition in Pakistan” and brought together senior leaders, policymakers, academics, and industry experts.
Dr Jajja highlighted that the Punjab Government’s initiative to provide electric bikes to students has reduced to 1000 bikes from the announced 20,000 bikes. He emphasized that the government’s support is crucial for the EV industry, and bulk purchases of electric vehicles would stabilize small producers. However, there must be a subsidy on EV manufacturing.
The symposium covered critical areas, including the EV landscape in Pakistan, international best practices, industry perspectives on demand, supply, charging, and financing. The event also showcased an exhibition of EV-related products and services.
Dr Shakeel Sadiq Jajja emphasized that the 2030 national planning of energy focuses on green energy, and Pakistan’s electricity grid is similar to Indian and Polish grids, which are adopting EVs more rapidly. He highlighted the need for affordable financing options, as high interest rates make it difficult for consumers to finance electric vehicles.
Ji Zhang, Co-founder of NETA Auto, shared that 45% of China’s automotive market is captured by EVs due to affordability. Waqas Ahmad Butt, CEO of Metro E Vehicles, announced that they have stopped producing gasoline vehicles and are focusing on environmentally friendly products.
The symposium served as a platform for fostering dialogue and collaboration between the government and industry on the BEV value chain. Ms Jen Jungeun Oh, Practice Manager, Transport, South Asia, at the World Bank, emphasized the need for concerted action to catalyze EV adoption in Pakistan. Zeeshan Sheikh, IFC’s Country Manager for Pakistan & Afghanistan, reiterated their commitment to supporting the private sector and the Government of Pakistan in fostering an enabling environment for BEVs.
The event underscored LUMS, HEC, the World Bank, and IFC’s commitment to fostering innovation and addressing societal challenges through collaborative efforts. By harnessing collective expertise and insights, the symposium aimed to chart a course towards a greener, more sustainable future for transportation in Pakistan.
Copyright Business Recorder, 2024
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