The policy will strengthen the auto industry in the country and reduce the environment pollution.
It would help reduce motor emission by 65 percent. Pakistan's cities mainly Lahore is worst affected smoke emitted by vehicles, said the Advisor at a press briefing at a local hotel.
He was flanked by the office-bearers of Pakistan Electric Vehicles and Parts Manufactures, and Traders Association including Muhammad Ayaz, Shaukat Qureshi and Muhammad Ayaz.
He said that the policy was drafted by Federal Ministry of Climate Change which has been approved by the cabinet.
"Soon, you will get incentives package under this policy," he re-assured the electric vehicles manufacturers and traders and said his Ministry and Federal Ministry of Industries were jointly working on the package and SRO in this regard would be issued soon.
The conversion of vehicles to electric mode would save billions of dollars for the country every year on account of imported oil bill.
Besides being environment friendly, the electric vehicles would prove user friendly and very economical.
The motorbikes would save up to 60 percent of their fuel cost, he said.
Malik said the country was now surplus in electricity generation at 18,000 MW against the demand of 10,000 MW per day.
This would create opportunities of new businesses like setting up electric charging stations and manufacturing of the electric batteries/kits, he said.
He said Pakistan Tehreek-i-Insaf government especially Prime Minister Imran Khan was keen to promote electric vehicles industry in the country for the above benefits.
He said that the electric vehicles business was flourishing in the world and Pakistan should lead in the region.
He said, in the support of this industry, the government would set up a research institute, which later would be upgraded to a university.
The Minister informed the media that Chinese companies were interested to set up plants to manufacture electric batteries.
Vice Chairman of the association, Muhammad Ayaz appreciated the efforts of Advisor to Prime Minister on Climate Change for formulation of Pakistan Electric Vehicles Policy and its approval by the cabinet.
"It is timely step by the government to induct electric vehicles in Pakistan. This great task is completed within short time," he remarked.
The country would have healthy environment by going to zero-tail omission and noise pollution.
Another representative Shaukat Qureshi said by 2030, around vehicles in the country would be converted into electric mode of energy.
He said that the existing auto manufacturing companies might create hindrances in the execution of electric vehicles (EV) policy but could not stop it.
"EV tsunami is coming, whether one like or not," he remarked.