Islamabad: The Power Division has announced a special 44 percent discounted tariff for electric vehicle charging stations.
According to Radio Pakistan, this announcement was made by Minister for Power Sardar Awais Ahmed Khan Leghari during a news conference in Islamabad. He stated that Prime Minister Shehbaz Sharif has approved this special discounted rate for EV charging stations, reducing the current electricity rate from 71 rupees per unit to 39.70 rupees per unit.
The Minister for Power explained that regulations regarding EV charging stations have also been implemented, enabling registration and business operations within 15 days. The reduction in per-unit electricity rates is expected to allow up to threefold savings in travel costs compared to petrol and other fuels, potentially leading to a significant reduction in fares. Additionally, the decreased reliance on petrol and other fuels is anticipated to save substantial foreign exchange.
It is estimated that there are currently 10 million motorcycles in the country, which consume six billion dollars annually on fuel. Converting these motorcycles to electric technology, which costs an average of 50,000 rupees, will enable a return on investment within three to four months and save billions of dollars in foreign exchange.
The establishment of charging stations and battery swapping points across neighborhoods is also expected to create new business opportunities. Permits for setting up charging stations or battery swapping points can now be obtained within just 15 days. The National Energy Efficiency and Conservation Authority has established a one-window system, allowing registration to be completed online via their website.
To ensure a competitive market and facilitate both local and foreign direct investment, these regulations have been simplified, with the registration fee set at only 50,000 rupees. These regulations are estimated to help achieve a target of 30 percent EV adoption by the year 2030.
Meanwhile, Prime Minister Shehbaz Sharif has welcomed the forty-four percent concessional tariff as a historic package for electric vehicles. Chairing a meeting in Islamabad today focusing on promoting the culture of using electric vehicles in the country, he stated that it will save foreign exchange on the import of petrol and diesel and provide eco-friendly traveling facilities. Commending the Power Minister regarding the new policy for promoting electric vehicles in the country, the Prime Minister emphasized the need to create awareness about this policy.