A massive Rs100 billion subsidy package for electric vehicles (EVs) is in the works, announced at a high-level meeting chaired by Special Assistant to the Prime Minister (SAPM) on Industries and Production, Haroon Akhtar Khan.

Representatives from the Pakistan Banking Association and major insurance firms were present. The proposed financial aid aims to boost EV adoption nationwide, aligning with Prime Minister Shehbaz Sharif’s vision for public well-being and environmental preservation, Mr. Khan stated.

The National Electric Vehicle (NEV) Policy, under discussion at the meeting, has the potential to drastically reduce air pollution and smog, a key objective of the program. The initiative also seeks to decrease Pakistan’s dependence on imported oil, leading to substantial savings on the nation”s considerable oil import expenditure.

Mr. Khan reiterated the government”s dedication to a cleaner, more affluent Pakistan. “Our aim is a Smog-Free, Pollution-Free, and Prosperous Pakistan,” he declared. A nationwide network of EV charging stations is also planned to support the shift towards sustainable transportation, the SAPM added.