Pakistan, May 17 -- The federal government is poised to approve Pakistan's much-awaited National Electric Vehicle (NEV) Policy next week. The draft policy, which has undergone consultations with a range of stakeholders, is now awaiting final approval from the prime minister before being sent to the federal cabinet for endorsement and implementation.

The Ministry of Industries has drafted the policy with ambitious targets, aiming for over 30% of new vehicles in Pakistan to be electric by 2030. To incentivize this transition, the policy proposes financial subsidies to make electric vehicles (EVs) more affordable. These subsidies include Rs50,000 for electric motorcycles and Rs200,000 for electric three-wheelers (rickshaws), with a total su...