The Power Division has announced a special 44 percent discounted tariff for electric vehicle charging stations

This announcement was made by Minister for Power Sardar Awais Ahmed Khan Leghari, while addressing a news conference in Islamabad today.

He said Prime Minister Shehbaz Sharif has allowed this special discounted rate for EV charging stations, reducing the current electricity rate of 71 rupees per unit to 39.70 rupees per unit.

The Minister for Power said regulations regarding EV charging stations have also been implemented, allowing registration and business operations within 15 days.

According to details, the reduction in per-unit electricity rates will allow up to threefold savings in travel costs compared to petrol and other fuels and will likely to result in a significant reduction in fares. Additionally, reduced reliance on petrol and other fuels will save substantial foreign exchange.

It is estimated that there are currently 10 million motorcycles in the country, consuming 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 while saving billions of dollars in foreign exchange.

The establishment of charging stations and battery swapping points across neighborhoods will also 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 and registration can now 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 historic package for electric vehicles.

Chairing a meeting in Islamabad today in connection with the promotion of culture of using Electric Vehicles in the country, he said it will save foreign exchange on import of petrol and diesel and provide eco-friendly travelling facilities.

Commending the Power Minister regarding the new policy for the promotion of Electric Vehicles in the country, the Prime Minister emphasized to create awareness about this policy.