ISLAMABAD: Prime Minister Shahbaz Sharif instructed relevant authorities to formulate a detailed financial framework for electric vehicles by November this year and streamline licensing regulations for their manufacture in Pakistan.

Chairing a meeting in Islamabad, the prime minister instructed that essential consultations be held with the Finance ministry, the State Bank of Pakistan, all provinces, federal units, and relevant stakeholders concerning the electric vehicles policy.

Shehbaz Sharif emphasized, “The government is prioritizing the promotion of electric vehicles in the country.”

He highlighted, “These vehicles will not only conserve valuable foreign exchange by reducing imports of petrol and diesel but also offer environmental benefits.”

The prime minister announced plans to distribute e-motorbikes to exceptional students from government schools, following a model similar to the laptop scheme.

He stated that, moving forward, all federal government institutions would exclusively purchase electric motorbikes to conserve national resources.

He had instructed that directives be issued to all federal ministries accordingly.

Additionally, he directed the Capital Development Authority (CDA) to develop a detailed plan for implementing electrified public transport in Islamabad.

During the briefing, it was reported that, since 2022, 49 licenses had been issued for the local production of two-and three-wheeled electric vehicles, with 25 factories were already operational.

The forum was informed that the first license for the domestic production of four-wheeled electric vehicles was issued in September this year, and the first locally manufactured electric car is expected to be available in the market by December.

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The meeting was informed that the country currently has 45,000 two-and three-wheeled electric vehicles, as well as 2,600 four-wheeled electric vehicles. Additionally, it was told that the installation of recharging stations for electric vehicles would be prioritized along motorways, GT Road (National Highway 5), and National Highways 65 and 70.