Pakistan fuel prices to be revised every day
The government aims for electric vehicles to account for 30% of new vehicle sales by 2030 under its EV policy announced last year. Petrol and diesel prices in Pakistan have risen 54% and 43%, respectively, since the Middle East conflict began in February, according to data available from Pakistan State Oil Company Ltd. Earlier reporting noted: The government aims for EVs to account for 30 per cent of new vehicle sales by 2030 under a policy announced last year.
Pakistan expects to achieve its electric-vehicle adoption target ahead of schedule as surging oil prices make the shift away from petrol-powered vehicles increasingly attractive, a senior government official said. Haroon Akhtar, adviser to Prime Minister Shehbaz Sharif on industries and production, said the sharp rise in fuel prices has reduced the time needed for buyers to recover the higher upfront cost of EVs. “I feel that the target we had set in our electric-vehicle policy last year, we will achieve it much earlier as rise in oil prices has brought cost recovery of EV to one to one and a half year,” Akhtar told Bloomberg in Islamabad. You don’t have to pay for petrol,” he said. Akhtar said sales of electric motorcycles and scooters have tripled from a year earlier, while electric-car sales have doubled, although industry-wide EV sales data is not publicly available. “This is an impact of the Middle East conflict, as fuel prices have gone up,” Akhtar said. It is considering tax incentives for EVs to narrow the price gap between electric and conventional vehicles, Akhtar said. Earlier reporting noted: Pakistan expects to reach its electric-vehicle adoption target ahead of schedule as surging oil prices make switching away from gasoline-powered cars increasingly attractive, according to a senior government official. The jump in fuel costs since the Middle East conflict has shortened the time it takes for buyers to recoup the higher upfront cost of an EV, said Haroon Akhtar, adviser to the prime minister on industries and production. Earlier reporting noted: “I feel that the target we had set in our electric-vehicle policy last year, we will achieve it much earlier as rise in oil prices has brought cost recovery of EV to one to one and a half year,” adviser to Prime Minister on Industries and Production Haroon Akhtar told Bloomberg in Islamabad.
“People are realizing the benefit now. The government is also preparing a new auto policy that could be presented to the cabinet within the next two weeks.