Ahmed Khan Malik

As the government plans to establish electric vehicle (EV) infrastructure in the country, the business community of Karachi has called for speedy implementation of the project.

Pakistan has long been grappling with pollution, which has gone up to dangerous levels, especially smog that has engulfed many cities in Punjab. Faraz-ur-Rehman, a Karachi-based leading industrialist and Patron-in-Chief of Pakistan Business Group, highlighted the alarming findings from the Punjab Urban Unit’s 2023 report, which reveals that transport is the largest contributor to environmental pollution in Pakistan, accounting for a staggering 83.15% of the total. Talking to WealthPK, he said that other contributors include industries at 9.07%, agricultural residue burning at 3.9%, and waste burning at 3.6%, while domestic and commercial activities contribute only 0.11% and 0.14%, respectively.

He emphasised the need for immediate reforms in the transport sector, particularly the two-and-four-wheeler industries. He stated that EVs, including bikes and cars, are crucial for combating pollution and ensuring sustainable economic growth. Highlighting the benefits of EV adoption, Rehman noted that EVs significantly reduce harmful emissions, improve air quality, mitigate climate change impact as well as help in economic savings as with lower operating and maintenance costs, electric vehicles offer long-term financial relief to consumers.

Rehman pointed out that EV industry development will help reduce the import bill as transitioning to EVs will decrease dependency on imported fossil fuels. “With surplus electricity in the country, EVs can help optimise the use of domestic energy resources.” He also termed it positive for the local manufacturing sector because promoting EV bikes and cars can encourage the growth of local industries, creating jobs and enhancing technological innovation. He urged the government to introduce incentives such as subsidies for EV buyers and manufacturers, and reduce taxes to encourage the shift to sustainable transportation. "Transforming the transport sector is not just an environmental need but an economic opportunity.

The government must prioritise policies that drive the EV industry forward and ensure a cleaner, greener and more prosperous Pakistan," the patron-in-chief of Pakistan Business Group said. Mustafa Waleed, a textile industrialist of SITE Industry Area, said that the regulatory environment must adapt to local assembly, and infrastructure manufacturing needs to be fostered and sustained. He said that EVs would have a huge impact on the middle class, mostly relying on two or three-wheelers. Waleed said that though the outlook of the EV industry was positive, the country needs private funding for development of this sector. He said that the government should work out a plan immediately to attract the local and foreign investment in this sector.

Credit: INP-WealthPk