ISLAMABAD: In a strategic move to accelerate the adoption of electric mobility in Pakistan, the Ministry of Industries and Production has signed a landmark agreement with the International Finance Corporation (IFC) to promote investment in electric two- and three-wheel vehicles.
The initiative aims to support policy development, regulatory reforms, and standard-setting to create an enabling environment for electric vehicle (EV) adoption. With over 23 million two- and three-wheelers currently on Pakistani roads, electric variants represent less than 1% of the fleet—highlighting significant room for growth.
Under the agreement, IFC will provide technical assistance and implementation support. It will work closely with key institutions including the Engineering Development Board (EDB), National Energy Efficiency and Conservation Authority (NEECA), and Pakistan Standards and Quality Control Authority (PSQCA) to build institutional capacity and address existing legal and regulatory barriers.
Haroon Akhtar Khan, Special Assistant to the Prime Minister for Industries and Production, expressed optimism that a strong policy and regulatory framework will attract investment, encourage local manufacturing, and drive widespread adoption of electric mobility in the country.
IFC’s Country Manager for Pakistan and Afghanistan, Zeeshan Sheikh, reaffirmed the corporation’s commitment to facilitating cleaner transport solutions that reduce reliance on imported fuels and improve urban air quality across Pakistan.
