ISLAMABAD: In a major step toward accelerating Pakistan’s transition to electric mobility, the Ministry of Industries and the International Finance Corporation (IFC) have signed a landmark cooperation agreement aimed at boosting investment and reforming the policy landscape for electric two- and three-wheelers (e-2/3Ws).
The new partnership seeks to unlock the potential of Pakistan’s electric vehicle (EV) sector by addressing legal, regulatory, and market barriers. The IFC will offer technical support to streamline regulations, assist in policy development, and bolster standards across the e-2/3Ws value chain.
Key regulatory stakeholders—including the Engineering Development Board (EDB), National Energy Efficiency and Conservation Authority (NEECA), and Pakistan Standards and Quality Control Authority (PSQCA)—will receive institutional support to enable market development and ensure quality and efficiency.
“A robust policy and regulatory framework is essential to encourage local manufacturing and expand the adoption of electric vehicles,” said Haroon Akhtar Khan, Special Assistant to the Prime Minister for Industries and Production. “Without these improvements, achieving our national EV targets will remain a distant goal.”
Khan underscored the urgent need to prioritize e-2/3Ws and electric buses due to their widespread use and social impact. Key strategies include coordinated policy action, reducing upfront costs through localization and bulk procurement, and facilitating affordable financing via risk-sharing instruments.
The initiative marks a pivotal move to position Pakistan at the forefront of clean transportation in South Asia.
