Pakistan, July 30 -- Prime Minister Shehbaz Sharif is set to launch a new five-year electric vehicle (EV) policy on August 14, offering a major subsidy to promote electric bikes and rickshaws across Pakistan. Supported by the International Monetary Fund (IMF), the policy aims to make energy-efficient transport more affordable and accessible to the public.

The policy, which will remain in effect until 2030, includes a total subsidy package of Rs100 billion. For the current fiscal year (2025-26), Rs9 billion has been allocated, with increasing funds planned for the following years. The government will spend Rs19 billion in FY27, Rs24.16 billion in FY28, Rs26.62 billion in FY29, and Rs22.64 billion in FY30.

This initiative was designed to ...