Pakistan Govt Planning to replace Petrol Bikes by EV Bikes

21 Dec 2022

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Pakistan Govt Planning to replace Petrol Bikes by EV Bikes

The Federal Minister of Defense Khawaja Asif said that the government wants to finish the petrol-powered bikes gradually from Pakistan, during the conference of National Energy Conservation Policy.

Khawaja Asif stated that the government will encourage the sales, purchase, and local manufacturing of electric bikes.

He said that this idea of electric bikes will give benefit and increase the economy of the state, the people of the country, and also the environment of the country. The government will accelerate the introduction of e-bikes to save PRs. 86 billion every year, the minister added.

Khawaja Asif also discussed other plans to save electricity within the Capital City (Islamabad) of Pakistan consisting of restrictions on the operating hours of restaurants, markets, shopping plazas, and wedding halls.

Expiration of EV Import Duties

The regulatory duty (RD) SRO on the import of electric vehicles (EVs) including cars has expired, encouraging a debate regarding the applicability of EV imports.

Given that Pakistan is swiftly losing foreign exchange stock and the economy is in very bad condition and near destruction, the people of the country are largely doubtful about this development.

After SRO1571 (I)/2022 ended on November 21, 2022, the prices of EVs decreased crucially. Audi, in particular, looks at the price of the E-Torn fall by about Rs. 20 million. Same as various other carmakers decreased the prices of their EVs following the RD termination.

This is also a rumor that spread everywhere that people who had luxury EV they had imported these EVs in different countries, may begin importing them now that the RD has expired.

Specialists also reckon that the eradication of RDs on EV imports may release a tidal wave of premium EV imports, which may also show to a new SRO. They also make the conjecture that this development will also be a reason for foreign exchange to dip more.

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