According to Federal Minister of Defense Khawaja Asif, gasoline-powered motorcycles would be banned in Pakistan at some point. Khawaja Asif shared this information during the National Energy Conversation Policy Conference.
During the conference, he also mentioned that the government is pushing the purchase, sale, and local production of electric bikes.
He went on to say that the decision will surely help individuals, the state economy, and the nation’s environment. The government is planning to accelerate the introduction of e-bikes in order to save around Rs 86 billion each year.
He also addressed other critical issues of energy conservation in Pakistan’s capital city. It surely includes the hours of operation for restaurants, shopping complexes, markets, and wedding venues.
EV Import Duties Are About To Expire
Due to the regulatory duty (RD) SRO, it is no longer possible to import electric vehicles (EVs).
Pakistan’s foreign exchange reserves, on the other hand, are rapidly depleting as a result of the rising dollar exchange rate, and the country’s economy is on the verge of imploding. As a result, the general population is skeptical about the current state of affairs.
SRO 1571(1)2022 was set to expire on November 21, 2022. As a result of the change, EV prices fell dramatically. Tron’s E-cost has decreased by approximately Rs 20 million. Following the elimination of the RD, many other automakers cut the price of their EVs.
The fact that the RD has expired has also fueled speculation that people who had been putting off importing expensive EVs from abroad may now do so.
Analysts believe that the elimination of RDs on EV imports will result in a rush of pricey EV imports and the establishment of a new SRO. They projected that the development will lead to further declines in foreign exchange.