National policy on electric vehicles likely next month

The Min­istry of Industries is likely to finalise the National Electric Vehicle (NEV) policy in Octo­ber, which aims to promote local manufacturing and early adaption of electric veh­i­­cles (EVs) and new ene­rgy vehicles (NEVs) to ensure a sustainable transport system. It was decided in the first Steering Committee on Elect­ric Vehicles meeting held on Tuesday, chaired by Minister for Industries and Production Rana Tanveer Hussain. The meeting noted that the policy would promote local manufacturing, early adaption of EVs and NEVs, energy efficiency, and transition to clean technologies in the automotive sector. The steering committee will also oversee the replacement of conventional vehicles with EVs in the federal government, and the next meeting will discuss plans to develop a financial structure for demand incentivisation of EVs and NEVs through grants provided in the federal budget.