ISLAMABAD
\nThe Senate Standing Committee on Industries and Production reviewed the National Electric Vehicle (NEV) Policy on Friday, emphasizing the need for policy continuity and stronger protection to boost investor confidence while also expressing serious concern over theft and governance issues at Pakistan Steel Mills (PSM).
\nThe meeting was held at Parliament House under the chairmanship of Senator Khalida Ateeb in the absence of Committee Chairman Senator Aon Abbas Buppi.
\nThe Ministry of Industries and Production informed the Committee that the National Electric Vehicle Policy would remain effective for five years, adding that the Ministry had consistently adopted five-year policy frameworks since 1990 to ensure continuity and stability.
\nSenator Anusha Rahman Ahmad Khan expressed concern over policy inconsistency, saying investors often face changes in taxation and regulatory regimes after making investments. She stressed that the Ministry should safeguard its policies to maintain investor confidence.
\nThe Committee was informed that the Government plans to establish 3,000 electric vehicle charging stations across the country by 2030. More than 72 licences have already been issued for charging stations, which will be developed under a public-private partnership model with government support.
\nOfficials said around 2.2 million electric vehicles of different categories are expected to be operating on Pakistan\u2019s roads by 2030. More than 12,800 electric vehicles and nearly 160,000 electric motorcycles have already been manufactured locally.
\nThe Committee was informed that the Government has allocated Rs9 billion in subsidies for electric two- and three-wheelers, while eligible buyers receive an Rs80,000 subsidy for purchasing an electric motorcycle. Around 5,700 beneficiaries have so far availed financing under the scheme.
\nSenator Anusha Rahman recommended that subsidies be paid directly to Original Equipment Manufacturers (OEMs) to improve transparency, while officials informed the Committee that ownership of subsidized electric motorcycles cannot be transferred for two years.
\nSenator Saleem Mandviwalla appreciated the Ministry\u2019s efforts to promote local manufacturing but questioned the adequacy of the proposed charging infrastructure, observing that Karachi alone would require between 4,000 and 5,000 charging stations. He also stressed the need to expand charging facilities to remote areas.
\nOfficials informed the Committee that electric motorcycles equipped with batteries ranging from 3 to 7 kilowatts require only a standard 220-volt power supply for charging, while advances in battery technology have increased vehicle range to approximately 400-500 kilometres. They added that companies including Star Charge and HUBCO have shown interest in establishing charging infrastructure in Pakistan.
\nThe Committee also reviewed the affairs of Pakistan Steel Mills. Officials informed members that employees\u2019 salaries had been released two months earlier, including payments to guarantors.
\nSenator Saleem Mandviwalla observed that Pakistan Steel Mills had remained non-operational for the past eleven years and that privatization had made no meaningful progress. He called for a thorough investigation into theft incidents at the Mills.
\nThe Committee was informed that around Rs15 billion in employee-related liabilities remain pending with the Finance Division. Officials also said theft incidents had increased since the closure of the Mills and that 83 suspects had been arrested during the past three months.
\nExpressing serious concern, the Committee observed that material worth approximately Rs10 billion had reportedly been stolen from Pakistan Steel Mills, while an inquiry into the matter has remained pending with the Federal Investigation Agency (FIA) since 2020.
\nThe Committee adopted the report of its sub-committee on Pakistan Steel Mills and constituted another sub-committee to examine increasing theft incidents and operational and administrative issues faced by PSM employees.<\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD The Senate Standing Committee on Industries and Production reviewed the National Electric Vehicle (NEV) Policy on Friday, emphasizing the need for policy continuity and stronger protection to boost investor confidence while also expressing serious concern over theft and governance issues at Pakistan Steel Mills (PSM). The meeting was held at Parliament House under the […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-554419","post","type-post","status-publish","format-standard","category-business"],"yoast_head":"\n