A high-level meeting on accelerating electric vehicle (EV) adoption in Pakistan was held under the chairmanship of Special Assistant to the Prime Minister on Industries and Production Haroon Akhtar Khan. The session centered around the EV Financing Scheme and its critical enablers, with a particular focus on insurance-related challenges. Discussions addressed factors such as insurance premiums, risk mitigation for battery theft, and advancements in anti-theft security technologies for EVs. The meeting brought together stakeholders from insurance firms and leading EV manufacturers to deliberate on making the EV ecosystem more accessible and secure for the public.
EV manufacturers provided detailed briefings on the technological strides made in ensuring vehicle and battery safety. Updates included integration of advanced GPS-based tracking solutions, improved locking mechanisms, and tamper-proof battery enclosures. These innovations aim to reduce theft-related risks, a concern often cited as a barrier to wider EV ownership. Manufacturers emphasized the advantages of lithium-ion batteries, citing their resilience under Pakistani climate conditions and overall lower environmental impact. They reiterated that modern lithium-ion battery designs have significantly reduced fire hazards and theft risks, making them a viable solution for local EV deployments.
In light of these technological improvements, SAPM Haroon Akhtar instructed insurance companies to propose tailored insurance rate quotations for electric motorcycles, rickshaws, and cars by the coming Tuesday. He called for competitive and affordable pricing models that align with public interest and government policy goals. The SAPM assured industry participants that the government would prioritize insurance packages that offer the best balance of safety coverage and financial feasibility for potential EV owners.
The meeting underscored the government’s broader commitment to sustainable transportation under the National Electric Vehicle Policy, which aims to reduce dependence on fossil fuels and lower carbon emissions. By tackling one of the most cited hurdles—insurance costs—officials aim to create a more supportive environment for individuals and businesses to transition to electric mobility. Haroon Akhtar reaffirmed that promoting electric vehicles remains a key component of the vision of Prime Minister Shehbaz Sharif to curb environmental pollution while enabling economic and technological growth in the transportation sector.
With support from policymakers, insurance providers, and EV manufacturers, the EV Financing Scheme is positioned as a central pillar of Pakistan’s green mobility roadmap. The policy encourages affordable access, enhanced vehicle safety, and ecosystem collaboration to accelerate the shift toward electric transport in urban and rural markets.
