Government aims to attract investment and promote local EV manufacturing
In a major move to promote sustainable transportation, Pakistan’s Ministry of Industry has partnered with the International Finance Corporation (IFC) to accelerate the development of the country’s electric vehicle (EV) ecosystem.
The agreement, recently signed between the Ministry and the IFC, aims to attract both domestic and foreign investment into the EV sector. The collaboration is seen as a key step forward in Pakistan’s broader strategy to modernize its transportation infrastructure and reduce its reliance on imported fossil fuels.
As part of the initiative, the government is undertaking policy and regulatory reforms to encourage local manufacturing of electric vehicles. Officials believe these measures will create a more favorable environment for investors and industry stakeholders.
Experts have lauded the partnership as a timely and strategic move. Increased adoption of EVs, they say, could play a vital role in reducing greenhouse gas emissions and curbing air pollution in Pakistan’s rapidly growing urban centers.
“The support from IFC is not just financial — it brings technical expertise and investor confidence to Pakistan’s EV ambitions,” said one industry analyst. “This could help Pakistan emerge as a serious player in the regional electric mobility landscape.”
The move aligns with global trends as countries pivot toward cleaner energy alternatives. With the right incentives and infrastructure in place, Pakistan hopes to position itself at the forefront of the electric vehicle transition in South Asia.
