ISLAMABAD – Pakistan has joined forces with the International Finance Corporation (IFC) to accelerate investment in electric two- and three-wheeler vehicles (e-2/3Ws). This collaboration aims to create a supportive policy and regulatory framework to boost local manufacturing and adoption of EVs.
The Ministry of Industries and Production signed the agreement, with Special Assistant to the Prime Minister Haroon Akhtar Khan emphasizing the importance of sustainable transportation. He highlighted the need for localization, aggregated procurement, and affordable financing to meet national EV targets.
IFC will provide technical support and work with key regulators, including the Engineering Development Board and National Energy Efficiency and Conservation Authority, to streamline the e-2/3Ws market. The initiative aligns with Pakistan’s National Electric Vehicle Policy (NEVP) 2019, which targets 30% EV adoption by 2030.
This partnership is funded by the CIFPAK facility, a climate-focused program managed by IFC, and supports Pakistan’s broader sustainability goals.
