Pakistan says soaring oil prices may accelerate the achievement of electric vehicle targets

智通财经2026/10/08 06:11

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A senior Pakistani government official stated that, as oil prices soar and the appeal of gasoline-powered vehicles drops, Pakistan is expected to achieve its electric vehicle adoption targets ahead of schedule. According to policies announced last year, the government's goal is for electric vehicles to account for 30% of new car sales by 2030. Haroon Akhtar, Advisor to the Prime Minister on Industry and Production, said the rise in fuel costs since the Middle Eastern conflict has shortened the time required for consumers to recoup the higher upfront costs of electric vehicles. He stated: "I believe the goals set in our electric vehicle policy last year will be achieved sooner, as the surge in oil prices has reduced the payback period for electric vehicles to one to one and a half years. People are starting to realize the benefits now, namely that they no longer have to pay for gasoline."

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A senior Pakistani government official stated that, as oil prices soar and the appeal of gasoline-powered vehicles decreases among consumers, Pakistan is expected to reach its electric vehicle adoption target ahead of schedule. According to a policy announced last year, the government's goal is for electric vehicles to account for 30% of new car sales by 2030. Haroon Akhtar, Adviser to the Prime Minister on Industries and Production, said that since the outbreak of conflict in the Middle East, rising fuel costs have shortened the time consumers need to recoup the higher upfront cost of electric vehicles. He stated: “I believe the target we set last year in our electric vehicle policy will be achieved earlier, as rising oil prices have reduced the cost recovery period for electric vehicles to one to one and a half years. People are now beginning to realise the benefits, namely that they no longer have to pay for gasoline.”

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