Investment in electric two- and three-wheelers aims to reduce reliance on imported fossil fuels and improve air quality.
Key Takeaways:
i) The partnership between the Ministry of Industries & Production and the IFC is set to accelerate the adoption of electric vehicles (EVs) in Pakistan, particularly two- and three-wheelers.
ii) This initiative aims to reduce Pakistan’s dependence on imported fossil fuels, which currently constitute a significant portion of the import bill.
iii) The project supports the implementation of the National Electric Vehicle Policy (NEVP) 2019, targeting 30% of vehicles running on electricity by 2030.
Islamabad, Pakistan – April 19, 2025 – In a move to promote electric mobility, Pakistan’s Ministry of Industries and Production has partnered with the International Finance Corporation (IFC) to boost investment in electric two- and three-wheeler vehicles (e-2/3Ws). This collaboration seeks to establish a conducive policy and regulatory environment, remove investment barriers, and facilitate sustainable transportation solutions aligned with Pakistan’s national climate goals.
The IFC will provide technical support and work closely with key regulatory bodies, including the Engineering Development Board (EDB), National Energy Efficiency and Conservation Authority (NEECA), and Pakistan Standards and Quality Control Authority (PSQCA). The goal is to build institutional capacity and streamline the regulatory framework to encourage local manufacturing and the uptake of electric vehicles.
Secretary of Industries and Production, Saif Anjum, stated that this partnership will provide a “timely boost” to Pakistan’s e-mobility shift. He emphasized that with over 23 million two- and three-wheelers on Pakistani roads, transitioning to sustainable transportation requires significant public and private investment in clean energy solutions.
This initiative is part of a joint IFC-World Bank e-mobility project and will support the implementation of the National Electric Vehicle Policy (NEVP) 2019, which aims for 30% of vehicles to be electric by 2030.
IFC’s Country Manager for Pakistan and Afghanistan, Zeeshan Sheikh, reaffirmed the institution’s commitment to reducing Pakistan’s reliance on imported fossil fuels and improving urban air quality. “This project supports Pakistan’s broader sustainability goals and aligns with the World Bank Group’s 10-year Country Partnership Framework by promoting innovative, energy-efficient transport solutions,” he said.
This initiative is part of a joint IFC-World Bank e-mobility project and will support the implementation of the National Electric Vehicle Policy (NEVP) 2019, which aims for 30% of vehicles to be electric by 2030. The project addresses key regulatory and safety standards to boost e-2/3W manufacturing.
