Kh Asif proposes replacement of petrol bikes with e-bikes
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Defense Minister Khawaja Asif Tuesday said that phasing out petrol-powered motorcycles and replacing them with electric ones is being sought by the government, reported 24NewsHD TV channel.
He addressed the National Energy Conservation Policy conference on Tuesday and said that this will be very beneficial for the national economy, the people, and most importantly the environment.
He added that the government will promote and propagate the introduction of electric bikes and later on incentivize the sales, purchase, and local manufacture of electric bikes. This plan will save up to Rs86 billion per year.
The regulatory customs duty (RD) SRO on the import of electric vehicles (EVs) has been terminated which has prompted a debate regarding the feasibility and capability of EV imports.
As Pakistan is rapidly losing foreign exchange reserves and the economy is on the verge of crashing, people are very doubtful of this idea.
After SRO1571 (I)/2022 ended in November of 2022, the prices of Electric Vehicles dropped significantly. Taking about Audi especially, the German Motor company faced fall of Rs20 million in the price of E-Tron. Likewise, several other carmakers reduced the prices of their EVs following the RD abolishment.
This gave birth to rumors suggesting that the public who had kept their luxury EVs from importing in foreign countries may begin importing them now that the customs RD has expired.
It was also reckoned that the elimination of RDs on EV imports may unleash a tidal wave of premium EV imports, which may also lead to a new SRO. They also speculated that this development will cause foreign exchange to drop further down.