ISLAMABAD: Prime Minister Shehbaz Sharif on Saturday directed the relevant authorities to finalise a comprehensive financial framework for electric vehicles by November this year and to streamline licensing regulations for their manufacture in Pakistan.

Chairing a meeting in Islamabad, the prime minister instructed that essential consultations be held with the Ministry of Finance, the State Bank of Pakistan, all provinces, federal units, and other stakeholders regarding the electric vehicles (EV) policy.

Shehbaz Sharif emphasised, `The government is prioritising the promotion of electric vehicles in the country.

He highlighted that these vehicles will not only conserve valuable foreign exchange by reducing petrol and diesel imports but will also offer significant environmental benefits.

The prime minister also announced plans to distribute electric motorbikes to exceptional students from government schools, following a model similar to the laptop scheme.

The prime minister further stated that moving forward, all federal government institutions would exclusively purchase electric motorbikes to conserve nationalresources.

He instructed that directives be issued to all federal ministries accordingly.

Additionally, the prime minister directed theCapital Development Authority (CDA) to develop a detailed plan for the implementation of electrified public transport in Islamabad.

During the briefing, it was reported that since 2022, 49 licences had been issued for the local production of twoand three-wheeled electric vehicles, with 25 factories already operational.

The forum was also informed that the first licence for domestic production of four-wheeled electric vehicles was issued in September this year, with the first locally manufactured electric car expected to hit the market by December.

The meeting was informed that the country currently has 45,000 twoand three-wheeled electric vehicles and 2,600 four-wheeled electric vehicles.

The installation of recharging stations for electric vehicles will be prioritised along motorways, GT Road (National Highway 5), and National Highways 65 and 70.

The meeting was attended by Federal Minister for Economic Affairs Ahad Khan Cheema, Federal Minister for Industries and Production Rana Tanveer Hussain, Federal Minister for Power Owais Ahmed Khan Leghari, Federal Minister for Science and Technology Dr Khalid Maqbool Siddiqui, Minister of State for Finance and Revenue Ali Pervaiz Malik, Prime Minister`s Coordinator for Climate Change Romina Khurshid Alam, Prime Minister`s Coordinator Rana Ihsaan Afzal, and other senior government officials.-APP