ISLAMABAD: The Ministry of Industries is likely to finalise the National Electric Vehicle (NEV) policy in October, which aims to promote local manufacturing and early adaption of electric vehicles (EVs) and new energy vehicles (NEVs) to ensure a sustainable transport system.

It was decided in the first Steering Committee on Electric Vehicles meeting held on Tuesday, chaired by Minister for Industries and Production Rana Tanveer Hussain.

The meeting noted that the policy would promote local manufacturing, early adaption of EVs and NEVs, energy efficiency, and transition to clean technologies in the automotive sector.

The steering committee will also oversee the replacement of conventional vehicles with EVs in the federal government, and the next meeting will discuss plans to develop a financial structure for demand incentivisation of EVs and NEVs through grants provided in the federal budget.

The meeting was attended by Minister for Energy Sardar Awais Ahmad Khan Leghari, Secretary Industries and Production Saif Anjum and senior officers from relevant ministries and departments.

As the proposals presented by various stakeholders were reviewed, the committee will meet next week to deliberate further on the matter.

The prime minister`s office recently constituted a steering committee to develop a comprehensive policy to promote local manufacturing and early adaption of EVs, including NEVs, to help transition to clean technologies in the automotive sector.

The TORs of the committee included the development of a nationwide plan for quick deployment of an appropriate number of charging stations at selected locations on highways and urban centres with the support of oil marketing companies and the National Highway Authority to enable the use of existing EVs for inter-city and intra-city transportation.