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Business Recorder
20-05-2025
- Business
- Business Recorder
Punjab Agri Dept, Margalla Heavy Industries Taxila sign MoU
LAHORE: A Memorandum of Understanding (MoU) was signed Monday between the Agriculture Department Punjab and Margalla Heavy Industries Limited, Taxila, to carry out the repair and maintenance of 20 bulldozers from the field wing of the agriculture department Punjab by the heavy industries. The MoU was signed in the presence of Minister for Agriculture Punjab Syed Ashiq Hussain Kirmani and Secretary Agriculture Punjab Iftikhar Ali Sahoo at a ceremony at the Agriculture House, Lahore. The MoU was formally signed by Director General Field (Agriculture), Sajid Naseer, and Chief Executive Officer of Heavy Industries Taxila, Brigadier Nadeem Ahmed. Brigadier Jawad (r) from Heavy Industries Taxila, Special Secretary Agriculture Agha Nabeel Akhtar, Additional Secretary Agriculture (Planning) Captain Waqas Rasheed, and Additional Director General (Engineering) Multan, Afzal Tahir were also present on this occasion. Following the signing ceremony, Minister for Agriculture and Livestock Punjab, Syed Ashiq Hussain Kirmani, chaired a review meeting on the Chief Minister's Wheat Support Programme and Kisan Card Phase II. Speaking at the meeting, the Minister stated that under these programmes, disbursement of funds to farmers through the Bank of Punjab will commence on May 22. He was informed that 487,000 farmers have already repaid their loans under the first phase of the Kisan Card scheme. He emphasized that to benefit from all agricultural initiatives of the government, possession of a Kisan Card must be made mandatory. He further noted that the scope of Kisan Card Phase II has been expanded, increasing the loan limit to Rs300,000, eliminating transaction charges, and introducing a facility for diesel purchase. In addition to Kisan Card holders, other farmers are also applying for the wheat support program via the dedicated portal, with 250,000 applications already received. The deadline to apply for this program is May 31. Through the same portal, an additional 100,000 farmers can register for new Kisan Cards. A total of Rs10 billion will be distributed among 500,000 farmers under the wheat support programme. The Bank of Punjab has approved over 542,000 farmer applications for Kisan Card Phase II, and the Punjab Land Records Authority (PLRA) has completed verification for nearly 500,000 of them. Iftikhar Ali Sahoo stressed the need to intensify the awareness campaign across social media, electronic media, and print media to ensure that more farmers can benefit from the government's loans and incentives. Copyright Business Recorder, 2025
Express Tribune
28-04-2025
- Automotive
- Express Tribune
EV momentum grows amid challenges
Pakistan's electric vehicle (EV) landscape is showing promising signs of growth, with increasing efforts to localize production and promote widespread adoption. However, the sector faces significant challenges, including capacity and load management issues within distribution companies (DISCOs), which currently make long-route EV bus operations unfeasible. The country's underdeveloped charging infrastructure and high financing barriers further limit EV usage to short-distance, urban commutes. Additionally, high battery costs and economic instability complicate the adoption process. "Consistent with experience in several countries of the world, the big push and impetus on EV adoption and conversion would come with tangible government support in the form of subsidies and tax credits," said Umer Khan, Head of Investment Banking at Bank of Punjab while speaking at The second Electric Vehicles (EV) Conference organised by the Climate Action Centre (CAC) and PakEVO. Further, there are significant pools of liquidity and credit enhancements available for climate finance and EV projects, which need to be accessed with the right pitch to international DFIs, he commented. Dr Aazir Khan underlined the missed opportunities from previous years when Pakistan's economic situation prevented budget allocations to key EV initiatives. "We must ensure that fiscal priorities align with sustainable energy goals, especially when climate resilience and green infrastructure are no longer optional," he emphasised. The discussions revealed that while global EV sales grew by nearly 40% between 2023 and 2024, Pakistan's market penetration remains dismally low. Yet, the mood remained cautiously optimistic as several developments signalled momentum. Among them was Daewoo's ambitious plan to replace diesel buses with EVs on shorter intercity routes, including connections between cities near Lahore, such as Sialkot. "Our goal is that within the next two years, we will convert our entire short-route fleet to electric," Sheriar Hassan from Daewoo said during the first panel, adding that financing collaborations with BOP are already underway. However, distribution companies (DISCOs) face serious capacity and load management challenges, making long-route EV bus operations currently unfeasible. Sheriar noted that while Daewoo successfully initiated its first electric bus pilot project between Lahore and Sialkot, the larger intercity network such as Islamabad to Lahore will require time and significant investment to scale.
Express Tribune
28-04-2025
- General
- Express Tribune
'Seat 1C' launched with life lessons from a plane crash
Zafar Masud, the banker who miraculously survived the plane crash in Karachi five years ago involving the national airline, shared his story at the launch of his book, Seat 1C. Speaking at the event, he stated "I wrote this book primarily for myself, but it contains life lessons that can be beneficial for everyone." The book not only narrates his personal story but also addresses important topics such as mental therapy, the significance of traditions, courage, arrogance, and "survivor's guilt." Following the book launch, Masud was invited for a discussion and Q&A session at Habib University, where he spoke about the experiences, emotions, and reflections before, during, and after the crash, as captured in his book. The session was moderated by journalist Naveen Naqvi, and was attended by literary circles, academia, students, various figures from the banking sector, and professionals from different fields. Masud, who is also the president of the Bank of Punjab, claimed that surviving a plane crash is an experience unlike any other, and that extensive research went into the background of the book, drawing from survival stories around the world. He emphasised that in life, certain lessons are crucial and must not be overlooked, stressing that the book does not promote any political ideology; rather, it focuses on history, research, and life lessons valuable to all individuals. Masud also mentioned that literature is the best medium to express themes related to education and the economy, and this belief motivated him to write the book, which he believes can especially serve as a learning resource for youth and students. He shared that one of his favorite chapters is about rituals, where he recounts the kindness of people who immediately came to his aid after the crash. He recalled how the vehicle that transported him was later destroyed, but he remained deeply grateful for the good people who were there for him at the right time. The book also dedicates an entire chapter to the topic of arrogance, shedding light on the possible causes of the plane crash. According to Masud, the pilot's overconfidence was a major factor; despite warnings from his subordinates about landing issues, the pilot chose not to listen. Masud stated "I am an optimistic person. Without the prayers of my grandfather and the help of good people, I wouldn't be here today. Courage means not fleeing from challenges but standing firm."
Business Recorder
28-04-2025
- Automotive
- Business Recorder
‘Govt subsidies, tax credits crucial for a big push in EV adoption'
LAHORE: The 2nd Electric Vehicles (EV) conference held in Lahore on Saturday brought together industry leaders, policymakers, financiers, and climate advocates to accelerate discussions around Pakistan's EV landscape, highlighting the sector's promise and challenges. Organized by the Climate Action Centre (CAC) and PakEVO, and sponsored by Bank of Punjab, the conference marked an important step in aligning public and private efforts to foster EV adoption and localization in the country. Umer Khan, Head Investment Banking, FI & Corporate Banking Central at Bank of Punjab in his keynote expressed confidence about the prospects of EV and allied infrastructure in Pakistan. 'Consistent with experience in several countries of the world, the big push and impetus on EV adoption and conversion would come with tangible government support in the form of subsidies and tax credits,' he said. 'Further, there are significant pools of liquidity and credit enhancements available for climate finance and EV projects, which need to be accessed with the right pitch to international DFIs,' he added. In his keynote, Dr. Aazir Khan introduced PakKEVO, a newly launched initiative aimed at promoting EV-related education, collaboration, and policy reform. He underlined the missed opportunities of past years when Pakistan's economic situation prevented budget allocations to key EV initiatives. 'We must ensure that fiscal priorities align with sustainable energy goals, especially when climate resilience and green infrastructure are no longer optional,' Dr Aazir emphasized. The discussions revealed that while global EV sales grew by nearly 40% between 2023 and 2024, Pakistan's market penetration remains dismally low. Yet the mood remained cautiously optimistic as several developments signalled momentum. Among them was Daewoo's ambitious plan to replace diesel buses with EVs on shorter intercity routes such as between cities close to Lahore such as Sialkot. 'Our goal is that within the next two years, we will convert our entire short-route fleet to electric,' Sheriar Hassan from Daewoo said during the first panel, adding that financing collaborations with BOP are already underway. Distribution companies (DISCOs) also face serious capacity and load management challenges, making long-route EV bus operations currently unfeasible. Sheriar noted that while Daewoo successfully initiated its first electric bus pilot project between Lahore and Sialkot, the larger intercity network such as Islamabad and Lahore will require time and significant investment to scale. Panellists also highlighted that Pakistan has a strong opportunity to leapfrog into a regional EV manufacturing hub. Localization emerged as a central theme, with Nauman Alvi of EVEE Motors pointing out that the surge in two-wheeler sales — 1.4 million units in 2024 — was largely because of local production of affordable 70cc and 125cc models. He called for similar localization efforts for EV parts, beginning with plastic parts that account for 15-20% of vehicle costs, and stressed that widespread EV adoption hinges on achieving economies of scale. Noman Alvi shared insights from the company's experience, highlighting that 20% of EV users in Pakistan are women compared to less than 1% in traditional automotive markets, showing that female education and awareness campaigns are crucial for driving adoption. In her remarks, DFML key official Saleha Hassan challenged the misconception that EVs are merely luxury vehicles, saying, 'It's a utility decision — you invest in EVs because you invest in lifestyle change.' She added that hatchbacks represent 52% of the EV market, demonstrating strong consumer preference. Saleha's company DFML is making the hatchback EV Honri. She also said that CBUs should be discouraged while CKD assembly is something the government should support. Despite these encouraging signals, major hurdles persist. Pakistan's charging infrastructure remains underdeveloped, limiting EVs largely to short-distance, urban commutes. Financing barriers add another layer of complexity. Globally, high battery costs (constituting 30-40% of EV expenses) and uncertainties around resale values deter buyers. In Pakistan, the situation is compounded by economic instability, high interest rates, and a scarcity of consumer financing options. However, success stories such as the CM Punjab's Interest-Free Bike Scheme offer replicable models for wider EV financing programs. The conference also explored innovative financing mechanisms like green bonds, battery leasing, and partnerships between public and private sectors. Panellists cited global examples like the US Inflation Reduction Act and Europe's zero-interest loans to show how strategic financing can catalyze EV ecosystems. Speakers unanimously agreed that strong policy support and collaboration between government, financiers, and manufacturers are pivotal. Yasir Husain, Director at CAC and the chief organizer of the conference, said, 'Climate action needs to move from buzzwords to boardrooms, from talks to transactions — and EVs provide a bridge between economic resilience and environmental responsibility.' Throughout the sessions, voices from the manufacturing and financial sectors underscored that local assembly initiatives can position the country as a strategic export hub. Localization of battery production is also expected to begin soon, promising a more sustainable supply chain. Zulfiqar Younas from the Ministry of Climate Change and Dr. Umer Masud, Secretary of the Ministry of Industries and Production (MoIP) also spoke on the occasion. The conference concluded on a high note, with participants emphasizing the need for urgent, coordinated action to capitalize on the sector's potential. With the global EV market expanding and Pakistan's youth-driven demographics offering a ripe consumer base, stakeholders agreed that the time for piecemeal efforts is over — a national EV ecosystem is no longer just an environmental goal, but an economic necessity. Copyright Business Recorder, 2025
Business Recorder
28-04-2025
- Automotive
- Business Recorder
2nd EV conference brings together industry leaders, policymakers, financiers, others
LAHORE: The 2nd Electric Vehicles (EV) conference held in Lahore on Saturday brought together industry leaders, policymakers, financiers, and climate advocates to accelerate discussions around Pakistan's EV landscape, highlighting the sector's promise and challenges. Organized by the Climate Action Centre (CAC) and PakEVO, and sponsored by Bank of Punjab, the conference marked an important step in aligning public and private efforts to foster EV adoption and localization in the country. Umer Khan, Head Investment Banking, FI & Corporate Banking Central at Bank of Punjab in his keynote expressed confidence about the prospects of EV and allied infrastructure in Pakistan. 'Consistent with experience in several countries of the world, the big push and impetus on EV adoption and conversion would come with tangible government support in the form of subsidies and tax credits,' he said. 'Further, there are significant pools of liquidity and credit enhancements available for climate finance and EV projects, which need to be accessed with the right pitch to international DFIs,' he added. In his keynote, Dr. Aazir Khan introduced PakKEVO, a newly launched initiative aimed at promoting EV-related education, collaboration, and policy reform. He underlined the missed opportunities of past years when Pakistan's economic situation prevented budget allocations to key EV initiatives. 'We must ensure that fiscal priorities align with sustainable energy goals, especially when climate resilience and green infrastructure are no longer optional,' Dr Aazir emphasized. The discussions revealed that while global EV sales grew by nearly 40% between 2023 and 2024, Pakistan's market penetration remains dismally low. Yet the mood remained cautiously optimistic as several developments signalled momentum. Among them was Daewoo's ambitious plan to replace diesel buses with EVs on shorter intercity routes such as between cities close to Lahore such as Sialkot. 'Our goal is that within the next two years, we will convert our entire short-route fleet to electric,' Sheriar Hassan from Daewoo said during the first panel, adding that financing collaborations with BOP are already underway. Distribution companies (DISCOs) also face serious capacity and load management challenges, making long-route EV bus operations currently unfeasible. Sheriar noted that while Daewoo successfully initiated its first electric bus pilot project between Lahore and Sialkot, the larger intercity network such as Islamabad and Lahore will require time and significant investment to scale. Panellists also highlighted that Pakistan has a strong opportunity to leapfrog into a regional EV manufacturing hub. Localization emerged as a central theme, with Nauman Alvi of EVEE Motors pointing out that the surge in two-wheeler sales — 1.4 million units in 2024 — was largely because of local production of affordable 70cc and 125cc models. He called for similar localization efforts for EV parts, beginning with plastic parts that account for 15-20% of vehicle costs, and stressed that widespread EV adoption hinges on achieving economies of scale. Noman Alvi shared insights from the company's experience, highlighting that 20% of EV users in Pakistan are women compared to less than 1% in traditional automotive markets, showing that female education and awareness campaigns are crucial for driving adoption. In her remarks, DFML key official Saleha Hassan challenged the misconception that EVs are merely luxury vehicles, saying, 'It's a utility decision — you invest in EVs because you invest in lifestyle change.' She added that hatchbacks represent 52% of the EV market, demonstrating strong consumer preference. Saleha's company DFML is making the hatchback EV Honri. She also said that CBUs should be discouraged while CKD assembly is something the government should support. Despite these encouraging signals, major hurdles persist. Pakistan's charging infrastructure remains underdeveloped, limiting EVs largely to short-distance, urban commutes. Financing barriers add another layer of complexity. Globally, high battery costs (constituting 30-40% of EV expenses) and uncertainties around resale values deter buyers. In Pakistan, the situation is compounded by economic instability, high interest rates, and a scarcity of consumer financing options. However, success stories such as the CM Punjab's Interest-Free Bike Scheme offer replicable models for wider EV financing programs. The conference also explored innovative financing mechanisms like green bonds, battery leasing, and partnerships between public and private sectors. Panellists cited global examples like the US Inflation Reduction Act and Europe's zero-interest loans to show how strategic financing can catalyze EV ecosystems. Speakers unanimously agreed that strong policy support and collaboration between government, financiers, and manufacturers are pivotal. Yasir Husain, Director at CAC and the chief organizer of the conference, said, 'Climate action needs to move from buzzwords to boardrooms, from talks to transactions — and EVs provide a bridge between economic resilience and environmental responsibility.' Throughout the sessions, voices from the manufacturing and financial sectors underscored that local assembly initiatives can position the country as a strategic export hub. Localization of battery production is also expected to begin soon, promising a more sustainable supply chain. Zulfiqar Younas from the Ministry of Climate Change and Dr. Umer Masud, Secretary of the Ministry of Industries and Production (MoIP) also spoke on the occasion. The conference concluded on a high note, with participants emphasizing the need for urgent, coordinated action to capitalize on the sector's potential. With the global EV market expanding and Pakistan's youth-driven demographics offering a ripe consumer base, stakeholders agreed that the time for piecemeal efforts is over — a national EV ecosystem is no longer just an environmental goal, but an economic necessity. Copyright Business Recorder, 2025
