Latest news with #ElectricVehiclePolicy
Express Tribune
3 days ago
- Business
- Express Tribune
Govt considers levy on gasoline-powered cars to promote EVs
The federal government is likely to impose a five-year levy on vehicles powered by petrol and diesel in the upcoming fiscal year 2025-26 budget to promote electric vehicles (EVs) and has decided to establish an EV Fund to support the transition toward electric mobility. Sources said that if approved and implemented, this levy could generate annual revenue of Rs25-30 billion, amounting to Rs125-150 billion over the next five years. The collected revenue would be used to finance the new five-year Electric Vehicle Policy for 2026-30 and would be imposed on both imported and locally manufactured petrol and diesel driven vehicles. Meanwhile, the International Monetary Fund (IMF) has raised concerns about the government's proposal to provide idle electricity for Bitcoin mining and artificial intelligence operations, according to sources in the Finance Ministry. The IMF has sought an explanation for not being consulted on the use of electricity for Bitcoin mining and AI, as well as on electricity tariffs. A virtual discussion is scheduled with the IMF delegation specifically regarding electricity supply for Bitcoin mining. The IMF has also asked for clarification on the allocation of electricity for cryptocurrency operations, particularly since crypto remains unregulated in Pakistan. The IMF has insisted that all decisions under the loan programme be made with prior consultation. Sources confirm that Pakistan's economic team is facing tough questions during budget negotiations, and further hard discussions with the IMF regarding electricity supply initiatives are anticipated. According to sources, many key economic targets in the budget proposals have already been finalised in consultation with the IMF, while discussions on other areas are ongoing and expected to conclude in the coming days. It has also been proposed to offer incentives for the local manufacturing of laptop and smartphone batteries and chargers. Sources added that virtual consultations with the global lender are ongoing regarding budget proposals for the upcoming fiscal year, with an outcome expected soon. The draft budget will likely be finalised next week. Both Pakistan and the IMF have agreed to continue virtual talks on all outstanding matters. In the federal budget for fiscal year 2025-26, the government is likely to set a GDP target of 4.2%, an inflation target of 7.5%, an agricultural growth target of 4.5%, an industrial growth target of 4.4%, and a services sector growth target of 4%. The Annual Plan Coordination Committee (APCC) will convene on June 2 to finalise the Public Sector Development Program (PSDP) and the annual development plans. Later that same week, a key meeting of the National Economic Council (NEC), chaired by the prime minister, will be held where approval will be sought for the PSDP, annual development plans, and the Medium-Term Budgetary Framework proposed by the APCC. If adjustments or increases in funding for development projects are required, the NEC will approve them. The Economic Survey, detailing the performance of the current fiscal year, will be released on June 9. The federal budget will be presented in parliament the following day, June 10, after its approval by the federal cabinet in a special session.
Express Tribune
3 days ago
- Business
- Express Tribune
Govt considers levy on gasoline-powered cars to promote electric vehicles
Listen to article The government is considering a five-year levy on all vehicles powered by petrol and diesel to promote electric vehicle (EV) adoption in the country. It has also decided to establish an 'EV Fund' to support the growth of electric transportation. The EV Fund will be set up to facilitate electric vehicle adoption, and a levy is proposed on all petrol and diesel vehicles—both imported and locally manufactured—for the next five years. If approved and implemented, this levy could generate annual revenue of Rs25–30 billion, amounting to Rs125–150 billion over five years. The collected revenue would be used to finance the new five-year Electric Vehicle Policy for 2026–30. Meanwhile, the International Monetary Fund (IMF) has raised concerns about the government's proposal to provide idle electricity for Bitcoin mining and artificial intelligence operations, according to sources in the Finance Ministry. The IMF has sought an explanation for not being consulted on the use of electricity for Bitcoin mining and AI, as well as on electricity tariffs. A virtual discussion is scheduled with the IMF delegation specifically regarding electricity supply for Bitcoin mining. The IMF has also asked for clarification on the allocation of electricity for cryptocurrency operations, particularly since crypto remains unregulated in Pakistan. The IMF has insisted that all decisions under the loan programme be made with prior consultation. Sources confirm that Pakistan's economic team is facing tough questions during budget negotiations, and further hard discussions with the IMF regarding electricity supply initiatives are anticipated. According to sources, many key economic targets in the budget proposals have already been finalised in consultation with the IMF, while discussions on other areas are ongoing and expected to conclude in the coming days. It has also been proposed to offer incentives for the local manufacturing of laptop and smartphone batteries and chargers. Sources added that virtual consultations with the global lender are ongoing regarding budget proposals for the upcoming fiscal year, with an outcome expected soon. The draft budget will likely be finalised next week. Both Pakistan and the IMF have agreed to continue virtual talks on all outstanding matters. In the federal budget for fiscal year 2025-26, the government is likely to set a GDP target of 4.2%, an inflation target of 7.5%, an agricultural growth target of 4.5%, an industrial growth target of 4.4%, and a services sector growth target of 4%. The Annual Plan Coordination Committee (APCC) will convene on June 2 to finalise the Public Sector Development Program (PSDP) and the annual development plans. Later that same week, a key meeting of the National Economic Council (NEC), chaired by the prime minister, will be held where approval will be sought for the PSDP, annual development plans, and the Medium-Term Budgetary Framework proposed by the APCC. If adjustments or increases in funding for development projects are required, the NEC will approve them. The Economic Survey, detailing the performance of the current fiscal year, will be released on June 9. The federal budget will be presented in parliament the following day, June 10, after its approval by the federal cabinet in a special session.
Time of India
24-05-2025
- Automotive
- Time of India
No toll for e-vehicles on Atal Setu, E-ways; state highways next
Mumbai: Toll has been waived for electric cars and electric buses on Mumbai-Pune Expressway, Mumbai-Nagpur Samruddhi Expressway, and Atal Setu for the next five years, stated a government resolution (GR) issued on Friday. The GR also assured toll exemptions 'very soon' for electric vehicles (EVs) on all state highways under Public Works Department (PWD) jurisdiction. "The decision to gradually provide toll exemptions on state highways will be taken by the steering committee under the chairmanship of the chief secretary. The amount waived as toll exemption will be reimbursed to PWD by the transport department through supplementary provisions," the GR stated. The GR also emphasised strengthening the EV charging infrastructure across Maharashtra. "This will include setting up charging facilities for EVs at every 25km interval on state and national highways through public-private partnerships," it stated. "Each existing and new fuel station on state and national highways will have at least one EV charging facility. To achieve this, an MoU will be signed between the transport department and oil marketing companies. Also, each MSRTC bus station/depot will have at least one fast charging station." The GR added that the policy will facilitate the demonstration of sustainable transport models between the cities of Mumbai-Pune and Mumbai-Nagpur. The Electric Vehicle Policy, 2025 has included trucks, other heavy vehicles, agricultural tractors and harvesters, construction vehicles, ambulances, and solid waste transport vehicles. It also encourages the conversion of all civic vehicles, including dumper trucks, to electric. The state will provide subsidies for EVs to replace highly polluting heavy diesel vehicles, which pollute approximately 67 times more than cars. A senior official said Development Control rules will be changed to make it mandatory for all new housing societies/complexes to provide good infrastructure for EV charging and encourage adoption of EVs among the residents. Old housing societies will also get incentives from power utilities to set up EV charging infrastructure, it is learnt. The EV charging infrastructure will be mandatory in commercial spaces and govt offices. "We are also coordinating with civic corporations, which should create space for solid waste management dedicated to the disposal of EV batteries," the official said. There will be several fast-charging facilities on the Mumbai-Pune Expressway, Samruddhi, and other highways. The new policy also looks at 30% of new EV registrations for all vehicles, 40% for two- and three-wheelers, 30% for cars/SUVs, 50% for aggregator cabs like Ola and Uber, and 15% for private buses in the coming years. "By 2030, we aim to reduce 325 tonnes of PM 2.5 emissions and 1 million tonnes of greenhouse gas emissions from the transport sector in Maharashtra," a senior official from Mantralaya said. Get the latest lifestyle updates on Times of India, along with Brother's Day wishes , messages and quotes !
Time of India
30-04-2025
- Automotive
- Time of India
Toll-free ride for EVs on E-way, Atal Setu, Samruddhi
State govt, unveiling its Electric Vehicle Policy, 2025, announced 100% toll exemption for 4-wheeler passenger vehicles and EV buses on Mumbai-Pune Expressway, Samruddhi Highway and Atal Setu for 5 years. The cabinet cleared the policy Tuesday. The govt is also considering making it toll-free for EV cars and buses on all highways across the state, transport minister Pratap Sarnaik said. Besides strengthening charging infrastructure, it is planning to make it mandatory for all new CHS and complexes to provide infrastructure for charging and encourage EV adoption, reports Somit Sen. EVs can roll on E-way, Atal Setu, Samruddhi toll-free The state govt has announced 100% toll exemption for electric four-wheeler passenger vehicles and EV buses on the Mumbai-Pune Expressway, Samruddhi Highway, and Atal Setu for five years. This was part of the new Electric Vehicle policy, 2025, unveiled by the govt and cleared by the cabinet headed by chief minister Devendra Fadnavis on Tuesday. Transport minister Pratap Sarnaik said the govt was also considering making it tollfree for EV cars and buses on all other highways across Maharashtra soon. The old EV policy, which was unveiled by former environment minister Aaditya Thackeray in July 2021 has not been completely ignored. Sources said that the incentives for two, three and four wheelers continue as per that policy, except that the category of vehicles has now been widened in the new policy. Additional chief secretary (transport) Sanjay Sethi told TOI, "The new policy has included trucks, other heavy vehicles, agricultural tractors and harvesters, construction vehicles, ambulances, and solid waste transport vehicles. We are also encouraging conversion of all civic corporation (for example, BMC) vehicles to electric and this includes dumper trucks. The state will provide subsidies for EVs to replace highly polluting heavy diesel vehicles, which pollute 67 times more than cars." Sethi further said that an important aspect of the new EV policy was strengthening the charging infrastructure. "We will have several fast-charging facilities on the Expressway, Samruddhi and on other highways. We are signing MoUs with petrol pumps in the city and on highways to ensure that there are four to five charging points at all pumps and also at ST stands and depots, which will remove range anxiety of EV riders," he said. "By 2030, we aim to reduce 325 tons of PM 2.5 emissions and 1 million tons of Greenhouse Gas emissions from the transport sector in Maharashtra." Development control (DC) rules will be changed to make it mandatory for all new housing societies/complexes to provide good infrastructure for EV charging and encourage adoption of EVs within the society, he said. The old housing societies will also get incentives from power utilities to set up charging infrastructure. EV charging infra will be mandatory in commercial spaces and govt offices.
United News of India
29-04-2025
- Automotive
- United News of India
Maha: Cabinet decides to provide large subsidy for electric vehicles
Mumbai, Apr 29 (UNI) The Maharashtra Cabinet, headed by Chief Minister Devendra Fadnavis, on Tuesday took a decision to provide a large subsidy for electric vehicles. The government had approved the new electric vehicle policy in the Cabinet meeting held here and decided to waive toll on some roads for some electric vehicles under the Electric Vehicle Policy. It had also decided to provide a large subsidy for electric vehicles. Along with this, the government had also announced a big help to the families of six deceased tourists from Maharashtra, who were killed in terror attack at Pahalgam in Jammu and Kashmir. Fadnavis announced financial assistance of Rs 50 lakh each to the families of the victims. UNI SP-VKB SS
