Latest news with #NationalElectricVehiclePolicy
Business Recorder
11 hours ago
- Automotive
- Business Recorder
National EV Policy: Atlas Honda to launch electric scooter in Pakistan this fiscal year
Atlas Honda announced on Tuesday of launching an electric scooter tailored for Pakistani consumers in the current fiscal year. As per an official notice sent to the Pakistan Stock Exchange (PSX), the company announced its intention following the government's announcement of the National Electric Vehicle Policy. As per Special Assistant to the Prime Minister on Industries and Production Haroon Akhtar Khan, the new EV policy was aligned with the prime minister's vision of promoting clean, sustainable, and affordable transportation while encouraging local industry and protecting the environment. Akhtar said one of the major targets under the policy was to ensure that 30% of all new vehicles sold in Pakistan by 2030 would be electric. The transition is projected to save 2.07 billion litres of fuel annually, amounting to nearly $1 billion in foreign exchange savings. Meanwhile, Honda said that it was working closely with regulatory bodies to secure permissions and approvals to ensure a smooth rollout. 'After completing the necessary quality and road tests, the company plans to launch the product in the current financial year,' the company wrote to PSX. Honda has tested Electric Vehicle (EVs) in the past. In 2023, the company unveiled its electric scooter 'BENLEY e' during a 'soft' launch at its Sheikhupura factory. Chief Officer of Motorcycle and Power Products at Atlas Honda Noriaki Abe said at the event that 'BENLY e' will be offered for test marketing while new products will be offered based on feedback.
Business Recorder
7 days ago
- Automotive
- Business Recorder
Below 850cc cars: Pak Suzuki MD voices concern over proposed GST hike
ISLAMABAD: Pak Suzuki Motors Managing Director (MD) Hiroshi Kawamura, Tuesday, voiced concern over the proposed increase in sales tax on vehicles under 850cc from 12.5 percent to 18 percent, warning that such measures could adversely affect the automotive sector. During a meeting with Special Assistant to the Prime Minister (SAPM) on Industries and Production Haroon Akhtar Khan here, MD Pak Suzuki Motors, while discussing budgetary impact on auto sector, said that it will not have a positive impact on industry. The SAPM, while explaining the impact of the federal budget and the proposed new tariff policy on the automotive industry, stated that since Pakistan was in an IMF programme, so, under such a situation it cannot continue providing tax exemptions to any sector as it has not served the purpose. The MD Pak Suzuki argued that the increased tax burdens are typically passed on to consumers and could lead to higher vehicle prices, reducing affordability and dampening market demand. 'The impact of higher sales tax is always borne by customers,' Kawamura remarked and cautioned that the resultant price hikes may hinder industry growth and put pressure on production. In response, SAPM Haroon Akhtar reiterated the government's resolve to support the auto industry, emphasising that Prime Minister Shehbaz Sharif is deeply committed to the growth of the sector and is fully aware of the challenges it faces. 'Yes, there are challenges,' Haroon stated, 'but progress demands unity and collaboration. The auto industry is a vital source of employment and local manufacturing strength.' He assured that the prime minister would not allow the sector to falter and pledged continued engagement with industry stakeholders to navigate challenges and seize growth opportunities. In another meeting with chief of another automaker, Haroon Akhtar Khan discussed the strategic challenges facing Pakistan's automotive industry and the potential implications of the federal budget on the sector. Danial Malik, chief executive officer of Master Changan Motors called on the SAPM to present the reservations of the auto sector. The two sides focused on the importance of transitioning towards New Energy Vehicles (NEVs), especially electric vehicles, as a national priority. Malik emphasised the need for sustained policy support and industry-friendly measures to ensure a stable and growth-oriented environment. Haroon Akhtar reaffirmed the government of Pakistan's commitment to implementing a sustainable and modern auto policy aligned with global trends. He announced that the National Electric Vehicle Policy will soon be unveiled. 'The prime minister envisions Pakistan's auto industry becoming globally competitive,' Haroon Akhtar said and added,'Our upcoming EV policy will provide a comprehensive framework for infrastructure development, investment incentives, and policy facilitation.' He added that, in line with the prime minister's vision, special incentives will be offered to promote the adoption of electric vehicles in the country, supporting long-term industrial growth and environmental sustainability. Copyright Business Recorder, 2025
