On October 8, a high-ranking official from the Pakistani government announced that, as a result of skyrocketing oil prices, consumer interest in buying gasoline-fueled vehicles has waned, and Pakistan is now poised to reach its electric vehicle (EV) adoption targets earlier than initially planned. According to the policy unveiled last year, the government aims for EVs to constitute 30% of all new car sales by 2030. Haroon Akhtar, who serves as the Advisor to the Prime Minister of Pakistan on Industrial and Production Affairs, pointed out that the ongoing conflict in the Middle East has driven up fuel expenses, thereby reducing the time it takes for consumers to offset the higher initial purchase costs of EVs. "I am confident that the objectives outlined in last year's EV policy will be met ahead of schedule," he remarked. "With oil prices on the rise, the payback period for EVs has been cut down to just one to one and a half years. As a result, people are starting to appreciate the advantages of EVs, which eliminate the need for gasoline payments."
