Pakistan Seeks Swedish & EU Green Fund Support for Electric Vehicle Transition

Federal Minister for Power, Awais Ahmed Khan Leghari, has invited Sweden’s Green Fund and the EU Green Fund to provide technical and financial assistance for the conversion of small fossil fuel-powered vehicles into electric ones.

Pakistan’s Vision for Green Mobility

During a meeting with Swedish Ambassador to Pakistan, Alexandra Berg Von Linde, Leghari highlighted Pakistan’s recent record reduction in tariffs for electric vehicle (EV) charging stations and emphasized the potential of transitioning motorcycles to EV technology.

With over 30 million motorcycles in Pakistan, the minister suggested that interest-free loans could be provided through Pakistani banks to facilitate this transition. He noted that individuals in this income group have a strong record of repaying loans, making them suitable candidates for financing assistance.

Renewable Energy & Policy Reforms

Leghari also outlined Pakistan’s commitment to renewable energy, revealing that 55% of the country’s power generation in the past year came from renewable sources. He stressed that the government is revising its Indicative Generation Capacity Expansion Plan (IGCEP) to ensure a cost-effective and optimized integration of renewable energy into the national grid.

Sweden’s Support & Renewable Energy Leadership

Ambassador Alexandra Berg Von Linde reaffirmed Sweden’s commitment to strengthening bilateral ties, noting that 75 years of diplomatic relations between Pakistan and Sweden were celebrated last year.

She highlighted that Swedish companies in Pakistan are eager for a stable green energy supply and emphasized Sweden’s expertise in renewable energy, where 70% of electricity comes from renewable sources.

Additionally, Sweden aims to support Pakistan’s textile sector, a major exporter to the EU, in adopting sustainable energy practices to enhance its global competitiveness.

A Step Towards Green Economic Growth

The meeting reaffirmed Pakistan’s dedication to clean energy, sustainable mobility, and climate-friendly policies. With Swedish and EU backing, Pakistan’s transition to electric vehicles and renewable energy could gain substantial momentum, promoting economic and environmental benefits.