Electric vehicle shift lags amid infrastructure gaps
• PM’s 30pc target stalls as OMCs expand outlets without chargers • Petrol demand stays robust on two-wheeler boom KARACHI: The government is considering several options to reduce the fuel import bill, the latest being the upgrade of refineries at an estimated cost of $6 billion. Earlier efforts to reduce petrol imports by promoting compressed natural gas (CNG) in the automotive sector faltered due to gas shortages. Prime Minister Shehbaz Sharif has called for a 30 per cent shift to electric vehicles within five years to save $4.5bn annually on fuel imports. The initiative, however, is moving slowly due to inadequate infrastructure and a lack of charging stations. Meanwhile, oil marketing companies (OMCs) remain focused on expanding retail fuel outlets, with limited investment in EV charging facilities. Amid rising petrol and diesel prices following the Middle East crisis that began on Feb 28, consumers are gradually shifting to electrified vehicles, including hybrid electric vehicles (HEVs), range-extended electric vehicles (REEVs) and pure battery EVs. Financial statements of OMCs reflect continued retail expansion but little progress on charging infrastructure. Wafi Energy Pakis
• PM’s 30pc target stalls as OMCs expand outlets without chargers • Petrol demand stays robust on two-wheeler boom KARACHI: The government is considering several options to reduce the fuel import bill, the latest being the upgrade of refineries at an estimated cost of $6 billion. Earlier efforts to reduce petrol imports by promoting compressed natural gas (CNG) in the automotive sector faltered due to gas shortages. Prime Minister Shehbaz Sharif has called for a 30 per cent shift to electric vehicles within five years to save $4.5bn annually on fuel imports. The initiative, however, is moving slowly due to inadequate infrastructure and a lack of charging stations. Meanwhile, oil marketing companies (OMCs) remain focused on expanding retail fuel outlets, with limited investment in EV charging facilities. Amid rising petrol and diesel prices following the Middle East crisis that began on Feb 28, consumers are gradually shifting to electrified vehicles, including hybrid electric vehicles (HEVs), range-extended electric vehicles (REEVs) and pure battery EVs. Financial statements of OMCs reflect continued retail expansion but little progress on charging infrastructure. Wafi Energy Pakis
