Pakistan Seeks Swedish Green Fund’s Support for EV Conversion and Renewable Energy Initiatives
Islamabad: Federal Minister for Power, Awais Ahmed Khan Leghari, has invited the Sweden Green Fund to assist in the conversion of small vehicles in Pakistan, particularly motorcycles, to electric vehicles (EVs). This initiative, aimed at supporting Pakistan’s efforts to transition towards sustainable energy, includes both technical and financial assistance.
The proposal was discussed during a meeting between the Minister and Swedish Ambassador to Pakistan, Alexandra Berg Von Linde, on Thursday. The Minister explained that there are currently over 30 million motorcycles in Pakistan, many of which could benefit from the conversion to electric technology. He suggested that the Swedish and EU Green Fund consider providing interest-free loans to support this initiative, through Pakistani banks, which have a robust lending system in place.
Leghari also highlighted Pakistan’s commitment to renewable energy. Last year, 55% of the country’s power generation came from renewable sources, underscoring Pakistan’s efforts to reduce its reliance on fossil fuels. He mentioned that the Power Division is working on policies to promote affordable and sustainable electricity for consumers, with a focus on integrating renewable energy into the national grid through the Indicative Generation Capacity Expansion Plan (IGCEP).
In response, Ambassador Alexandra Berg Von Linde emphasized the strong bilateral ties between Pakistan and Sweden, marking the 75th anniversary of diplomatic relations between the two countries last year. She pointed out that Swedish companies in Pakistan are particularly interested in securing a reliable green energy supply. The Ambassador also highlighted Sweden’s leadership in renewable energy, where 70% of its energy is derived from renewable sources, showcasing the harmony between economic development and green energy. She also noted Sweden’s interest in supporting Pakistan’s textile sector to enhance its competitiveness through renewable and sustainable energy.
