Islamabad, July 3, 2025 – Special Assistant to the Prime Minister (SAPM) on Industries and Production, Haroon Akhtar Khan, has directed all insurance companies to submit detailed insurance rate proposals for electric motorcycles, rickshaws, and cars by the upcoming Tuesday.
The directive was issued during a high-level meeting on the Electric Vehicle (EV) Financing Scheme chaired by the SAPM. The meeting focused on finalizing affordable and secure insurance options to support the growing shift toward electric transportation in Pakistan.
Haroon Akhtar emphasized that insurance companies must present realistic and economical insurance plans for different categories of electric vehicles. He assured that only the most competitive and beneficial insurance rates would be approved to protect public interest and encourage wider EV adoption.
In line with Prime Minister Shehbaz Sharif’s vision for a greener Pakistan, the SAPM reiterated the government’s commitment to implementing the National Electric Vehicle Policy. He highlighted that electric vehicles are crucial for reducing the country’s environmental pollution and reliance on fossil fuels.
The discussion also addressed various challenges facing the EV sector, including insurance cost structures, risks associated with battery theft, and the implementation of anti-theft mechanisms. Representatives from multiple insurance companies as well as EV manufacturing firms participated actively in the meeting.
The manufacturers briefed the forum on technological advancements in the EV industry, particularly related to safety and theft deterrence. Key features such as advanced GPS tracking, smart locking systems, and reinforced battery compartments were presented as effective deterrents against theft.
According to the manufacturers, lithium-ion batteries remain the safest option for Pakistan’s climate and are both durable and environmentally friendly. They added that new innovations have drastically minimized the risks that previously made insuring electric vehicles a challenge for insurance companies.
The SAPM urged all insurance companies to align their policies with emerging EV technologies and offer tailored products that support green mobility. With insurance companies playing a central role in the success of the EV ecosystem, timely submission of well-calculated proposals is expected to pave the way for a nationwide rollout of affordable electric vehicle insurance.