IMF endorses Rs 100 bln subsidy for electric vehicles

The IMF has endorsed the government’s policy of Rs 100 billion subsidy for promotion of electric vehicles from 2025–30, sources said. The new electric vehicle policy for five years, aiming to reduce carbon emissions, cut fuel imports, and promote local manufacturing of electric vehicles (EVs). To promote EVs’ adoption, the government has allocated Rs nine billion in subsidies for the fiscal year 2025–26.