22 companies issued licenses to manufacture electric bikes

ISLAMABAD: Ministry of Industries and Production (MOIP) on Wednesday told the federal cabinet meeting that at least 22 companies had been issued licenses to manufacture electric bikes, ARY News reported.

In a federal cabinet meeting chaired by Prime Minister Shehbaz Sharif, MOIP informed the cabinet members that 22 companies had been issued licenses to manufacture electric bikes in Pakistan.

MOIP further informed the cabinet members that the use of electric bikes will not only save fuel but will also prove eco-friendly by reducing carbon emissions.

PM instructed to submit a detailed plan regarding electric bikes to the Economic Coordination Committee (ECC).

It was also highlighted in the briefing that currently 90 companies are manufacturing motorcycles and auto-rickshaws in the country with a capacity to manufacture 6 million motorcycles annually.

Addressing the meeting, PM directed to set up a committee to work on reducing electricity consumption in government offices by 30 percent.

In other details, the Federal Cabinet approved the principle of the One Stop Service Act to provide facilities to investors in Special Economic Zones established across the country.

Meanwhile, on the recommendation of the Petroleum Division, the Federal Cabinet declared Taj Field (Mirpur Khas Block) for commercial status, covering an area of 14.11 square kilometers on a commercial basis and to M/s United Energy Pakistan Limited (UEPL) of this block for five years.

The federal cabinet approved the decisions taken in the meetings of the ECC held on 21.12.2022 and 15.11.2022 also the federal cabinet approved the decisions taken in the meeting of the Cabinet Committee on Privatization held on 26.12.2022.