Russian tech firm expresses interest to invest in Pakistan

ISLAMABAD: A Russian Technology firm on Wednesday expressed interest to invest in electric vehicle industry of Pakistan with the latest technology called Nano Tubes, ARY News reported.

According to a statement issued by the Press Information Department (PID), a delegation of Russian private company, led by Mr. Igor Kim, called on Federal Minister on Climate Change Malik Amin Aslam on Wednesday.

While talking to the minister, Mr. Igor Kim said that Nano Tube Technology was being used in all sorts of materials with scores of objectives from reinforcement to enhancing conductivity.

They said that their product was microscopic and was widely being used in electric batteries, construction materials, LED screen, solar panels, plastics, tires, conductors and clothes.

On the occasion, Malik Amin Aslam welcomed the offer and said that that electric vehicle policy was on cards and would be approved within a couple of weeks.

He said, “We want to make Pakistan hub for right-hand-drive electric vehicles all across the world. Proposed policy will offer tariff incentives in order to make EV prices at par with conventional vehicles.”

The minister said that their government was taking the issue of climate change very seriously and took several steps in that regard.

He said that the government had also planned an innovation district dedicated for electric vehicles and allied technologies.

Malik said, “Pakistan is a huge market for two and three wheelers and there is immense potential for investment.”  The Russian delegation appreciated initiatives of the present government and showed their keenness to work with Pakistani entrepreneurs.