• PM’s 30pc target stalls as OMCs expand outlets without chargers
• Petrol demand stays robust on two-wheeler boom
KARACHI: The government is considering several options to reduce the fuel import bill, the latest being the upgrade of refineries at an estimated cost of $6 billion. Earlier efforts to reduce petrol imports by promoting compressed natural gas (CNG) in the automotive sector faltered due to gas shortages.
Prime Minister Shehbaz Sharif has called for a 30 per cent shift to electric vehicles within five years to save $4.5bn annually on fuel imports. The initiative, however, is moving slowly due to inadequate infrastructure and a lack of charging stations.
Meanwhile, oil marketing companies (OMCs) remain focused on expanding retail fuel outlets, with limited investment in EV charging facilities.
