KARACHI: Pakistan’s economy is expected to grow by 1.9 percent in the current fiscal year, the Asian Development Bank (ADB) said in its latest economic outlook report on Thursday, warning inflation would remain elevated at about 25 percent during the same period before easing a bit in the next financial year.
Pakistan has faced significant economic challenges in recent years, grappling with high inflation, fiscal deficits and external debt pressures.
Last year, the country secured a $3 billion short-term loan from the International Monetary Fund (IMF) in a bid to stabilize its economy, with the final tranche anticipated for release in the coming days. Amid the ongoing economic difficulties, the Pakistani government is seeking a more extended bailout program from the IMF, though the specifics of the arrangement are still being negotiated.
The ADB report suggested Pakistan could find itself on a better footing to deal with the financial challenges if it continued to implement structural economic reforms diligently.
“Growth is projected to remain subdued in FY2024‚ and pick up in FY2025, provided economic reforms take effect,” it said. “Real GDP [Gross Domestic Product] is projected to grow by 1.9 percent in FY2024‚ driven by a rebound in private sector investment linked to progress on reform measures and transition to a new and more stable government.”
The ADB said growth was projected to reach 2.8 percent in the next fiscal year, driven by higher confidence, reduced macroeconomic imbalances, adequate progress on structural reforms, greater political stability, and improved external conditions to support recovery in industrial output in the latter half of the year.
“Inflation will remain elevated at about 25.0 percent in FY2024‚ driven by higher energy prices but is expected to ease in FY2025,” it continued. “While improvement in food supplies and moderation of inflation expectations will likely ease inflationary pressures, further increases in energy prices envisaged under the IMF SBA [standby arrangement] are projected to keep inflation high.”
The report pointed out that headline consumer inflation increased to 28 percent in the first eight months of the current fiscal year‚ mainly due to the hikes in energy prices.
However, it added that core inflation was also elevated, reflecting domestic recovery and the pass-through of upward adjustments in energy prices.
The ADB also maintained the relaxation of import restrictions, coupled with economic recovery, was expected to widen the country’s current account deficit.
Additionally, it pointed out Pakistan had the lowest financial inclusion rates for women in the world while calling for gender-inclusive opportunities for smaller enterprises and further microfinance expansion.
“Expanding women’s financial inclusion requires strong will and a prioritized push for legal and regulatory change,” it added. “New rules must support gender-inclusive finance while easing persistent liquidity constraints in the sector.”
ADB forecasts 1.9% growth for Pakistan’s economy amid 25% inflation warning
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ADB forecasts 1.9% growth for Pakistan’s economy amid 25% inflation warning
- It predicts 2.8 percent growth next fiscal year amid reduced macroeconomic imbalances, continued structural reforms
- ABD says Pakistan has the lowest financial inclusion rates for women in the world, calls for gender-inclusive opportunities
Pakistan plans 3,000 EV charging stations as green mobility push gathers pace
- Roadmap unveiled by energy efficiency regulator and a private conglomerate amid early-stage EV rollout
- New EV Policy and related plans aim to install 3,000 EV stations by 2030, including 240 stations in current fiscal year
ISLAMABAD: Pakistan’s energy efficiency regulator and a private conglomerate have unveiled an approved roadmap to establish 3,000 electric vehicle (EV) charging stations across the country, state-run Associated Press of Pakistan (APP) reported on Tuesday.
The announcement comes as Pakistan looks to build out basic EV charging infrastructure, which remains limited and unevenly distributed, largely concentrated in major cities. Despite policy commitments to promote electric mobility as part of climate and energy-efficiency goals, the absence of a nationwide charging network has slowed broader EV adoption.
Pakistan’s EV ecosystem is still at a formative stage, with progress constrained by regulatory approvals, grid connectivity issues and coordination challenges among utilities, regulators and fuel retailers. Expanding charging infrastructure is widely seen as a prerequisite for scaling electric transport for both private and commercial use.
According to APP, the roadmap was presented during a meeting between Malik Group Chief Executive Officer Malik Khuda Baksh and National Energy Efficiency and Conservation Authority Managing Director and Additional Secretary Humayon Khan.
“Baksh ... in a meeting with Khan, unveiled the approved roadmap for establishing 3,000 electric vehicle charging stations across Pakistan,” APP reported. “Khan reaffirmed the authority’s full institutional backing and pledged to expand the initiative to 6,000 EV charging stations nationwide.”
The discussion reviewed hurdles delaying the rollout, including EV charger imports, customs duties, regulatory documentation and inter-agency coordination.
APP said Khan welcomed the proposal and sought recommendations for “internationally compliant EV charger brands,” while asking for a detailed “issue-and-solutions report within three days” to facilitate timely implementation of the national green mobility initiative.
Despite the issuance of 13 licenses by NEECA and the arrival of five EV charging units at designated sites, progress has been slowed by procedural bottlenecks, officials said. These include delays in electricity connections, prolonged installation of separate meters and pending no-objection certificates from power distribution companies and oil marketing firms, which continue to stall operational readiness.
Pakistan’s electric vehicle ecosystem is still in its early stages, with charging infrastructure far behind levels seen in more advanced markets. The government’s New Energy Vehicle Policy and related plans aim to install 3,000 EV charging stations by 2030, including 240 stations planned in the current fiscal year, but actual deployment remains limited and uneven, mostly clustered in major cities and along key urban corridors.
Despite regulatory backing, including the 2024 Electric Vehicles Charging Infrastructure and Battery Swapping Stations framework, progress has been slow. Many proposed stations have yet to become operational due to delays in grid connections and approvals, and public maps of nationwide charging coverage are not yet available.
Private players are beginning to install more chargers, and there are over 20 public EV charging points reported in urban centers, offering both slower AC chargers and faster DC options. However, such infrastructure is still sparse compared with the growing number of electric vehicles and the government’s long-term targets.
