Pakistan says soaring oil prices may accelerate the achievement of electric vehicle targets
智通财经2026/10/08 06:11A senior Pakistani government official stated that, as oil prices soar and the appeal of gasoline-powered vehicles drops, Pakistan is expected to achieve its electric vehicle adoption targets ahead of schedule. According to policies announced last year, the government's goal is for electric vehicles to account for 30% of new car sales by 2030. Haroon Akhtar, Advisor to the Prime Minister on Industry and Production, said the rise in fuel costs since the Middle Eastern conflict has shortened the time required for consumers to recoup the higher upfront costs of electric vehicles. He stated: "I believe the goals set in our electric vehicle policy last year will be achieved sooner, as the surge in oil prices has reduced the payback period for electric vehicles to one to one and a half years. People are starting to realize the benefits now, namely that they no longer have to pay for gasoline."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Finland’s trade deficit in August reached 1.145 billion euros.
Finland recorded a trade deficit of 1.145 billions euros in August.
Google (GOOGL.US)-backed AI pharmaceutical company Isomorphic Labs starts a new round of fundraising: received $2.1 billions just five months ago, this round aims for a $50 billions valuation.
According to sources cited by Zhitong Finance APP, Isomorphic Labs, an AI drug development startup spun out from Google DeepMind, a subsidiary of Alphabet (GOOGL.US), is in preliminary talks for a new round of financing with a target valuation of at least $40 billion.
Bank of Japan branch manager: Price pressures are spreading from businesses to consumers, with over 80% probability of a rate hike in December
(1) A branch manager of the Bank of Japan stated on Thursday that cost-push price increases in Japan are spreading from inter-company transactions to consumer-facing sectors, indicating that nationwide inflationary pressures are expanding. (2) According to a statement from the Bank of Japan, fueled by Middle East conflicts and a weaker yen, energy and raw material costs are rising, and transport and labor costs are also increasing. Many companies are raising B2B business prices to pass on higher costs. (3) The central bank noted that these cost pass-through practices are expanding to consumer-facing businesses. More companies are raising retail prices to reflect input costs, while also assessing consumer confidence. However, as consumers remain price-sensitive, some companies are striving to limit price increases and are expanding their line of low-priced goods. (4) In its quarterly regional economic report also released Thursday, the Bank of Japan upgraded its assessment for two of the country's nine regions, while maintaining its view for the other seven. The central bank noted that while there are some weak spots in local economies, recovery is underway. (5) After raising policy rates to 1.25% last month, the Bank of Japan is expected to hike rates again soon to address persistent inflation. The overnight index swap market currently puts the probability of a rate hike by the Bank of Japan in December at over 80%. (6) Earlier this week, Bank of Japan Governor Kazuo Ueda pointed out that there is a risk that underlying inflation could exceed the bank's 2% target, and reiterated the intention to continue tightening monetary policy. The policy board is scheduled to hold its next meeting from October 29 to 30.
Japan plans to subsidize small and micro farmers affected by the reduction in food consumption tax, with an estimated requirement of about 200 billion yen.
(1) According to Kyodo News, several informed sources revealed that the Japanese government is coordinating to study a plan to provide subsidies equivalent to 5.4% of tax-exclusive sales to small and medium-sized farmers who will face decreased income due to the reduction of the consumption tax rate on food and beverages from 8% to 1% starting April 2027. (2) The aim is to compensate for income loss according to business scale and thus prevent farmers from abandoning agriculture. (3) The policy will cover about 800,000 farmers nationwide, and those working in forestry and fisheries will also receive subsidies. (4) The required funding is expected to be approximately 200 billion yen, which will be included in the initial budget for fiscal year 2027. (5) This will further increase the fiscal burden, adding to the annual 5 trillion yen tax revenue shortfall caused by the consumption tax cut, and will further intensify fiscal pressure.
Crypto prices
More
