Step Towards EV: The Punjab Cabinet approved rules for electric vehicles and raised the cost of diesel and petrol
On Friday, Punjab's Chief Minister Bhagwant Mann approved the new policy for industrial and electric vehicles under the guidance of the Punjab Cabinet. The policy includes infrastructure, energy, and micro, small, and medium-sized enterprises as priority areas.
The agreement on the two policies comes just days ahead of the state government's investor summit going to be held on February 23-24 in Punjab. A spokesman for the Punjab Cabinet Office confirmed this, saying the council approved a small increase in value-added tax (VAT) on domestic sales of fuel.
As per the officials of the cabinet, the cabinet also approved the Punjab Electric Vehicle Policy (PEVP) 2022 to review the state's environmental pollution caused by vehicle emissions. At the same time, the new Business and Commercial Development Policy for 2022 is in effect from 17 October onwards when the period of the previous policy expires, and the new policy will be valid for the next couple of years.
The new industrial policy listed Punjab as the most popular hub in terms of investment, Housing, and Urban Development Minister Aman Arora said in an official statement. On EV policy, Arora said EVs are the future and the government has been encouraging people to switch to EVs. He also said that the state also planning to install large charging stations.
He also said in his statement that the cabinet also agreed to include public mining sites to provide sand and gravel to the masses at a fair price. He said the first 18 stations will be installed in seven districts, one of which will be opened by the Punjab CM on 5th February. As per his statement, 50 stations across the state should be operational by the end of March. It also facilitates supply and makes the sand more accessible to the public.
EV policy aim
The EV policy hopes to eliminate traditional vehicles' harmful polluting agents, infrastructure development, production, research and development, employment, and sustainability and make Punjab a priority for EV, component, and battery manufacturing.
The new EV policy covers infrastructural development, energy management, MSMEs, big industries, startups, development and skill advancement, financial and non-financial incentives, business initiatives, export promotion logistics, complaint management, and engagement of the resources involved. This policy covers vehicles or auto parts, including electric vehicles, sporting goods, fitness equipment, hand tools, power tools and machine tools, agricultural tools and equipment, paper packaging equipment, including shredders, and equipment, including closed-loop economic activity, production, and products are included in incentive categories to increase financial incentives.
The new policy launched by Punjab Cabinet for industries aims to create the conditions for companies and enterprises to bring economic development, employment generation, and overall development of the country.
In line with the infrastructural development, the cabinet decided to develop 15 industrial parks across the state that meet the general and specific requirements of various industry sectors and 20 rural groups.
