Business
EVs face grid, land, trust deficits | The Express Tribune
KARACHI:
Pakistan’s EV push has gained momentum as two firms announced plans to install 500 charging stations nationwide within two years, underscoring both ambition and structural challenges. The move comes amid energy constraints, but the rapid rise of rooftop solar offers a viable pathway to integrate EV infrastructure into a more resilient energy ecosystem.
At present, Pakistan has an estimated 30 to 50 public EV charging stations, a figure that pales in comparison to the government’s target of 3,000 stations by 2030 under the National Electric Vehicle Policy 20252030. Bridging this gap, industry experts say, is not simply a matter of scaling numbers but addressing deep-rooted issues in power infrastructure, land access, and consumer confidence.
“The gap between 50 and 3,000 stations isn’t just a numbers problem, it’s a grid problem, a land problem, and a trust problem,” said Talha Khan, CEO of ORKO. He noted that fast-charging stations require a reliable three-phase electricity supply, which is often unavailable in areas where demand for EV infrastructure is expected to grow.
According to Khan, public-private partnerships (PPPs) offer the only viable pathway to scale. In such a model, the government would facilitate right-of-way access, streamline coordination with power utilities, and ensure policy continuity, while private firms bring in technology, capital, and operational expertise.
The newly announced collaboration between Solcraft, a renewable energy solutions provider, and ORKO, an AI-powered EV and fleet management platform, aims to address these gaps. The partnership will combine Solcraft’s infrastructure deployment capabilities with ORKO’s software-driven platform to offer integrated solutions spanning EV charging, fleet automation, and real-time fuel analytics.
The companies plan to install 500 chargers over a two-year period, focusing on both urban centres and key intercity corridors. The initiative is expected to serve a wide client base, including oil marketing companies (OMCs), logistics operators, automotive manufacturers, and public-sector entities.
Industry stakeholders view the partnership as timely, given the policy push to electrify transport and digitise the oil and gas supply chain. The EV policy targets 30% EV penetration in new vehicle sales by 2030, with a particular focus on two- and three-wheelers, which dominate Pakistan’s transport mix.
However, experts caution that financial incentives alone will not be sufficient to drive adoption.
“Subsidies lower the entry price, but they don’t fix range anxiety, charging access, or consumer trust,” said Zeeshan Ansari, CEO of Solcraft. “The missing piece is infrastructure confidence. A buyer will choose an EV when they know a working charger is within reach, not just on a government map.”
He emphasised the need for mandatory EV charging provisions in commercial real estate, conversion targets for fuel stations, and adoption of interoperable charging standards such as Open Charge Point Protocol (OCPP), ensuring compatibility across networks and vendors. Pakistan’s rapid expansion in rooftop solar installations, driven by high grid tariffs and frequent outages, presents another critical lever for the EV transition. Analysts argue that decentralised energy generation could help bypass grid constraints and improve the reliability of charging networks.
“Pakistan is generating solar power on rooftops faster than it can build grid infrastructure; that’s actually an opportunity hiding inside a crisis,” said Wahab Hussain Khan, COO of Solcraft. He added that integrating solar with EV charging creates a “micro-energy ecosystem” where vehicles can be charged during peak generation hours, reducing reliance on diesel generators and improving uptime.
Such solar-integrated charging solutions are particularly relevant in regions where grid reliability falls below 80%, making them not just environmentally sustainable but commercially viable for operators.
Beyond passenger vehicles, the electrification of commercial fleets is emerging as a high-impact opportunity. With predictable daily mileage and centralised operations, logistics and delivery fleets offer a clearer business case compared to individual consumers.
“Commercial fleets are the highest-leverage bet in Pakistan’s EV transition,” Khan said, adding that total cost of ownership (TCO) remains poorly understood among fleet operators. “They are still comparing sticker prices, not fuel savings over five years.”
According to ORKO’s internal data, fleet operators switching to EVs can recover their initial investment within 12 to 18 months, provided they have access to financing, maintenance networks, and performance data through telematics systems.
Looking ahead to 2030, industry leaders argue that Pakistan must focus on a few achievable but critical milestones to ensure EV adoption reaches scale. These include building at least 500 interoperable fast-charging points along major transport corridors, establishing domestic battery assembly capacity, and ensuring that EVs become cost-competitive with internal combustion engine (ICE) vehicles within a three-year ownership horizon, without reliance on subsidies.
Business
US consumer price inflation hits 3.8% in April, highest in nearly 3 years as Iran war fuels energy costs – The Times of India
US inflation rose in April to 3.8 per cent as surging fuel costs amid the ongoing Iran-US conflict drove up consumer prices, hitting a three-year high complicating the Federal Reserve’s path on interest rates.Data released by the Labor Department on Tuesday showed the Consumer Price Index (CPI) increased 0.6 per cent in April after a 0.9 per cent jump in March, the biggest monthly rise since June 2022. On an annual basis, inflation accelerated to 3.8 per cent, marking the highest year-on-year increase, since May 2023.Petrol prices in the US are now more than 28 per cent higher than a year ago, according to official data. AAA estimates show average gasoline prices have crossed $4.50 per gallon, roughly 44 per cent above year-ago levels, squeezing household budgets and raising concerns about broader economic fallout.The spike in energy prices follows the escalation of hostilities between the US, Israel and Iran earlier this year. Markets were rattled after Tehran blocked access through the Strait of Hormuz — a critical global energy route that handles nearly one-fifth of the world’s oil and liquefied natural gas supplies.Core inflation, which excludes food and energy prices, remained relatively contained. Core CPI rose 0.4 per cent month-on-month and 2.8 per cent annually, suggesting that higher fuel costs have not yet fully spread across the wider economy.Food prices also edged higher in April. Grocery costs rose 0.7 per cent from March, led by increases in meat prices after a slight decline in the previous month.The latest inflation reading adds to uncertainty for the Federal Reserve, which had earlier been expected to begin cutting interest rates in 2026. Policymakers are now signalling caution amid fears that prolonged geopolitical tensions and elevated oil prices could trigger another wave of inflation.US President Donald Trump has repeatedly criticised the Fed for not lowering borrowing costs faster to support economic growth. Attention is now turning to Kevin Warsh, Trump’s nominee to succeed outgoing Federal Reserve Chair Jerome Powell, whose Senate confirmation is expected this week.Higher fuel costs are also beginning to weigh on corporate America. Appliance maker Whirlpool Corporation said last week that quarterly revenue fell nearly 10 per cent, warning that the war-driven economic slowdown had severely dented consumer confidence.
Business
EBay rejects £41.4 billion GameStop takeover offer
EBay has turned down a 56 billion US dollar (£41.4 billion) takeover move from GameStop, labelling the proposal as “neither credible or attractive”.
GameStop boss Ryan Cohen launched an unsolicited offer of 125 dollars (£92.40) per share – half in cash and half in GameStop stock – to eBay shareholders last week.
However, the online marketplace’s board confirmed on Tuesday that it had now rejected the move.
In a letter, eBay chairman Paul Pressler said it reviewed the offer but believes that eBay is a “strong, resilient business”.
He added: “We have sharpened our strategic focus, strengthened execution, enhanced our marketplace and seller experience, and consistently returned capital to shareholders.
“With its differentiated global marketplace and a clear strategy, eBay’s board is confident that the company, under its current management team, is well-positioned to continue to drive sustainable growth, execute with discipline, and deliver long-term value for our shareholders.”
GameStop, which runs around 1,600 shops around the US, said it started accumulating eBay shares earlier this year and currently has a 5% stake.
Mr Cohen had previously indicated he would take his proposal directly to eBay shareholders if the company’s board rejected the deal.
Business
India’s retail inflation jumps to over one-year high at 3.48 per cent in April – The Times of India
India’s retail inflation rose to a more than one-year high of 3.48 per cent in April from 3.40 per cent in March, driven mainly by higher food prices, according to data released by ministry of statistics & programme implementation on Monday. Food inflation, measured by the Consumer Food Price Index (CFPI), also accelerated to 4.20 per cent in April from 3.87 per cent last month, indicating broader price pressures across household essentials. Meanwhile, inflation in rural areas stood at 3.74 per cent, higher than the 3.16 per cent recorded in urban India.Among key items, silver jewellery recorded the sharpest inflation at 144.34 per cent in April, though slightly lower than 148.42 per cent in March. Gold, diamond and platinum jewellery inflation also remained elevated at 40.72 per cent. Among key food items, tomato prices surged 35.28 per cent year-on-year in April, while potato and onion prices remained in deflation at minus 23.69 per cent and minus 17.67 per cent, respectively. The personal care and miscellaneous goods category recorded the sharpest inflation at 17.66 per cent, while transport inflation remained largely flat at minus 0.01 per cent. India’s retail inflation has now risen for the second consecutive month, inching closer to the Reserve Bank of India’s 4 per cent medium-term target. The RBI last month projected CPI inflation for 2026-27 at 4.6 per cent and warned that elevated global energy prices due to the Middle East conflict, along with possible El Niño conditions affecting the monsoon, could pose upside risks to inflation.
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