Kathmandu. Vice President Ram Sahay Prasad Yadav has said trade deficit in the country could be reduced by increasing the use of electric vehicles (EVs).

Stating that the NADA Auto Show has been adding new dimension every year, he stressed the need for adopting world class safety standard in the vehicles. He said that automobile sector is also an important area of revenue collection for the government.

Stating that a large amount of money is going abroad to buy diesel and petrol, he stressed the need of increasing the use of electric vehicles as an alternative to this. According to him, the increased use of EVs will reduce the cost of importing petroleum products, which in turn will help reduce the trade deficit in Nepal.

The use of EVs will also contribute to promotion of green and clean energy. For this, collaboration between the government and private sector is necessary to construct adequate charging stations across the country, he added.

He also stressed on the need to produce auto parts in the country as far as possible. He said that production of auto parts in the country would help in import substitution as well as in the development of industries and employment generation.

Vice President Yadav said that automobile sector could become more important for country’s economy if domestic production and infrastructure development along with the use of electric vehicles were prioritized.