Oilboy Energy Limited plans to build a network of 70 fast-charging stations for electric vehicles across Pakistan. The company will raise Rs1 billion through a rights issue to fund most of the project.
The board approved the plan in June 2026. Oilboy will issue 100 million new shares at Rs10 each. This is a 200% rights issue, meaning existing shareholders get two new shares for every one they already hold. The total project cost is about Rs1.025 billion. The rights issue will cover nearly Rs1 billion, while the company will add around Rs25 million from its own funds.
Each charging site will cost roughly Rs14.65 million. Stations will have dual-nozzle DC fast chargers rated between 120 kW and 240 kW. These can charge two vehicles at the same time. A typical 40 kWh top-up should take 15 to 20 minutes. The network will cover major cities and highways.
Oilboy currently trades coal, LPG and petrochemicals. This project marks a shift into supplying electricity as a transport fuel. The company expects the stations to start commercial operations in the first quarter of 2027.
The move comes as Pakistan works to expand electric vehicle use and reduce fuel imports. Building reliable charging points is one of the key needs for that change. Oilboy aims to become an early player in this growing area before the number of electric cars and bikes rises further.
If successful, the network could make long-distance EV travel easier and support the country’s shift toward cleaner transport.