Govt Launches 100,000 Electric Bikes Scheme with Easy Loans

The government of Pakistan is planning to launch a scheme that will provide 100,000 electric bikes to people on easy loans. This move aims to help young people, students, and low-income individuals who need affordable transportation.

According to official reports, the scheme will make electric bikes available at a low cost. A person who wants to buy an e-bike priced at around Rs170,000 will only need to pay Rs10,000 as a down payment. The government will cover Rs90,000 as a subsidy, and the remaining Rs70,000 will be given through a bank loan.

This bank loan will have a low-interest rate and can be paid in 24 monthly installments. People will need to pay about Rs4,310 per month, which includes the principal amount, interest, and insurance. The goal is to make eco-friendly transport easier to access without putting financial pressure on the buyers.

This scheme was recently approved by the Economic Coordination Committee (ECC). The committee has agreed to give a total subsidy of Rs17.5 billion over the next three years. The plan is to produce and distribute 100,000 electric bikes in the first 18 months.

Apart from the federal government, the Punjab government is also starting its own version of this program. Under Phase 2 of the Punjab E-Bike Scheme, they aim to distribute 100,000 electric bikes to college and university students. These students will receive interest-free loans and the bikes will be distributed through online registration and a balloting system.

This special scheme in Punjab is only for electric bikes and will help reduce pollution and traffic problems, especially in urban areas. Students will not have to pay any interest, and the bikes will be given out in a fair and transparent way.

The Prime Minister’s Youth Programme is also supporting this initiative. They will offer interest-free loans of up to Rs500,000 to help people buy electric vehicles, including e-bikes and e-rickshaws. At first, around 15,000 vehicles will be given under this program. The number will go up to 60,000 in 2023-24 and 100,000 in 2024-25.

The government believes that these schemes will make green transport more common in Pakistan. It will also help reduce fuel imports, save money, and support the local electric vehicle industry. In the future, they might allow the import of EV parts at lower taxes to help local manufacturers.

Experts say that the idea is good, but its success depends on how well it is managed. There should be clear rules, transparent balloting, and fast delivery of bikes. People are also worried that only a small number of applicants will be selected in the beginning, which might cause disappointment.

Still, many believe this is a step in the right direction. It supports clean energy, youth empowerment, and economic growth. If implemented properly, the e-bike scheme could change how millions of people travel across the country.

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