Punjab Announces Electric Bike Scheme Launch Date and Installment Plans
- Electric bike scheme has been initiated.
- Bikes will be offered to the public via interest-free loans.
- More than 20,000 bikes will be provided.
The Punjab officials have been granted approval by Chief Minister Maryam Nawaz Sharif to initiate the installment-based electric bikes program for students.
A plan was formulated in a meeting held in Lahore, where the provincial administration decided to provide more than 20,000 electric and petrol motorbikes to the public via interest-free loans.
The meeting, which was also attended by former Prime Minister Nawaz Sharif, focused on improving the transportation facilities for students throughout the province.
The possibility of introducing hybrid bus services for students was also discussed during the meeting.
Total Number of Bikes
The provincial government plans to distribute a total of 20,000 bikes to students, which includes 1,000 e-bikes and 19,000 petrol bikes. It’s worth noting that students will not be required to pay any interest on their monthly installments.
Monthly Installment
The Punjab government has collaborated with the Bank of Punjab (BOP) for the bike distribution. The monthly installments for e-bikes and petrol bikes have been fixed at Rs. 10,000 and Rs. 5,000, respectively.
Delivery of Bikes
The provincial government, under the leadership of the Pakistan Muslim League Nawaz (PML-N), has planned a draw in May this year to maintain transparency in the scheme.
Quota
In urban regions, the quota will be equally divided, with 50% allocated for male students and 50% for female students. However, in rural areas, the quota will be split as 70% for male students and 30% for female students.
