The government is rapidly implementing a subsidy program of PKR 80,000 per unit on 40,000 electric bikes.
Chief Executive Officer of the Engineering Development Board, Hammad Ali Mansoor, stated that under the Prime Minister’s PEV Scheme, the process of providing electric bikes, rickshaws, and loaders on easy installments, along with subsidy payments, has been initiated. The purpose of this initiative is to provide affordable and environmentally friendly transportation facilities to the public and reduce the country’s dependence on fuel.
Under this scheme, a subsidy of up to PKR 80,000 is being provided on electric bikes, which is being transferred directly to approved applicants’ bank accounts through the State Bank of Pakistan. In addition, electric bikes and rickshaws are being offered on easy installment plans through bank leasing.
Hammad Ali Mansoor further said that under the PEV scheme, the government will provide approximately PKR 9 billion in subsidies in the current fiscal year, while the target is to provide over PKR 100 billion in subsidies by 2030. In the first phase, subsidies are being provided to 41,000 beneficiaries, including 40,000 electric bikes and 1,000 electric rickshaws and loaders. The transfer of subsidy funds to approved applicants is progressing rapidly.
He added that the second phase of the scheme is about to begin, under which subsidies will be provided for more than 78,000 electric vehicles. Only those individuals who acquire electric bikes, rickshaws, or loaders through the approved procedure under the PEV scheme will be eligible for the subsidy.
Hammad Ali Mansoor also stated that students, youth, and women are being provided electric bikes on easy installments under this scheme. The initiative is expected to help reduce the fuel import bill, curb environmental pollution, and promote alternative energy sources.
The scheme aims to promote the use of electric vehicles in Pakistan, reduce environmental pollution, strengthen local industry, and develop a sustainable and eco-friendly transportation system.
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