Prime Minister Shehbaz Sharif is set to launch the e-bikes scheme on easy installments on August 14, an initiative aimed at reducing fossil fuel pollution in the country.
Under the scheme, the government will distribute over 100,000 e-bikes through easy installment plans.
According to reports, the State Bank of Pakistan and the Pakistan Banks’ Association are jointly finalizing the details of the program.
Key Highlights
- A government subsidy of Rs. 50,000 will be provided for each electric bike and rickshaw.
- The eligible age range has been set from 18 to 65 years.
- The estimated price of an electric bike is Rs. 250,000.
- After applying the subsidy, the remaining amount will be payable in easy monthly installments.
To promote eco-friendly technologies and reduce dependence on fossil fuels, the government has set ambitious policy goals in the transport sector. Under this policy, the government aims to convert 30 percent of all vehicles in Pakistan to electric by 2030. The long-term objective is to reach 90 percent electrification by 2040.
Also read: Convert you bike into electric vehicle and win Rs100,000 cash reward
To support this goal, the government has committed Rs. 100 billion in subsidies over the next five years. For the current fiscal year, Rs. 9 billion has been allocated. The subsidy will increase gradually in the coming years — Rs. 19 billion in 2027, over Rs. 24 billion in 2028, and more than Rs. 26 billion in 2029.
This phased and integrated strategy aims to accelerate the growth of the electric vehicle industry, reduce environmental pollution, and lay the foundation for a sustainable economy.
