Staff Report
ISLAMABAD:
Federal government has announced a major initiative to promote electric vehicles by offering 116,000 electric bikes on a two-year instalment plan. This move aims to reduce reliance on petrol and diesel vehicles, encouraging the use of eco-friendly alternatives and supporting sustainable transportation across the country.
Sources indicate that the subsidy and installment scheme for electric bikes is in its final stages of preparation. Prime Minister Shehbaz Sharif is expected to unveil the new electric vehicle (EV) policy on Independence Day.
The scheme is being developed with the collaboration of the State Bank and the Bank Association. It will offer a subsidy of PKR 50,000 for each electric bike and rickshaw. The scheme will be available to individuals aged 18 to 65 years.
The price of each electric bike is estimated to be around PKR 250,000, with the subsidy reducing the upfront cost. The remaining amount, over PKR 200,000, will be payable in installments.
