Govt announces 40,000 subsidised e-bikes for general public

ISLAMABAD: The federal government on Wednesday announced to provide 40,000 e-bikes to the general public at subsidised prices.

The announcement was made by Minister for Industries and Production Rana Tanveer Hussain while addressing a news conference in Islamabad.

The minister said that enormous incentives are being given to foreign investors for the establishment of electric vehicles’ plants in the country.

Rana Tanveer Hussain said that the introduction of electric vehicles will not only help reduce pollution but will also significantly lower the country’s oil import bill.

The minister said that a subsidy worth Rs 4 billion rupees has been allocated for the promotion of electric two-wheelers and three-wheelers.

He said banks will offer soft loans to facilitate the public’s transition to electric vehicles.

“Under the subsidy plan, the government will provide 40,000 electric motorcycles to the general public, out of which, 120 electric motorcycles will be distributed free of charge to the country’s top-performing students as part of a special initiative to reward academic excellence,” he added.

Rana Tanveer Hussain said that about 3,000 charging station will be established across the country for the charging of electric vehicles.

Earlier in the day, the Punjab government has increased the number of e-bikes allocation under the Chief Minister Youth Initiative

According to a spokesperson for the Punjab Transport Department, the number of bikes has increased from 20,000 to 27,200.

Under the directives of Chief Minister Maryam Nawaz, orphaned students are being provided bikes free of cost. Additionally, all female students who applied for electric bikes will receive their two-wheelers, the spokesperson confirmed.

The Bank of Punjab has approved loans for 20,000 students for bike purchases. So far, 7,500 bikes have been distributed to students, with daily deliveries ongoing.