Interest-free e-bikes for students; Check scheme launch date, monthly payments here
- By Web Desk -
- Mar 18, 2024
LAHORE: Punjab Chief Minister Maryam Nawaz on Monday okayed interest-free electric bikes for students on instalments.
While chairing a meeting in Lahore, the provincial administration chalked out plan to provide over 20,000 electric and petrol motorbikes for citizens on interest-free loan.
CM Maryam along with former prime minister Nawaz Sharif hold meeting about up-gradation of transport facilities for students across the province.
Read More: CM Maryam Nawaz announces metro bus project in these Punjab cities
Top PML-N leaders also decided to introduce relief measures for students including launch of hybrid bus services.
E-bikes scheme
The PML-N government has decided to provide 19,000 petrol and 1000 e-bikes to the students, without charging interest on monthly installments.
The two-wheelers will be distributed among students through partnership with Bank of Punjab BOP. The installment for petrol bikes will be Rs5000, and for e-bikes, the monthly payment will be Rs10000.
The government planned to conduct a draw in May this year, and bikes will be delivered starting in the same month.
The quota will be 50/50 percent reserved for male and female students, in urban areas. In rural areas, 70pc of the quota will be reserved for male students and 30 percent for female students.