The Punjab government has revealed a plan to address environmental concerns in the provincial metropolis by distributing 10,000 electric bikes among students from various educational institutions. The goal is to offer a sustainable and eco-friendly mode of transportation while encouraging the use of electric vehicles. The Bank of Punjab is collaborating with the government to introduce a financing scheme for students, enabling them to acquire electric bikes through easy installments with a minimal six percent interest rate over a two-year period.
In a meeting chaired by Provincial Minister for Planning and Development, Bilal Afzal, at the P&D Board, attendees, including Chairman P&D Board Iftikhar Ali Sahoo and other government officials, discussed various proposals. The transport department provided detailed eligibility criteria for students to avail electric bikes from manufacturers like Honda. Minister Bilal Afzal stressed that the e-bike supply program is a government pilot project aiming to capitalize on the market and promote electric bike usage.
Afzal instructed the committee to develop a rational and cost-effective financing model, submitting a comprehensive plan to the Chief Minister of Punjab and the cabinet for approval. He emphasized the need for a framework to approve student applications and called for continuous monitoring of the e-bike scheme for its success. The first phase involves allocating e-bikes to eligible students through a balloting scheme facilitated by the Bank of Punjab.
Chairman P&D Board Iftikhar Ali Sahoo directed relevant departments to collaborate on the program’s development, focusing on major cities like Lahore, Rawalpindi, Multan, and Faisalabad for the initial distribution of e-bikes to both male and female students.
