Red electric motorbike isolated. Electric motorbike is charging, side view. Vector flat illustration.
Prime Minister has directed the Ministry of Industries and Production to submit a detailed plan regarding electric bikes (E-Bikes) to the Economic Coordination Committee (ECC), with the approximate price of an EV bike expected to be Rs. 170,000.
According to the details, the Ministry of Industries and Production on Wednesday briefed the federal Cabinet with regard to the generalization of the use of electric bikes (E-Bikes) across the country.
Sources told ProPakistani that the Ministry of Industries has informed three different subsidy models for the proposed EV Bike scheme.
The approximate price of an EV bike would be Rs. 170,000 including a down payment by the government, a down payment by the Customer, a loan by the commercial bank, and interest rates.
Sources said that the Government plans to subsidize 175,000 EV Bikes in the next three years with a subsidy amount of around Rs. 15 billion.
The Ministry has also proposed eligibility criteria in order to get subsidies on Electric bikes which include students with salaried parents as well as government or private sector salaried/self-employed individuals with NTN & Bank Accounts. In addition, there will be quotes of female students/employees as well as Transgender persons.
The government/Armed Forces pensioners and Imam Masjid/Hafiz Quran /Muazzam, duly qualified from institutes recognized by the government of Pakistan (endorsed by M/o Religious Affairs) are also eligible for electric bikes.
As per the handout of the PM office, the Ministry of Industries and Production has given a detailed briefing regarding the generalization of the use of electric bikes (E-Bikes) across the country. The cabinet was informed that petrol bikes will be replaced by electric bikes (E-Bikes) in phase wise manner.
Currently, 90 companies are manufacturing motorcycles and auto rickshaws in Pakistan and these companies have the capacity to manufacture 6 million motorcycles annually. The Federal government has also issued 22 licenses to companies to manufacture electric bikes (E-Bikes) in Pakistan.
The meeting was further informed that using electric bikes (E-Bikes) will not only save fuel, but these eco-friendly electric bikes (E-Bikes) will also reduce carbon emissions.