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Punjab Announces Bike Scheme Launch Date and Payment Details

Officials in Punjab have finally received the green light from Chief Minister Maryam Nawaz Sharif for the launch of electric bikes for students in installments.

During a meeting in Lahore, the provincial administration devised a plan to offer over 20,000 electric and petrol motorbikes to citizens through interest-free loans.

The meeting was also attended by former Prime Minister Nawaz Sharif. The meeting discussed the up-gradation of transport facilities for students across the province.

The launch of hybrid bus services for students also came under discussion during the meeting.

Total Number of Bikes

The provincial government will provide a total of 20,000 bikes to the students, comprising 1,000 e-bikes and 19,000 petrol bikes. It is pertinent to mention that students will not be charged any interest on monthly installments.

Monthly Installment

The Punjab government has partnered with the Bank of Punjab (BOP) for the distribution of bikes. The monthly installment for e-bikes and petrol bikes has been set at Rs. 10,000 and Rs. 5,000, respectively.

Delivery of Bikes

The provincial government led by the Pakistan Muslim League Nawaz (PML-N) has decided to conduct a draw in May of this year to ensure transparency in the scheme.

Quota

In urban areas, the quota will be evenly split, with 50% reserved for male students and 50% for female students. In rural areas, 70% of the quota will be reserved for male students and 30% for female students.

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Published by
Arsalan Khattak