Punjab’s Chief Minister, Maryam Nawaz, has given the green light to a scheme offering interest-free electric bikes to students on installment plans.
During a meeting held in Lahore, the provincial administration outlined a plan to provide over 20,000 electric and petrol motorbikes to citizens through interest-free loans.
In the meeting chaired by CM Maryam, along with former Prime Minister Nawaz Sharif, discussions centered on the enhancement of transportation facilities for students throughout the province. Key leaders of the PML-N also resolved to implement relief measures for students, including the introduction of hybrid bus services.
Under the e-bikes scheme, the PML-N government aims to distribute 19,000 petrol bikes and 1,000 e-bikes to students without imposing interest on monthly installments. These two-wheelers will be made available to students through a partnership with the Bank of Punjab (BOP). The monthly installment for petrol bikes is set at Rs5000, while for e-bikes, it stands at Rs10,000.
The government plans to conduct a draw in May of this year, with bike deliveries commencing in the same month. In terms of distribution, the quota will be divided evenly between male and female students in urban areas, while in rural areas, 70% of the quota will be allocated to male students and 30% to female students.
