In a major step towards promoting clean energy, Prime Minister Shehbaz Sharif will inaugurate the e-bikes installment scheme on August 14. This initiative is designed to curb fossil fuel emissions and promote electric mobility across Pakistan.
Under this program, the government plans to distribute over 100,000 electric bikes on convenient installment plans. The State Bank of Pakistan (SBP) and Pakistan Banks’ Association (PBA) are working together to finalize the financial structure of the scheme.
Key Features of the Scheme:
- Rs. 50,000 government subsidy on each e-bike and electric rickshaw.
- Eligible age group: 18 to 65 years.
- Estimated price of an electric bike is Rs. 250,000.
- After subsidy, the remaining amount will be paid in affordable monthly installments.
The scheme aligns with Pakistan’s broader strategy to reduce reliance on fossil fuels. The government has set a target to convert 30% of vehicles to electric by 2030, aiming for 90% electrification by 2040.
To support this transition, the government has allocated Rs. 100 billion in subsidies over the next five years. For the current fiscal year, Rs. 9 billion has been earmarked, with the amount gradually increasing to Rs. 19 billion in 2027, Rs. 24 billion in 2028, and Rs. 26 billion in 2029.
This phased approach is expected to boost the local electric vehicle industry, reduce environmental pollution, and lay the groundwork for a sustainable, green economy.
