Govt Produces 175,000 Electric Bikes in Pakistan

03 Jan 2023

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Govt Produces 175,000 Electric Bikes in Pakistan

The Ministry of Industries and Production makes plans to focus on the manufacturing of electric vehicles, especially electric bikes in Pakistan in order to reduce the usage of expensive fuel and protect the environment of the country. The ministry proposed lease offers, more production, and subsidized bank financing plans for the clients. It is worth mentioning that Govt Produces 175,000 Electric Bikes in Pakistan. It is expected that the ministry will produce and sell about 15,000 e-bikes during the current fiscal year, 60,000 in 2022-23, and 100,000 bikes in 2024-25.

Electric Bikes in Pakistan Leasing Plans

The government of Pakistan is planning to bear Rs.90,000 for a bike and it has an approximate price of Rs.170,000. According to the plan, the customers will have to pay the down payment of Rs.10,000 and the total amount will reach Rs.100,000 the bank will provide the commercial lean to the customers having the amount of Rs.70,000 and it will charge the interest rate of Kibro+2.

The industry proposed the installment plan covering 24 months and the consumer will pay the amount of Rs.4,310/ month, which is added to the principal amount of Rs.2,917, interest payment of Rs.1,109 and it is added with an insurance payment of 2% of the amount of Rs.284.

• Government will provide the bikes with the subsidy to:

• Students with salaried parents

• Female students or employees (20% quota)

• Transgender having quota of 1%

• Government employees

• Private sector salaried/self-employed persons with NTN and bank account

• Government and armed forces pensioners

• Imam masjid / Hafiz-e-Quran and Muazzan, who are endorsed by the Ministry of Religious Affairs

Local E-Bike Promotion

The ministry has proposed arrangements for charging the bikes at home or in the office with personal chargers to promote locally assembled and manufactured e-bikes and their spare parts including lithium-ion and swappable batteries. It was also proposed that this task may be assigned to Pakistan State Oil to install EV chargers in the selected outlets in various cities. It is expected that this scheme will be launched as the Pilot Project for 2022-23 in Peshawar, Karachi, Lahore, Islamabad, and Quetta.

What is your thought about this scheme regarding electric bikes in Pakistan? Please share your thoughts in the comment box.

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