Tag: e-bikes

  • Over 100,000 students register for interest-free motorcycle initiative

    Over 100,000 students register for interest-free motorcycle initiative

    The Punjab government has announced a significant initiative to offer interest-free motorcycles to students, with over 100,000 registrations received through the Punjab Information Technology Board (PITB) e-bike portal.

    This scheme aims to provide 20,000 motorcycles to students in Punjab, allowing them easier and more affordable transportation options.

    According to the PITB on Tuesday, the e-Bikes Portal has facilitated students across Punjab to register for the initiative, with more than 16,000 online applications already submitted.

    Out of these, over 13,500 students have applied for petrol bikes, while more than 3,800 have opted for e-bikes.

    The portal remains open for further applications, encouraging students to take advantage of this unique opportunity.

    The initiative offers a flexible down payment and monthly instalment plan, with the government covering the markup on both.

    This arrangement allows students to manage the cost of their motorcycles over time without the burden of interest, making it a more accessible option for those who rely on personal transportation for their education.

    Eligible applicants must be regular students of government or private graduate colleges or universities, aged 18 or older, and possess a valid driving license or learner permit.

    In the initial phase, the distribution of e-bikes will focus on the cities of Lahore, Multan, Faisalabad, Bahawalpur, and Rawalpindi. Petrol bikes will be distributed across other districts of Punjab.

    The deadline for applications is April 29, and interested students can register through the e-Bikes Portal [bikes.punjab.gov.pk].

    PITB Chairman Faisal Yousaf highlighted the transparency of the system, emphasizing that the initiative aligns with the broader goal of facilitating education across Punjab.

    He stated that the program’s aim is to make it easier for students to access motorcycles, enhancing their mobility and supporting their educational journey.

  • ECC approves interest-free loan scheme for electric bikes and rickshaws to empower youth

    ECC approves interest-free loan scheme for electric bikes and rickshaws to empower youth

    On Thursday, the Economic Coordination Committee (ECC) of the cabinet approved a loan scheme with 0 per cent markup for environment-friendly electric bikes (e-bikes) and electric rickshaws (e-rikshaws) in a bid to facilitate youth and promote self-sufficiency.

    The approval was given during a meeting chaired by Finance Minister Senator Ishaq Dar, where various financial proposals of ministries and divisions, including the loan scheme, were approved.

    The Ministry of Industries and Production submitted a summary on the financing facility for e-bikes and e-rikshaws, presenting details on viability, demand, and incentives to make them affordable. In order to create a sustainable demand for these vehicles, the ECC approved the Prime Minister’s Youth Business & Agriculture Loan Scheme (PMYB&ALS) model for two and three-wheelers.

    Under this scheme, interest-free loans worth Rs0.5 million will be provided to youth for a period of three years. The Ministry of Industries and Production will work out the modalities of the scheme in coordination with PMYB&ALS.

    During the meeting, the Ministry of National Food Security and Research tabled a summary on the price of sugar during the month of Ramadan and briefed the attendees on the outcome of the Sugar Advisory Board’s meeting with the Pakistan Sugar Mills Association (PSMA) regarding the retail price of sugar.

    The ECC endorsed the decision that PSMA Punjab Zone will provide 20,000 metric tonnes of sugar at a retail price of Rs95 per kg during the holy month of Ramadan for sale to the general public through the government of Punjab at the district level. The ECC also directed to make similar arrangements with other provincial PSMA for the provision of sugar in other provinces/areas.