Islamabad: The central government has planned a project to produce 100,000 electric bikes in 18 months to save energy and help reduce carbon emissions.
According to the document, the Ministry of Industry and Manufacturing has planned a scheme to start producing at least 100,000 electric bicycles in 18 months and has offered a subsidy of Rs 17.5 crore to support the purchase of higher priced bicycles.
according to the proposed project The government will be responsible for a down payment of Rs 90,000 for the electric bike, at an estimated cost of Rs 170,000, while the buyer will pay Rs 10,000, which is a total initial payment of Rs 100,000. The bank will provide a commercial loan of Rs 70,000. Interest will be charged at Kibor+2 or 19 per cent which is expected to be Rs.13,300.
under this proposed project There is also a 24 month installment plan in which the customer will pay Rs. 4,310 per month, which includes principal of Rs. 2,917, interest of Rs. 1,109 and security deposit of Rs. 284 (2 pieces).
GOVERNMENT RECOMMENDED E-BIKES TO SAVE ENERGY
The ministry forecasts that 15,000 electric bicycles will be produced/sold during the fiscal year 2022-26, while 60,000 and 100,000 electric bicycles will be produced in 2024-24, 2024-25 respectively, bringing the total electric bicycle production to 100,000. 175,000 units in three years
Electric bikes will be given to students with salaried parents. Female students/employees (20 pieces of quota), transgender people (1 piece of quota), government employees Salary private sector/self-employed with NTN and bank account government/army Pensioners and Masjid Imams/Hafiz Quran/Muazzam Which is accredited by an institution recognized by the Government of Pakistan. (Certified by the Ministry of Religious Affairs)
Under the subsidized leasing model, Rs. 100,000 will be shared by the government and consumers, while Rs.70,000 will be received by banks in the form of loans. There are 50 loans guaranteed by the government.
The projects are likely to start in Islamabad, Peshawar, Quetta, Lahore and Karachi initially.
The electric bike project was already presented at the latest cabinet meeting. and the Prime Minister has forwarded it to the Economic Coordinating Committee for further consideration.
