Govt Plans to Produce 175,000 Electric Bikes in Pakistan

To reduce the usage of expensive fuel and protect the country’s environment, the Ministry of Industries and Production is planning to focus more on electric vehicles, especially electric bikes in Pakistan. In this regard, the ministry has proposed more production, lease offers, and subsided bank financing plans for the consumers. 

This new scheme was presented in the federal cabinet meeting, where the Engineering Development Board (EDB) and the Ministry of Industries and Production gave a detailed briefing. 

According to media reports, the ministry has planned to produce 175,000 E-bikes in the next three years. Under the plan, the ministry expects to produce and sell around 15,000 e-bikes during the ongoing fiscal year, 60,000 in 2022-23 and 100,000 in 2024-25. 

Leasing Plans for Electric Bikes in Pakistan 

Meanwhile, the government is planning to bear Rs. 90,000 for a bike with an approximate price of Rs. 170,000. The customer will pay Rs. 10,000 as a down payment taking the total amount to Rs. 100,000. Finally, the bank will provide a commercial loan of Rs. 70,000 and charge an interest rate of Kibro+2.

Meanwhile, the industry has proposed a 24-month installment plan. Under this scheme, the consumer will pay Rs. 4,310/month, including the principal amount of Rs. 2,917, interest payment of Rs. 1,109, and insurance payment (2%) of Rs. 284. 

Furthermore, the government is planning to provide these bikes with a subsidy to the:

• Students with salaried parents
• Female students/employees (20% quota)
• Transgender persons (1% quota) 
• Government employees
• Private sector salaried/self-employed individuals with NTN & bank account, 
• Government/armed forces pensioners 
• Imam masjid/Hafiz-e-Quran and Muazzan (endorsed by Ministry of Religious Affairs) 

Promoting Local E – Bikes

To promote locally assembled/produced e-bikes and spare parts (Lithium-ion, swappable batteries), the ministry has proposed to make arrangements for charging at home or the workplace with personal chargers. Another proposal suggests that Pakistan State Oil (PSO) may be given the task of installing EV chargers in select outlets in different cities. 

As per reports, this scheme will potentially be launched as a Pilot Project for 2022-23 in Islamabad, Peshawar, Quetta, Lahore, and Karachi. 

 What do you think about this scheme about electric bikes in Pakistan? Please share your thoughts in the comments section.