LAHORE: In a move to address environmental concerns in the provincial metropolis, the Punjab government has unveiled a plan to distribute 10,000 electric bikes among students from various educational institutions.
This initiative aims to provide a sustainable and eco-friendly mode of transportation while promoting the use of electric vehicles.
The Bank of Punjab has collaborated with the government to present a financing scheme for students, allowing them to acquire electric bikes through easy installments with a minimal interest rate. The financing period has been set at two years, and the markup fixed at a modest six percent.
A meeting was convened at the P&D Board, chaired by Provincial Minister for Planning and Development, Bilal Afzal. Attendees included Chairman P&D Board Iftikhar Ali Sahoo, Secretary P&D Board Muzaffar Khan Sial, members of the P&D Board, and other government officials. During the meeting, various proposals were scrutinized, and the transport department provided a detailed briefing on the eligibility criteria for students to avail themselves of electric bikes from renowned manufacturers such as Honda.
Minister Bilal Afzal emphasised that the electric bike supply program is a government pilot project aimed at capitalising on the market and fostering the use of electric bikes. He instructed the committee to develop a rational and cost-effective financing model, submitting a comprehensive plan to the Chief Minister of Punjab and the cabinet for approval. Afzal highlighted the need for a framework to approve student applications and called for continuous monitoring of the e-bike scheme to ensure its success and efficiency.
Afzal outlined the plan’s first phase, where e-bikes would be allocated to eligible and position-holder students through a balloting scheme facilitated by the Bank of Punjab.
Chairman P&D Board Iftikhar Ali Sahoo directed relevant departments, including transport, Bank of Punjab, higher education, and finance to collaborate on the program’s development. He specified that the initial distribution of e-bikes would focus on students in major cities such as Lahore, Rawalpindi, Multan, and Faisalabad, with a separate quota for both male and female students. This ambitious initiative reflects the government’s commitment to sustainable transportation solutions and environmental conservation.
Copyright Business Recorder, 2023
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