Islamabad: To promote eco-friendly transport in Pakistan, the State Bank of Pakistan has launched a major scheme, under which citizens will be able to get e-bikes and electronic rickshaws on installments.
According to the announcement, a total of 116,000 e-bikes and 3,170 e-rickshaws and loaders will be provided to the public.
This scheme has been divided into two phases: in the first phase, 40,000 e-bikes and 1,000 e-rickshaws and loaders will be provided, while in the second phase, 76,000 e-bikes and 2,171 rickshaws and loaders will be provided.
According to the State Bank, a loan of up to Rs 200,000 will be provided for e-bikes and up to Rs 880,000 for e-rickshaws and loaders. The loan for e-bikes will be for two years and the loan for rickshaws will be for three years.
According to the policy, 25 percent of the e-bikes in the scheme are reserved for women, while 10 percent will be provided to couriers and small business owners, and 30 percent of the rickshaws and loaders will be provided to fleet operators. The loan will be taken from banks at KIBOR plus 2.75 percent, however, this facility will be available to the customers at zero percent markup.
