Islamabad: The government has formally started implementing a special subsidy scheme for electric bikes, rickshaws and loaders, aimed at promoting affordable and environment-friendly transport across the country.
Under the Prime Minister’s Electric Vehicle Adoption Scheme, subsidy amounts have already been transferred to the bank accounts of approved applicants in the first phase, officials confirmed.
Rs9 Billion Subsidy This Year
According to the Engineering Development Board (EDB), the government will provide around Rs9 billion in subsidies during the current financial year.
Officials said the government plans to offer more than Rs100 billion in subsidies by 2030 to accelerate the shift towards electric mobility.
41,000 Electric Vehicles Covered in Phase One
Documents show that in the first phase, subsidies are being given for 41,000 electric vehicles, including:
40,000 electric bikes
1,000 electric rickshaws and loaders
In this phase, the subsidy amount is being directly transferred to applicants’ bank accounts through the State Bank of Pakistan.
Up to Rs80,000 Subsidy on Electric Bikes
Under the scheme, buyers can receive up to Rs80,000 subsidy on an electric bike. In addition, electric bikes and rickshaws are being offered on easy installments under bank leasing schemes.
Officials said preparations are also underway for the second phase, under which more than 78,000 additional electric vehicles will be covered.
Authorities said the main objective of the scheme is to encourage low-cost, eco-friendly transport and reduce the country’s dependence on fuel imports.
They clarified that only registered electric vehicles are eligible for the subsidy.