Islamabad :– Chief Executive Officer of the Engineering Development Board, Hamad Ali Mansoor, stated that under the Prime Minister’s PEV (Personal Electric Vehicle) Scheme, the process of providing electric bikes, rickshaws, and loaders on easy installments, along with subsidy payments, has commenced. The initiative aims to provide the public with affordable and environmentally friendly transportation and reduce the country’s dependence on fuel.
Under this scheme, electric bikes are being offered a subsidy of up to PKR 80,000, which is being directly transferred to the approved bank accounts of applicants through the State Bank of Pakistan. Additionally, electric bikes and rickshaws are being provided on easy installments through bank leasing.
Hamad Ali Mansoor added that the Government of Pakistan plans to provide approximately PKR 9 billion in subsidies during the current fiscal year under the PEV Scheme, with a target of exceeding PKR 100 billion in subsidies by 2030. In the first phase of the scheme, subsidies are being provided to 41,000 fortunate recipients of electric vehicles, including 40,000 electric bikes and 1,000 electric rickshaws and loaders. The transfer of subsidy amounts to approved applicants of the first phase is progressing rapidly.
He further stated that the second phase of the scheme is about to begin, which plans to provide subsidies on over 78,000 electric vehicles. It is important to note that only individuals who obtain electric bikes, rickshaws, or loaders through an approved procedure under the PEV Scheme will be eligible for the government subsidy.
CEO of the Engineering Development Board said that under this scheme, electric bikes are being made available on easy installments to students, youth, and women. This government initiative is expected to help reduce fuel import bills, combat environmental pollution, and promote alternative energy sources.
The scheme aims to promote the use of electric vehicles in the country, reduce environmental pollution, strengthen local industry, and foster a sustainable and eco-friendly transport system.
