The government of Pakistan is taking a significant step towards promoting eco-friendly transportation by offering interest-free loans to 15,000 applicants who wish to purchase electric bikes. This initiative aims to reduce pollution and promote the use of electric vehicles in the country. Eligibility criteria have been set to simplify the process of transition to electric bikes, which are not only economical but also environmentally sustainable. The government hopes that by launching this program, more individuals will choose to buy electric bikes, particularly in cities where pollution levels are high.
The Ministry of Climate Change reports that an EV bike can cover a range of 60-70 km using just 2 units of electricity, costing less than Rs1/km, which is significantly cheaper than running a petrol bike, which costs around Rs5/km. With an annual mileage of 40 km per day, an EV bike can save a rider up to Rs50,000 per year, which offers a significant financial advantage over petrol bikes.
The government’s interest-free loan initiative for EV bikes is a positive step towards encouraging the adoption of eco-friendly transportation options in Pakistan. The initiative is expected to have positive impacts on the environment by reducing pollution levels while also saving passengers money on fuel. This initiative is a win-win for both the economy and the environment, and it is hoped that it will motivate more individuals to adopt electric bikes as their preferred mode of transportation.