In a progressive move, Punjab’s Chief Minister, Maryam Nawaz, has approved a scheme to provide students with interest-free electric bikes. This decision was made during a meeting in Lahore, where the provincial administration devised a plan to distribute over 20,000 electric and petrol motorbikes to citizens on an interest-free loan basis.
The meeting, attended by Maryam Nawaz and former Prime Minister Nawaz Sharif, focused on enhancing transport facilities for students across the province. The PML-N leadership also discussed the introduction of hybrid bus services as part of their student relief measures.
Under this initiative, the PML-N government will provide 19,000 petrol bikes and 1,000 electric bikes to students. These bikes will be distributed without any interest charged on the monthly installments. The Bank of Punjab (BOP) will partner in this initiative, facilitating the distribution of these two-wheelers.
The monthly installment for petrol bikes is set at Rs 5,000, while for electric bikes, it will be Rs 10,000. The government plans to conduct a draw in May this year, with bike deliveries commencing in the same month.
The quota distribution for these bikes will be equally divided between male and female students in urban areas. However, in rural areas, the quota will be 70% for male students and 30% for female students. This initiative marks a significant step towards sustainable and affordable transportation for students in Punjab.
