In a major move to reduce fuel dependency and promote eco-friendly transportation, the Government of Pakistan is set to launch a nationwide electric bike scheme on August 14, providing 116,000 e-bikes on easy installments.

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The scheme will be officially launched by Prime Minister Shehbaz Sharif, offering Rs50,000 subsidy per electric bike or rickshaw. The remaining cost estimated around Rs200,000 will be payable in monthly installments. The eligible age range is 18 to 65 years, and the financing model is being finalized with support from the State Bank of Pakistan and the Pakistan Banks’ Association.

This initiative is part of Pakistan’s long-term Electric Vehicle (EV) policy, which targets 30% vehicle electrification by 2030 and 90% by 2040. To achieve this, the government has planned a Rs100 billion subsidy over five years, starting with Rs9 billion allocated for the current fiscal year.

Additionally, 17 local companies have been licensed to manufacture e-bikes, boosting local production and employment. The scheme aims to reduce environmental pollution and offer affordable, sustainable transport solutions for the public.