One of the biggest import bills of Pakistan is fuel, we have to import fuel for automobiles as Pakistan is not a major oil-producing country. A large number of our population uses motorcycles and 2-wheelers for daily commutes. Govt of Pakistan is planning to replace fuel-powered motorcycles with electric bikes and reduce fuel bills by at least 50 percent.
Though there are many local electric bike manufacturers in Pakistan like Jolta, MS Jaguar, and Road King still many importers are importing different electric bikes in Pakistan. The irony is that locally manufactured Electric bikes are sub-standard in quality and very expensive while the imported electric bikes may have good quality and features but they are expensive.
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Electric Bikes in Pakistan
This new plan was presented at a federal cabinet meeting, where the Engineering Development Board (EDB) and the Ministry of Industries and Production provided detailed information. According to press reports, the ministry intends to build 175,000 E-bikes over the next three years. The ministry expects to produce and sell approximately 15,000 e-bikes during the current fiscal year, 60,000 in 2022-23, and 100,000 in 2024-25, according to the plan.
The government is currently planning to pay Rs. 90,000 for a bike that will likely cost around Rs. 170,000. The customer will make a down payment of Rs. 10,000, bringing the total to Rs. 100,000. Last but not least, the bank will grant a commercial loan for Rs. 70,000 with a Kibro+2 interest rate. A 24-month installment plan has been suggested by the industry in the interim. The consumer will pay Rs. 4,310/month for this plan, which includes Rs. 2,917 for the principal, Rs. 1,109 for interest, and Rs. 284 for insurance (2%).
Subsidy for Electric Bikes in Pakistan
Furthermore, the government intends to subsidize these bikes in the following ways:
Students whose parents work
Female workers (20% quota)
Transgender individuals (1% quota)
Employees of the government
Individuals in the private sector with an NTN and a bank account, as well as government/armed forces pensioners
Muazzan and Imam Masjid/Hafiz-e-Quran (endorsed by Ministry of Religious Affairs)
Is it really worth replacing Regular Bikes gradually with Electric powered bikes? Technically yes! It will save us a lot in terms of fuel and will also help in creating a clean environment. The issue is that the product quality of locally manufactured electric bikes is usually pathetic. Only some are of great quality and have the latest features. If Govt plans to replace regular bikes with EVs, they better set a high standard of quality because motorcycles do a lot more in Pakistan than just being a commuter.