Punjab Government is bringing green financing scheme. According to a local media premises, the Punjab government has completed its objective to give electric bikes to college and university students. The Punjab government will provide university and college students electric bikes, according to Urdu News, which cited official records.
A plan has been developed, according to Provincial Minister of Planning and Development Bilal Afazal, and it will be submitted to interim chief minister Mohsin Naqvi for approval. But a decision about electric bike discounts hasn’t been made yet.
According to Provincial Secretary of Transportation Javed Qazi, all the arrangements pertaining to the electric bike manufacturers and their rates have been finalized. In order to maintain openness, he continued, students would need to submit their applications online and there would be a draw.
Additionally, the Bank of Punjab will contribute funding to this program. Also, the chosen students’ institutions will be included to offer a guarantee on their behalf. The official disclosed that incredibly low financing rates will be applied to the purchase of electric bikes. Most significantly, after their schooling is over, students will have the option to return the bike and receive a refund based on the current price.
With green financing, the Punjab government is getting ready to introduce electric motorcycles. This scheme, with an interest rate of up to 6%, is classified as a soft loan by the Bank of Punjab. According to Bilal Afzal, the plan would be implemented in January after receiving provincial cabinet permission.