The Federal Government has decided to provide electric bikes to government employees in a bid to reduce the oil import bill following rising international oil prices.
76,000 electric bikes will be distributed among eligible participants. The Engineering Development Board’s proposal is currently awaiting final approval at the Prime Minister’s Office.
Under the scheme, the government will provide a subsidy of Rs. 80,000 per electric bike. Out of this, Rs. 30,000 will be paid to banks as interest support, while the remaining Rs. 50,000 will be transferred directly to the applicant’s bank account.
This comes after Prime Minister Shehbaz Sharif last week approved a draft plan to provide electric bikes to a select category of government staff.
Government employees whose salaries are processed through the Accountant General Pakistan Revenues (AGPR) will be eligible for the scheme.
To apply, employees will be required to submit an AGPR verification letter.
No personal guarantees will be required to apply for the subsidy.
A special quota will be allocated for journalists, who will receive electric bikes on a self-financed basis, unlike other participants, who will have access to an installment-based payment plan.
A separate quota for female journalists will also be introduced in the second phase.
The subsidy will only be released once the bike is registered in the applicant’s name.
The first phase faced verification challenges, as the National Database and Registration Authority was unable to verify certain applicants due to technical issues. Despite this, subsidies were successfully distributed to 40,000 citizens in the initial phase.
📢 For the latest Business news and analysis join ProPakistani's WhatsApp Group now!
Follow ProPakistani on Google News & scroll through your favourite content faster!
Shares
