Good news for youngsters, The Economic Coordination Committee (ECC) has approved a loan of up to Rs500,000 for electric bikes and rickshaws at zero interest rate.
The loan given on personal guarantee will be repayable in 3 years. Under the scheme, a target is to provide 15,000 electric bikes and 2,000 rickshaws this financial year. In the next three years, 175,000 e-bikes and 10,000 e-rickshaws are planned.
The loan will be given on personal guarantee for three years. A target has been set to provide 15,000 electric bikes and 2,000 e-rickshaws in the current financial year.
Finance Minister Ishaq Dar chaired a meeting of the Economic Coordination Committee (ECC) to review four different subsidy schemes for the promotion of electric bikes and e-rickshaws to save foreign exchange in the form of expensive imported fuel.