The State Bank of Pakistan (SBP) has unveiled a financing scheme aimed at promoting sustainable transport by providing electric motorbikes, rickshaws, and loaders across the country.
Under the program, a total of 116,000 electric bikes and 3,170 electric rickshaws/loaders will be distributed in two phases. In the first phase, 40,000 bikes and 1,000 rickshaws/loaders will be financed, followed by 76,000 bikes and 2,171 rickshaws/loaders in the second phase.
According to SBP officials, loans of PKR 200,000 will be offered for electric bikes, while financing of up to PKR 880,000 will be available for rickshaws and loaders. Loan tenures will be two years for bikes and three years for rickshaws/loaders. Although financing will be based on both Islamic and conventional banking models at 2.75%, consumers will benefit from zero percent markup.
The SBP also announced special allocations: 25% of e-bikes will go to women, 10% to small business owners and couriers, while 30% of rickshaws and loaders will be reserved for fleet operators.
