Chief Executive Officer Engineering Development Board (EDB) Hamad Ali Mansoor on Thursday said that under the Prime Minister\u2019s PAVE (Pakistan Accelerated Vehicle Electrification) Scheme, the process of providing electric bikes, rickshaws, and loaders on easy installments along with subsidy payments, has commenced.
\nThe initiative aims to provide the public with affordable and environmentally friendly transportation and reduce the country\u2019s dependence on fuel, said a news release.
\nUnder this scheme, electric bikes are being offered a subsidy of up to Rs 80,000, which is being directly transferred to the approved bank accounts of applicants through the State Bank of Pakistan. Additionally, electric bikes and rickshaws are being provided on easy installments through bank leasing.
\nHamad Ali said that the government plans to provide approximately Rs 9 billion in subsidies during the current fiscal year under the PAVE Scheme, with a target of exceeding Rs 100 billion in subsidies by 2030.
\nIn the first phase of the scheme, subsidies are being provided to 41,000 fortunate recipients of electric vehicles, including 40,000 electric bikes and 1,000 electric rickshaws and loaders. The transfer of subsidy amounts to approved applicants of the first phase is progressing rapidly.
\nThe second phase of the scheme is about to begin, which plans to provide subsidies on over 78,000 electric vehicles. It is important to note that only individuals who obtain electric bikes, rickshaws, or loaders through an approved procedure under the PAVE Scheme will be eligible for the government subsidy, he remarked.
\nHamad Ali said that under the scheme, electric bikes are being made available on easy installments to students, youth, and women. This government initiative is expected to help reduce fuel import bills, combat environmental pollution, and promote alternative energy sources.
\nThe scheme aims to promote the use of electric vehicles in the country, reduce environmental pollution, strengthen local industry, and foster a sustainable and eco-friendly transport system.<\/p>\n","protected":false},"excerpt":{"rendered":"
Chief Executive Officer Engineering Development Board (EDB) Hamad Ali Mansoor on Thursday said that under the Prime Minister\u2019s PAVE (Pakistan Accelerated Vehicle Electrification) Scheme, the process of providing electric bikes, rickshaws, and loaders on easy installments along with subsidy payments, has commenced. The initiative aims to provide the public with affordable and environmentally friendly transportation […]<\/p>\n","protected":false},"author":2,"featured_media":530925,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":{"0":"post-530915","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-national"},"yoast_head":"\n