Federal Govt to provide 116,000 e-bikes on installment

ISLAMABAD: The government of Pakistan has finalized plans to provide 116,000 electric bikes in two-year installments under the National Electric Vehicle (NEV) Policy 2025-30.

Prime Minister Shehbaz Sharif is set to announce the new EV policy on Independence Day. The initiative, developed in collaboration with the State Bank of Pakistan and the Banks Association, aims to promote sustainable transportation. Under the scheme, each e-bike and rickshaw will receive a Rs. 50,000 subsidy. The estimated cost of each electric bike is up to Rs. 250,000, with the remaining amount — more than Rs. 200,000 — to be paid in installments. Eligible applicants must be between the ages of 18 and 65. Seventeen companies have successfully obtained licenses to manufacture electric bikes, supporting the policy’s target of 30% electric vehicle adoption by 2030. To ensure the success of the policy, the government has allocated a total subsidy of Rs. 100 billion in five years.

This includes Rs. 9 billion for the current fiscal year, over Rs. 19 billion for 2027, over Rs. 24 billion for 2028, and over Rs. 26 billion for 2029. In 2023, about Rs. 23 billion was allocated for subsidies.

The policy also sets a target of producing 2.213 million electric vehicles by 2030, a significant step towards cleaner and more affordable transportation in Pakistan.