In a coordinated effort to address city pollution, the Punjab government, in partnership with the Bank of Punjab, has completed its plan to give financial help to students to buy electric bikes in affordable payments.
The decision was made during a meeting presided over by Bilal Afzal, Provincial Minister for Planning and Development, and Iftikhar Ali Sahu, Chairman of the Planning and Development (P&D) Board.
The discussion at the P&D Board focused on ideas from the Punjab government’s committee formed to ease the distribution of electric bikes to students.
During the event, Transport Secretary Ahmed Javed Qazi provided a detailed briefing that included information on various manufacturers, pricing structures, and a market study of electric bikes.
Also Read: Lahore Adds 4 New Driving Test Spots
He described the proposed admission requirements for candidates, the computerized draw method, and the online application procedure made possible by the Punjab Information Technology Board (PITB).
In addition, the Bank of Punjab established a “Post-Purchase Reimbursement Model” for the distribution of electric motorcycles, including a variety of credit value and discount ideas.
The bank promised to keep student loan interest rates lower than on other loans and to present the committee with a sustainable business model known as green finance.
Provincial Planning and Development Minister Bilal Afzal urged the group to develop a reasonable model, emphasizing the need to submit a report with practical ideas to the Punjab Cabinet for approval.
The Chief Minister of Punjab and the Cabinet will make the ultimate decision on the spending and discount rate for the electric bike delivery scheme.
Minister Bilal Afzal sanctioned the formation of a sub-committee chaired by the Chairman P&D Board to address the program’s environmental benefits in reducing pollution in Lahore.
This sub-committee, which is set to meet, next week, will comprise officials from the DG Excise and Taxation, Traffic Police, the Bank of Punjab, Secretaries of Transport, and other pertinent departments.
Iftikhar Ali Sahu, Chairman of the P&D Board, indicated that the Bank of Punjab will submit a feasible subsidy plan based on a soft lease at the future sub-committee meeting.
He underlined that the plan will initially benefit only students at universities and colleges, highlighting the importance of educational institutions in guaranteeing the initiative’s success.
