LAHORE: Punjab Chief Minister Maryam Nawaz during the third cabinet meeting in Lahore announced to distribute 20,000 bikes to students in affordable installments on Tuesday.
CM Maryam highlighted the project and directed authorities to initiate work on the e-bike projects. Chief Minister indicated that fuel-powered and electric bikes will benefit students with their everyday commutes.
Amid skyrocketing bike prices, the government announced an offer that allows students to purchase a bike with a down payment of Rs25,000 and a monthly payment of less than Rs5,000.
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The distribution of bikes is set to commence in May 2024. Furthermore, a second program will be implemented to distribute motorcycles to high-achieving students. She said the government had decided to provide fuel-consuming bikes too along with electric bikes on easy installments.
Former Prime Minister Nawaz Sharif requested that the Punjab government boost the quantity of bikes while keeping monthly installments low, prompting the decision to supply bikes to students on easy installments.
“Monthly installment of bikes for students should be kept minimum, as it is a responsibility of the government to share the financial burden of students,” the PML-N supremo said on Monday.
Monthly Installment e-Bikes Scheme Punjab
During the MoU signing ceremony between the Punjab Transport Department and Punjab Bank, Punjab Chief Minister Maryam Nawaz Sharif said 19,000 petrol and 1,000 electric bikes would be given to students free of interest in monthly installments.
The monthly installment of a petrol bike will be 5000 and the monthly installment of an e-bike will be less than 10000. Registration of students for bikes will be started as soon as possible.
The government intends to award the motorcycles to students through a draw in May 2024. After the draw in May, delivery of bikes will be started in the same month. In villages, 70% quota was reserved for male students and 30% for female students.
Punjab Students Bike Scheme registration
According to the Punjab government, the registration for the 20,000 bikes will start soon. Bikes will be provided to students at the end of May.