Govt to offer Rs50,000 electric bike subsidy under new EV policy

New Electric Vehicle policy will offer a subsidy of Rs50,000 for electric motorcycles and Rs200,000 for three-wheelers
An undated image. — iStock
An undated image. — iStock

In a bid to encourage citizens to normalise environment-friendly mobility, the government is planning to offer a signigicant subsidy on electric bikes (e-bikes) under a New Electric Vehicle (NEV) policy .

This was disclosed in a high-level meeting chaired by Haroon Akhtar Khan, the special assistant to the prime minister for industries and production.

The initiative aims to provide subsidies for 116,000 e-bikes, aligning with Prime Minister Shehbaz Sharif's vision for sustainable transport.

He highlighted the government's commitment to promoting electric vehicles, which are both environmentally friendly and cost-effective in terms of fuel savings. He announced that 25% of the allocated electric bikes will be reserved for women, ensuring greater inclusivity and accessibility.

This initiative is a significant step towards reducing Pakistan's carbon footprint and promoting sustainable transportation. 

The upcoming New Electric Vehicle (NEV) policy will offer a subsidy of Rs50,000 for electric motorcycles and Rs200,000 for three-wheelers, with a total subsidy allocation of Rs4 billion.

The discussions underscored the government’s dedication to enhancing the electric vehicle sector and fostering a greener future for Pakistan.