116,000 Electric Bikes Coming Soon – Govt Launches 2-Year Easy Installment Plan

In a major push toward sustainable mobility, the federal government of Pakistan is set to launch a nationwide scheme offering 116,000 electric bikes on a convenient two-year installment plan. The initiative aims to curb the country’s dependency on petrol and diesel vehicles by promoting affordable and eco-friendly transportation.

According to official sources, the electric bike subsidy and financing scheme is in its final stages, with Prime Minister Shehbaz Sharif expected to officially announce the new Electric Vehicle (EV) Policy on August 14, marking Independence Day.

The program is being developed in collaboration with the State Bank of Pakistan and the Pakistan Bank Association, and will provide a subsidy of Rs50,000 for each electric bike or rickshaw. Citizens between the ages of 18 and 65 will be eligible to apply.

Each electric bike is expected to cost approximately Rs250,000, with the subsidy reducing the initial payment burden. The remaining amount—around Rs200,000—can be paid in affordable monthly installments over a two-year period.

The government has also confirmed that 17 companies have been granted licenses to manufacture electric bikes under this program, signaling a strong start to the policy’s implementation. The broader objective of the new EV policy is to ensure that 30% of all vehicles in Pakistan are electric by 2030.

To drive this transformation, the government will allocate a substantial Rs100 billion in EV subsidies over the next five years. The annual subsidy distribution will be as follows:

• Rs9 billion for the current fiscal year

• Rs19 billion in 2027

• Rs24 billion in 2028

• Over Rs26 billion in 2029

• Approximately Rs23 billion in 2030

By 2030, the government aims to facilitate the production of 2.213 million electric vehicles, with an even more ambitious goal of 90% electric vehicles by 2040, and a fully zero-emission fleet by 2060.

Officials believe that widespread adoption of electric vehicles will not only cut down the country’s import bill for fossil fuels but also significantly reduce environmental pollution caused by traditional combustion engines.

The scheme reflects Pakistan’s growing commitment to a cleaner, greener future and is expected to make electric mobility more accessible to the general public across the country.