Pakistan Launches Interest-Free Loan Scheme for E-Bikes, Electric Rickshaws & Loaders

The Government of Pakistan, in collaboration with the State Bank of Pakistan (SBP), has introduced a groundbreaking initiative to make clean and affordable transport accessible to citizens. Under this program, people can now purchase electric bikes, scooters, rickshaws, and loaders through an interest-free and subsidized loan scheme, announced officially via an SBP circular.

This large-scale initiative is designed to reduce reliance on costly fuel imports, promote eco-friendly transport, and empower groups such as women, delivery riders, and fleet operators.

Program Coverage and Phases

The scheme will cover:

• 116,000 e-bikes
• 3,170 electric rickshaws/loaders

It will be executed in two phases:

• Phase 1: 40,000 e-bikes + 1,000 rickshaws/loaders
• Phase 2: 76,000 e-bikes + 2,170 rickshaws/loaders

Eligibility Criteria

Applicants must meet the following requirements:

• Valid CNIC (Pakistan, Gilgit-Baltistan, Azad Kashmir)
• Age: 18–65 years for e-bikes, 21–65 years for rickshaws/loaders
• Valid driving license (for rickshaw/loader applicants)
• Active bank account
• Proof of income (salary slip, business proof, or student ID)
• No history of bank loan defaults

Special quotas ensure fairness:

• 25% of e-bikes reserved for women
• 10% for businesses such as delivery riders
• 30% of rickshaws/loaders for fleet operators

Loan & Subsidy Details

The maximum loan amount depends on the vehicle type:

• Up to Rs 200,000 for an e-bike (two-wheeler)
• Up to Rs 880,000 for a rickshaw or loader (three-wheeler)

If the cost exceeds the loan limit, the buyer will cover the remaining amount.

The government subsidy will help reduce the upfront cost:

• Up to Rs 50,000 for e-bikes
• Up to Rs 200,000 for rickshaws/loaders

This subsidy will be adjusted against the down payment, meaning buyers only repay the principal loan amount without any added interest.

Application Process

Applications will be submitted through a dedicated digital portal, eliminating the need for paperwork or physical office visits.

Banks will connect to the portal for verification, processing, and approval. Required documents include:

• CNIC
• Bank account details
• Driving license (if applicable)
• Income proof

The SBP and Ministry of Industries are expected to announce the official application link soon.

Why This Scheme Matters?

This initiative is more than just a financial plan—it is a step toward a sustainable transport future in Pakistan. By making electric mobility more affordable, the government is addressing:

• Rising fuel costs
• Pollution and environmental challenges
• Accessibility for women and workers
• Growth opportunities for delivery services and fleet operators

The program ensures that eco-friendly travel becomes mainstream, paving the way for greener cities and a stronger economy.

Afsheen Gohar

Afsheen Gohar is a seasoned writer with a wealth of experience in crafting authentic and well-researched articles. Her dedication to delivering high-quality content is evident in her work, where she combines a passion for storytelling with a commitment to accuracy and depth. Afsheen’s writing reflects her ability to engage readers with compelling narratives while providing valuable insights on a diverse range of topics.