LAHORE – The registration for the Punjab motorcycle scheme was closed on May 1 (Wednesday) with students now waiting for the draw results.
Under the Chief Minister Youth Initiative, the government will be provide 19,000 petrol bikes and 1,000 e-bikes through Bank of Punjab under the interest-free installment plan. The provincial government will provide a subsidy of Rs1 billion for interest-free bikes.
Students of degree colleges and university were eligible to apply for the interest-free motorcycle.
In the first Phase 1 of the scheme, regular students from Faisalabad, Multan, Bahawalpur, Rawalpindi and Lahore will be given motorcycles by the government through balloting.
Till closure of registration, the government has received total 72, 640 applications. Out of which, 57,366 students have applied for the petrol motorcycle and 15, 274 has submitted applications for e-bikes.
How Would the Balloting Take Place?
The balloting shall be carried out electronically under the arrangements of the Punjab Information Technology Board (PITB).
Punjab Motorcycle Scheme Balloting Schedule
The government has not officially made any announcement regarding balloting but it is hoped that it would take place in May 2024.
