KARACHI – The State Bank of Pakistan has introduced a new scheme to provide electric motorcycles, rickshaws, and loaders.
According to the bank, vehicles will be distributed in two phases under this plan, offering 116,000 electric bikes, 3,170 rickshaws, and loaders. For e-bikes, a loan of Rs200,000 will be provided, while electric rickshaws and loaders will receive loans of Rs880,000.
In the first phase, 40,000 e-bikes and 1,000 rickshaws/loaders will be given, followed by 76,000 e-bikes and 2,170 rickshaws/loaders in the second phase.
The central bank stated that e-bike loans will be for two years and rickshaw loans for three years, with pricing based on Islamic and conventional banking at KIBOR plus 2.75%, but consumers will get the loan at zero percent markup.
Officials added that 25% of e-bikes will be allocated to women, 10% to small business owners and couriers, while 30% of rickshaws and loaders will be provided to fleet operators.
