The CEO of the Engineering Development Board Hammad Mansoor provided some important information in an interview with a private news outlet about the government’s subsidy program under the Prime Minister’s Electric Vehicle (EV) Scheme.
The initiative is set to make electric motorcycles and rickshaws more affordable through direct monetary support and institutionalised implementation.
Allocation and Targets of Finances
Under the scheme Rs100 billion has been allocated for the next five years. For the current financial year, the Prime Minister has cleared Rs9 billion.
This funding is aimed at the large-scale introduction of electric motorcycles and rickshaws around the country.
Subsidy Details
A total of 116,000 Electric motorcycles will be given a subsidy of Rs80,000 per unit this year.
For the electric rickshaws, the government is going to give a subsidy of Rs400,000 per vehicle.
As per the officials, the prices under the scheme are lower by Rs50,000 to Rs60,000 than other brands. The goal is to have 76,000 motorcycles by June.
Criteria for eligibility and Transparency
The scheme is available to persons who are at least 18 years of age and have a valid driving license.
Officials stressed that the process is totally transparent and is linked up to an automated process.
All phases of application and approval are managed by digital mechanisms in order to ensure accountability.
Environmental Benefits and Economic Benefits
Electric motorcycles play a part in helping to reduce environmental pollution and dependence on fuel.
Authorities said that the cost savings to the user can be around Rs8,000 in a month.
The initiative encourages sustainable transport and offers economic relief to the citizens in the form of government subsidies and organised relief.
Also read: Income-based energy subsidy likely for BISP beneficiaries
