Lahore: The Punjab government has finalized the financing scheme for its e-taxi service, with Chief Minister Maryam Nawaz approving subsidies, down payments, and bank loans to make the project more affordable for drivers.
In the initial phase, around 1,100 electric vehicles will be introduced under the scheme. Banks will provide loans of up to PKR 6.5 million for the purchase of vehicles, while the provincial government will bear the interest cost. Buyers will contribute a subsidized down payment, with the government paying PKR 585,000 on behalf of buyers for vehicles priced between PKR 4 million and PKR 10 million. The remaining amount will be financed through bank loans.
Officials confirmed that PKR 2 billion has been allocated for the initiative, which will rely on Chinese-manufactured electric vehicles in its first stage. To support the service, 18 charging stations have already been set up in Lahore, with plans to expand the network in the future.
The government expects the e-taxi service to lower transportation costs, reduce emissions, and modernize urban mobility. With financing details finalized, officials said the service will deliver both economic and environmental benefits once operational.
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