Karachi: The State Bank of Pakistan (SBP) on Monday announced the launch of a government-backed cost-sharing scheme to promote electric bikes (e-bikes) and e-rickshaws, aimed at boosting energy efficiency and accelerating the country’s shift towards green transport.
Under the programme, the government plans to finance around 116,000 e-bikes and 3,170 e-rickshaws/loaders during the current fiscal year. At least 25% of the e-bikes will be reserved for women, while up to 10% will be allocated for small business users, such as courier and delivery riders. In addition, as much as 30% of the e-rickshaws/loaders will go to fleet operators.
The initiative will roll out in two phases: 40,000 e-bikes and 1,000 e-rickshaws/loaders in the first phase, followed by 76,000 e-bikes and 2,171 e-rickshaws/loaders in the second phase.
To make financing affordable, the government will provide capital subsidies of up to PKR 50,000 per e-bike and PKR 200,000 per e-rickshaw/loader. Loans will be offered on an 80:20 debt-to-equity ratio, with the equity portion covered partly or entirely by the subsidy. The loans will be interest-free, with the government covering the full markup cost. Borrowers will only repay the principal amount and insurance in instalments, spread over a maximum of two years for e-bikes and three years for rickshaws and loaders.
“This means if the subsidy covers the full equity share, borrowers won’t have to contribute anything upfront,” the SBP said in its circular.
To ensure transparency, the scheme will be managed through a digital lending platform, minimising human interaction. Banks will integrate with the platform for application processing, approvals, and disbursements.
Vehicle models and vendors will be finalised by the Engineering Development Board (EDB), while manufacturers will be responsible for timely delivery and after-sales service.
Officials say the scheme is part of the government’s broader effort to cut fuel dependency, lower emissions, and provide affordable, eco-friendly transport options to the public.
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