Home » Govt sets aside Rs 4 billion to promote electric bikes in Budget 2024-25

Govt sets aside Rs 4 billion to promote electric bikes in Budget 2024-25

by Haroon Amin
0 comment 105 views

Senator Muhammad Aurangzeb, Pakistan’s Finance Minister, included Rs. 2 billion for energy-saving enthusiasts and Rs. 4 billion to promote electric bikes, or e-bikes, in this year’s budget.

It is yet unclear if this e-bike campaign will be successful, though. This is because, when the government last launched an e-bike programme, there weren’t many e-bikes in Pakistan, therefore half of the bikes were standard motorcycles.

Either way, the goal of these programmes is to cut down on transportation-related carbon emissions while also reducing overall energy use. The Minister also emphasised Pakistan’s susceptibility to climate change and the government’s will to address the issue by reducing greenhouse gas emissions.

The government must take the initiative in combating climate change, according to Senator Aurangzeb. He emphasised the creation of the Pakistan Climate Change Authority, a brand-new organisation tasked with carrying out strategies that lessen the effects of climate change while also assisting Pakistan in adapting to them.

The National Climate Finance Strategy is being developed and is anticipated to be completed by October 2024, according to Senator Aurangzeb. The strategies to obtain foreign money for Pakistan’s climate initiatives will be delineated in this approach. Following that, the money will be put towards initiatives meant to reduce the nation’s carbon emissions.

Read more: 31 Companies Licensed For Electric Motorbike Production In Pakistan

The government’s proactive approach to resolving environmental concerns and encouraging sustainable mobility alternatives is evident in this ambitious strategy.

Combining financial incentives with support initiatives will be the strategy used to promote electric bikes, or “e-bikes,” in Pakistan.

  • Funding:

To promote e-bikes across the country, the government has set aside Rs. 4 billion.

  • Loan Programme:

More than 15,000 electric bikes and rickshaws will be made available at no cost to the government over a three-year period under the terms of the Energy Conservation Plan. Under the first category, up to Rs. 0.5 million in interest-free loans will be made available, with repayment due in 36 installments over the course of three years.

  • Past Difficulties:

It’s crucial to remember that the success of this project is being continuously monitored, particularly in light of the difficulties encountered by a prior e-bike programme because there weren’t enough e-bikes available in Pakistan.

  • Climate Change Mitigation:

The programme is a component of the government’s larger attempts to lower energy usage and carbon emissions in the transportation industry.

  • State Assistance:

Plans to lessen the consequences of climate change and assist Pakistan in adapting to them are anticipated to be implemented in large part thanks to the creation of the Pakistan Climate Change Authority and the creation of a National Climate Finance Strategy.

By promoting the use of e-bikes, this all-encompassing strategy hopes to make Pakistan’s transport system greener and more sustainable in the long run.

You may also like

Leave a Comment