Physical Address

304 North Cardinal St.
Dorchester Center, MA 02124

Punjab Government’s Initiative: Supporting Students with Financial Aid for Electric Bike Purchases

“Punjab Government and Bank of Punjab collaborate to combat city pollution by offering affordable electric bikes to students. Learn about the sustainable initiative promoting green finance and lower student loan interest rates for a cleaner, greener future!”

Punjab Government's Initiative

The Punjab government, along with the Bank of Punjab, has joined hands to tackle pollution in the city. They have finalized a plan to assist students in buying electric bikes through affordable payments.

This decision was made in a meeting led by Bilal Afzal, the Provincial Minister for Planning and Development, and Iftikhar Ali Sahu, Chairman of the Planning and Development (P&D) Board.

The meeting focused on ideas from a committee formed by the Punjab government to make it easier for students to get electric bikes. Transport Secretary Ahmed Javed Qazi gave a detailed presentation, covering information about different bike manufacturers, pricing, and a study of the electric bike market.

He also explained the admission requirements, the computerized drawing method, and the online application process facilitated by the Punjab Information Technology Board (PITB).

The Bank of Punjab introduced a “Post-Purchase Reimbursement Model” for distributing electric bikes, offering various credit values and discount options. They pledged to keep student loan interest rates lower and proposed a sustainable business model called green finance.

Minister Bilal Afzal encouraged the group to develop a practical model and stressed the importance of submitting a report with workable ideas to the Punjab Cabinet for approval. The final decision on spending and discount rates for the electric bike scheme will be made by the Chief Minister of Punjab and the Cabinet.

Minister Bilal Afzal also approved the formation of a sub-committee, led by the Chairman of the P&D Board, to assess the program’s environmental benefits in reducing pollution in Lahore. This sub-committee, scheduled to meet next week, will include officials from various departments such as DG Excise and Taxation, Traffic Police, the Bank of Punjab, and Transport Secretaries.

British Council Unveils Scholarships for Pakistani Students to Study in the UK

Iftikhar Ali Sahu, Chairman of the P&D Board, mentioned that the Bank of Punjab will present a feasible subsidy plan based on a soft lease at the upcoming sub-committee meeting. He emphasized that initially, the plan will benefit students at universities and colleges, emphasizing the crucial role of educational institutions in ensuring the success of the initiative.

Leave a Reply

Your email address will not be published. Required fields are marked *