ISLAMABAD: The Economic Coordination Committee (ECC) approved a major subsidy plan to promote electric bikes and rickshaws in Pakistan. The Finance Division said Rs9 billion is allocated for the scheme in fiscal year 2025-26. This initiative aims to encourage citizens to switch to cleaner, greener vehicles. It also targets reducing pollution and supporting sustainable transport in the country.
According to the plan, the government will introduce 116,000 electric bikes and 3,170 electric rickshaws in two phases. The first phase, launching soon, will provide 40,000 bikes and 1,000 rickshaws. Additionally, top-performing students from government colleges will receive free electric bikes. This effort rewards academic excellence while promoting eco-friendly travel.
The ECC also approved a Rs30 billion grant to clear previous financial claims under the Telegraphic Transfer Charges Incentive Scheme. The Finance Division will work closely with the State Bank of Pakistan to manage payment procedures. They will also review the Pakistan Remittance Initiative for efficiency and financial viability. The final recommendations are due by mid-September.
Furthermore, the committee agreed on a Rs2 billion bailout grant for Quaid-i-Azam University. However, the university must submit a clear plan for long-term financial sustainability. This plan will help reduce reliance on future government bailouts. The university is collaborating with the Higher Education Commission to prepare this roadmap.
The meeting was led by Finance Minister Muhammad Aurangzeb and included key ministers and officials. This subsidy scheme marks an important step toward cleaner transport and financial reforms. It highlights Pakistan’s commitment to economic growth and environmental responsibility.
