The State Bank of Pakistan (SBP), in partnership with the federal government, has launched a major interest-free financing scheme to support the adoption of electric bikes, rickshaws, and loaders. The program, announced Monday, aims to distribute 116,000 e-bikes and 3,170 electric rickshaws/loaders during the 2025-26 fiscal year to promote eco-friendly transport solutions across the country.
The scheme will roll out in two phases. In the first phase, 40,000 e-bikes and 1,000 e-rickshaws/loaders will be financed. The remaining 76,000 e-bikes and 2,170 e-rickshaws/loaders will follow in the second phase. To ensure inclusion, a 25% quota is reserved for women, while 10% is set aside for people involved in delivery services or small businesses.
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For e-rickshaws and loaders, 30% of units are reserved for fleet operators. The scheme is open to all Pakistani citizens with valid CNICs, including those from Gilgit-Baltistan and Azad Jammu & Kashmir, subject to age limits. Applicants must be 18–65 years for e-bikes and 21–65 years for rickshaws/loaders.
To make the scheme financially accessible, the government will offer capital subsidies of up to Rs50,000 for e-bikes and Rs200,000 for rickshaws/loaders. Loans will follow an 80:20 debt-to-equity model, where the equity portion may be fully covered by the subsidy. If it is, the user won’t need to pay anything upfront. Monthly repayments will be interest-free, and only the principal and insurance costs will apply.
The SBP confirmed that all financing will be processed via a digital lending platform, reducing human interaction and increasing transparency. Banks will be integrated into this platform for real-time data sharing. The Engineering Development Board (EDB) will pre-approve vendors and vehicle models, and manufacturers must ensure timely delivery and after-sales service.