Punjab students eligible for 20,000 interest-free e-bikes

Punjab students eligible for 20,000 interest-free e-bikes

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Punjab Chief Minister Maryam Nawaz has shown her dedication to empowering the youth through the launch of “20,000 Interest-Free Bike Scheme for Punjab Students”. Led by the newly elected government, the initiative aims to provide affordable transportation solutions to students across the region. This scheme not only caters to the transportation needs of the students but also reduces the financial burden by providing interest free installment option.

Empowering youth with interest free bikes

Youth empowerment with interest free bikes
Under the guidance of Chief Minister Maryam Nawaz, the Punjab government has laid emphasis on the upliftment of the youth. Recognizing the importance of accessible transportation for students, the government has approved a scheme to provide interest-free bikes.

BOP Partnership for Installment Plans
To streamline bike distribution to students, the Punjab government has collaborated with Bank of Punjab (BOP). Through this partnership, students will benefit from convenient installment plans without any interest charges.

Also read: Distribution of 10000 e-bikes among students, workers and women,

e-bike distribution scheme

In Punjab, a well-structured distribution scheme has been put in place by the government to provide bikes to students. A total of 19,000 petrol bikes and 1,000 e-bikes are set to be distributed, with a draw scheduled for May and deliveries will begin soon thereafter. Ensuring fair access, the government has devised a quota system. Urban areas will see an equal split of quota between male and female students, while in rural areas, 70% of the quota has been allotted for male students and 30% for female students.

Amid economic constraints, the Punjab government is committed to reducing the financial burden on students. Through interest-free installment options, the government seeks to reduce the financial stress on students and enable their access to vital transportation.

Eligibility for Interest Free Bike Scheme

The interest free bike scheme is eligible for all students residing in Punjab.

Regarding the installment amount, petrol bikes require monthly payments. 5000, while for e-bike it is Rs. 10,000 per month.

Lastly, the “20,000 Interest-Free Bike Scheme for Punjab Students” underlines the Punjab Government’s unwavering commitment towards the well-being of its youth population. By providing affordable and convenient transportation options, the government aims to empower students and reduce financial pressure. Through strategic planning and collaborative efforts, this initiative is set to significantly improve the lives of students across the region.

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