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A good news is around the corner as the government of Pakistan has taken a significant step towards promoting the use of electric vehicles (EVs)! The government will soon be offering interest-free loans to 15,000 applicants who wish to purchase an EV bikes. This initiative aims to reduce pollution and promote eco-friendly transportation options in the country.
You can get these interest-free loans based on the eligibility criteria. The government is making an effort to make it simpler for individuals to transition to electric bikes, which are not only economical but also environmentally good. The government is hoping that by launching this program, more individuals would choose to buy EVs, particularly in cities where pollution levels are unacceptably high.
We all know that the use of electric bikes offers a variety of benefits to riders. According to the Ministry of Climate Change, 2 units of electricity can provide a range of 60-70 km for an EV bike, costing less than Rs1/km. In contrast, the cost of running a petrol bike is around Rs5/km. Therefore, EV bikes offer a significant cost-saving advantage over petrol bikes.
The fuel-efficient nature of EV bikes means that the annual mileage of approximately 40km per day could save up to Rs50,000 per year for a rider. This financial advantage will hopefully increase the appeal of EV bikes among users, enabling them to save money while lowering the nation’s pollution levels.
The government’s initiative to provide interest-free loans for EV bikes is a positive step towards encouraging the adoption of eco-friendly transportation options in Pakistan. This effort is expected to have positive effects on the economy and the environment because it will reduce pollution levels while also saving passengers money on fuel.
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