Chief Minister of Punjab Maryam Nawaz has announced the launch Punjab Government Electric Bike Scheme 2024 for students under the government youth welfare program. This scheme offers a unique opportunity for students in Punjab to own a bike, which can significantly enhance their mobility and independence. The bikes will be provided in monthly instalments, and the best part is that this scheme is interest-free, making it even more affordable for students.
With this quality initiative of CM Punjab, Maryam Nawaz, students can get petrol bikes and e-bikes on a monthly instalment plan. The Punjab government announced 20,000 bikes, of which 1000 are petrol-free.
FAQ’s Related to CM Punjab E-Bike scheme
After announcing the great news from the Punjab Government, many questions arose in people’s minds:
Q) You might be curious about the bike scheme announced by the Punjab government.
Q) What is the eligibility criteria of E-Bike by Punjab Government?
Q) How do you apply for the Cm E-bike scheme in 2024?
Q) How many E-bikes will be distributed?
Q) What is the monthly instalment of CM E Bike scheme for students?
Q) What is the down payment for E-Bike by Punjab Government?
Q) How many electric and petrol bikes they are offering?
Just for you, we have gathered all the answers to these questions. Below, we are going to discuss them.
Total Numbers of Bikes
Chief Minister of Punjab Maryam Nawaz announced that 19000 petrol and 1000 electric bikes will be distributed to students in monthly instalments, without any interest. The monthly instalment for petrol bikes will be 5000, and for electric bikes, it will be 10000. The distribution plan has been carefully designed to cater to rural and urban areas, ensuring equal opportunity for all students.
| Petrol Bike | Electric Bike | |
| Total | 19000 | 1000 |
| For male students | 11,676 | 700 |
| For female students | 7,324 | 300 |
Quota for Urban and Rural areas
In urban areas, the population is equally divided between males and females. 50% of allocations have been made for males and 50% for females. In rural areas, 70% of allocations have been made for male students and 30% for female students, aligning with the demographics of the rural region.
How to Register for the Bike Scheme 2024?
The Punjab Bank will conduct the registration for the bike scheme. The process will begin soon, and we expect to provide the bikes by the end of May. Detailed instructions on how to register will be provided on the Punjab Bank’s website and other official channels. You can use any photo editing app to edit your documents. You can download Meitu here.
Punjab Government Electric Bike Scheme 2024
Eligibility Criteria For Bikes Scheme
The eligibility criteria for this exciting bike scheme will depend on your enrollment status and specific documentation requirements, which will be clearly outlined during the registration process. This way, you will be fully informed about what is required.
- Must be over the age of 18.
- Must be a regular student of college/ University, duly recognised by HEC.
- Must hold a valid motorcycle driving licence.
- If an application over-allocated quotas is received, e-balloting shall be conducted.
Remember that the Degree college / University students studying in the following five cities will be considered in the first phase for an e-bike. These five cities are:
- Lahore
- Faisalabad
- Multan
- Rawalpindi
- Bahawalpur
CM Punjab Bike Scheme Online Apply
Candidates can apply online for the Punjab Bike Scheme; the process is simple. Here are the methods for applying online for the CM Punjab Maryam Nawaz Bike Scheme.
- Visit the official website of the “Punjab Government Bike Scheme Website”.
- Click on Register.
- Enter the required details: CNIC, Email, Gender and, Password.
- After registration, fill out the application form.
- Choose between electric and petrol bikes to apply.
- You will need to enter the details of your parents, spouse, and siblings, which are as follows:
- Personal information.
- Income detail.
- Provide details of the previous loan availed from the government.
If the student has income and no objection is considered, they will be regarded as a “ Primary Browser.” Remember that the government will receive applications only in April 2024, so candidates should apply as soon as possible.
Reasons for Application Rejections
The POB(Bank of Punjab) has rejected the application for the following reasons;
- Unsatisfactory physical verification.
- Fake or incorrect information.
- Bad credit history.
- Failure to comply with the name screening.
- High DBR.
Here is a little confusion: How do you calculate the debt-to-burden ratio?
Well! The monthly instalment of the Co-borrower for all loans already available and the expected instalment of the current loan facility are divided by monthly net disposable income multiplied by 100.
Many are thinking about the Co-Browser.
A Co-Browser is necessary for this scheme because it repays the loan instalment on behalf of the student if the student has no source of income.
Draw For Bikes Schemes
As assured by CM Maryam Nawaz, the bike distribution process will be transparent and fair, ensuring equal opportunity for all capable candidates. The expected date for bike providing will be the end of May 2024 to maintain transparency, with the same distribution schedule commenced. The application registration schedule will be announced before Eid. Rest assured, the distribution of bikes will be held timely and to the public will be ensured.
Punjab Government Instalment Plan for Bike Scheme 2024
Let’s discuss the instalment plan for the electric bike and petrol bike schemes. All processes will be done through Punjab Bank. Now the question is, how many rupees do you have to pay each month for an e-bike or a petrol bike? According to various media sources, here is the government’s interest-free bike scheme breakdown.
The bike instalment scheme for 2024 is:
The down payment is RS 25000, as per the media report.
Instalment period: 2 years
Monthly instalment:
- For e-bikes, RS 10000 per month
- For petrol bikes RS 5000per month
Are there any additional charges?
No, there are no additional charges. The scheme aims to be transparent and without hidden costs, ensuring student affordability.
The State Bank of Pakistan requires a 30% balance to be paid by the borrower. In the case of the Petrol bike, the total price is RS 150,000, and the borrower needs to pay RS 45000, which is 30% of the total cost. But the Government of Punjab has given a particular relief that instead of RS 45000, you can pay RS 20000 by the Punjab Government on behalf of the applicant. It means the Candidate has to pay RS 25000 as a down payment for petrol bike. Additionally, all bike markup loans shall be paid to the Punjab Government.
Benefits of the Bike Scheme
This scheme is a significant step toward promoting and encouraging excellent mobility and independence. It ensured the transportation burden for the students and marked a substantial step toward transportation access across Punjab. While including electric bikes could be higher, the initiative is commendable nonetheless.
About Bike Scheme
The Punjab Government has announced that 20,000 e-bikes will be delivered to students with easy instalments. The first ever country female CM, Maryam Nawaz, has approved and prioritized this scheme. She said that e-bikes and fuel bikes will help students in daily transportation. The government has announced an offer to allow students to get bikes with a down payment of RS 25000, and the monthly instalment will be 5000. The application for bike registration will be started after EID, and bike distribution will begin at the end of May 2024.