BoP Launches Interest-Free E-Bike and E-Rickshaw Initiates

E-Rickshaw Licensing to Promote Sustainable Transport

The Government of Punjab’s Transport Department recently held a launch ceremony at Faletti’s Hotel Lahore, marking a significant step towards revolutionizing the transportation sector. The event highlighted GoPb’s dedication to promoting sustainable and eco-friendly transportation methods.

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A key highlight of the initiative was the introduction of an interest-free scheme in collaboration with The Bank of Punjab (BOP), which aims to provide 10,000 e-Bikes to university students across Punjab. Additionally, the GoPb initiated the registration of retrofitted three-wheelers and issued the first licenses for eRickshaws, marking important strides in the state’s transition to sustainable transportation.

BoP Launches Interest-Free E-Bike Scheme for Students and Initiates E-Rickshaw Licensing to Promote Sustainable Transport

The ceremony was attended by the Chief Minister of Punjab, Mr. Mohsin Raza Naqvi, who expressed his government’s commitment to e-Mobility for its environmental benefits. High-profile attendees included Mr. Zafar Masud, President/CEO of BOP, senior bank officials, government representatives, and delegates from various electronic vehicle manufacturers.

Mr. Naqvi highlighted Lahore’s pollution issues and proudly announced BOP’s leading role in launching the first interest-free e-Bike scheme for students and eRickshaw financing in Punjab. He also announced future plans for providing e-Bikes to government servants, working women, and e-Scooties for disabled persons through similar interest-free programs.

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Mr. Zafar Masud, speaking at the event, emphasized the multiple benefits of this program, including economic activity, environmental sustainability, youth empowerment, green financing, financial inclusion, and broader demographic accessibility in Punjab. He expressed gratitude to the CM Punjab and highlighted the environmental importance of this partnership. Masud also mentioned BOP’s efforts to integrate environmental considerations into its banking system, potentially attracting international financing for green projects, including an upcoming €50 million agreement to support green-financing projects through BOP.

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