ISLAMABAD: The implementation of the government’s electric vehicle adoption scheme has officially begun, offering easy instalment options for electric bikes. Under this scheme, a subsidy of up to Rs. 80,000 is being provided on electric bikes.
It is reported that the scheme initiated by the Prime Minister will support electric bike, rickshaw, and loader sales through government grants. The processing of grants has already started, and the government plans to allocate approximately Rs. 9 billion as subsidies for the upcoming fiscal year. The total direct financial support from the government is expected to exceed Rs. 100 billion by 2030.
The first phase has seen the approved applicants getting the subsidies already. This phase is composed of 41,000 electric vehicles, where 40,000 are electric bikes and the rest are rickshaws and loaders. The subsidy amounts are being credited to the individual beneficiaries’ bank accounts through the State Bank of Pakistan.
In the scheme, electric bikes and rickshaws can now be purchased on easy instalments using a bank leasing system. The second phase will see over 78,000 more electric vehicles being subsidized, and only registered electric vehicles will be the ones getting the financial aid.
According to officials, the primary aim of the project is to make green transportation cheaper and more accessible while cutting down on fuel use.
Good news for bike lovers: Honda CG 150 now available on easy instalments
Similarly, motorcycle lovers can now buy Atlas Honda’s popular CG 150 on easy instalments under Standard Chartered Bank‘s SC Asan scheme.
Good news for those looking to buy a motorcycle is that now it is not necessary to pay a huge amount at once to buy a new 150CC motorcycle.
Eligibility:
Under this scheme, eligible customers can buy the Honda CG 150 in instalments of 3, 6 or 12 months, while the bank is offering this facility at zero per cent markup. However, customers have to keep in mind that a one-time processing fee will be charged at the time of booking, in addition to which Federal Excise Duty (FED) may also be applicable separately according to the region.
According to the bank, the processing fee depends on the chosen tenor. A one-time fee of 1.99 per cent will be charged for 3 months, 5.99 per cent for a 6-month period and 11.99 per cent for 12 months.
The official price of the Honda CG 150 is Rs 459,900, while the net price after processing fees is Rs 450,999.
If a 3-month term is chosen, the monthly instalment will be approximately Rs 150,333; in case of 6 months, the instalment is Rs 75,167; while in case of 12 months, the monthly instalment is approximately Rs 37,583. However, the final amount may include FED and other regional taxes.
This facility is available only to traditional credit card holders of Standard Chartered Bank. For booking a motorcycle or for more information, customers can contact the 24-hour active helpline 021-111-002-002.
The bank and the company have clarified that all bookings will be subject to terms and conditions, while the final amount payable may vary due to taxes and regional charges. This move is being described as an important convenience for motorcycle users in the era of inflation.
