The State Bank of Pakistan (SBP) has announced a comprehensive financing initiative to accelerate the adoption of electric bikes and electric rickshaws across the country. Supported by the federal government, the program seeks to promote energy-efficient transportation and contribute to Pakistan’s transition toward sustainable mobility solutions. This new cost-sharing scheme aims to reduce the financial barriers associated with electric vehicle adoption, while fostering broader economic inclusion and environmental awareness among citizens and businesses.
According to details shared by SBP, the initiative will support financing for over 116,000 electric bikes and 3,000 electric rickshaws during the fiscal year 2025–26. The rollout will occur in two stages: the first phase will include 40,000 electric bikes and 1,000 rickshaws, while the remaining vehicles will be distributed in the second phase. The structure of the program reflects the government’s intent to provide equitable access to affordable and eco-friendly transportation options, reducing fuel dependency and carbon emissions in the urban and peri-urban commute sectors.
A defining feature of the scheme is its focus on inclusivity and social equity. SBP has reserved at least 25 percent of the electric bikes for women riders, encouraging their participation in sustainable mobility, while 10 percent of the allocation will go to individuals using bikes for business-related purposes such as courier and delivery services. Additionally, 30 percent of the rickshaws will be allotted to fleet operators, enabling logistics and passenger transport companies to transition to cleaner energy options. This distribution model is expected to support entrepreneurship, enhance accessibility, and create new livelihood opportunities, especially for lower and middle-income segments of society.
Financing will be made available through both conventional and Islamic banking channels, ensuring accessibility to a wide demographic. Notably, the scheme offers an end-user rate of 0 percent, as the federal government will bear the complete markup subsidy. Applicants will be required to make only equity payments and cover registration costs, with flexible repayment options extending up to three years. This structure makes electric mobility financially feasible for thousands of Pakistanis who might otherwise be priced out of EV adoption. To ensure transparency and smooth execution, SBP has instructed all participating banks to integrate their systems with a centralized digital portal that will streamline application processing and tracking.
The SBP’s electric vehicle financing scheme represents a significant policy-driven effort to support cleaner transport, improve air quality, and modernize Pakistan’s mobility infrastructure. With strong government backing, inclusive allocations, and zero-markup financing, the program demonstrates a coordinated step toward sustainable economic and environmental progress, setting the stage for wider adoption of electric mobility solutions nationwide.
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