The federal government has launched a Cost Sharing Scheme for Electric Bikes and Rickshaws/Loaders for FY26, according to a circular issued by the State Bank of Pakistan (SBP) to all banks on Monday.
The scheme covers financing of around 116,000 e-bikes and 3,170 e-rickshaws/loaders, to be distributed in two phases. Phase-I includes 40,000 e-bikes and 1,000 rickshaws/loaders, while Phase-II covers 76,000 e-bikes and 2,171 rickshaws/loaders.
At least 25% of e-bikes will be allocated to women, up to 10% to business users such as courier and delivery riders, and up to 30% of rickshaws/loaders to fleet operators.
Eligibility extends to all Pakistani citizens with a valid CNIC, including those from Gilgit-Baltistan and Azad Jammu & Kashmir, with age limits of 18–65 years for e-bikes and 21–65 years for rickshaws/loaders. Fleet operators will also be eligible to apply, subject to criteria set by the steering committee.
Key financing features include a limit of Rs200,000 for two-wheelers and Rs880,000 for three-wheelers, with capital subsidies of up to Rs50,000 and Rs200,000 respectively. Loans will follow an 80:20 debt-to-equity ratio, where the borrower’s share is waived if fully covered by the subsidy.
The loan tenor will be two years for e-bikes and three years for rickshaws/loaders. End-users will pay no markup, as the government will bear the financing cost. Monthly instalments will cover only principal and insurance, with no processing charges.
The scheme also provides a 20% first-loss credit guarantee, while NADRA Verisys and PMD checks will be paid by the government.
Banks will offer both conventional and Islamic financing through a digital lending platform hosted by the Ministry of Industries & Production and the Engineering Development Board (EDB).
Original Equipment Manufacturers (OEMs) shortlisted by the EDB will be responsible for delivery and after-sales service.
