The Punjab government has officially started accepting registrations for 20,000 motorcycles on interest-free installments through the Chief Minister’s Youth Initiative, reported 24NewsHD TV channel Friday.
The government urges students to register for the scheme promptly, as an online portal has been created for this purpose.
The education-friendly initiative was launched by Punjab Chief Minister Maryam Nawaz, in collaboration with the Bank of Punjab.
The scheme will distribute 19,000 petrol motorcycles and 1,000 electric bikes among students, with the selection process conducted through balloting. There’s also a specific quota reserved for female students.
The government will also pay the down payment of Rs20000 and monthly markup on students' behalf and has allocated a subsidy of Rs one billion in this regard.
Male students will have to pay Rs11676 monthly instalment while female students will pay Rs7325 per month.
Of the 19,000 petrol bikes, 11,676 are allocated for male students, while 7,324 are designated for female students.
700 electric bikes have been allocated for male students, and 300 are designated for female students out of the total 1,000 electric bikes available in the scheme.
During Phase 1, regular students of HEC-recognized degree colleges and universities, both private and government, can register for the interest-free motorcycle scheme.
The scheme will initially roll out in Faisalabad, Multan, Bahawalpur, Rawalpindi, and Lahore.
This presents a fantastic opportunity for more than 800,000 students in the province to secure their means of transportation.
An applicant must be over 18 years of age and must be a regular student of a degree college or university duly recognized by HEC.
Must hold a valid motorcycle learner’s permit or driving license.
In the event of the receipt of applications in excess of the allocated quotas, e-balloting shall be conducted.
To begin the registration process, eligible students can register through the link: https://bikes.punjab.gov.pk/register.
On the registration page, they should enter their full name, email address, CNIC, and gender details. Afterwards, they will create their password to initiate the application process.
Once the registration is done, you’ll proceed to fill out the form for the motorcycle application online. You’ll have the option to choose between petrol and electric motorcycles.
The last date for applying for the scheme in April 29.