Thu. May 30th, 2024
20000 Interest Free Punjab Bike Scheme 2024 for Students

Interest Free Punjab Bike Scheme

The good news for the students is that Punjab Chief Minister Maryam Nawaz has approved the Punjab Bike Scheme. Through this scheme, 20,000 electric and petrol bikes will be distributed to students across Punjab on an interest-free loan basis. In this article, you will get complete information about the scheme. You will be told how you can benefit from the scheme. You will be provided complete information about the installation details in this article.

Also Read: Punjab Rozgar Scheme Apply Online Latest Update 2024

Total Number of Bikes

Let us tell you that under this scheme, 20 thousand bikes will be distributed among the students by the Punjab government. These include 1,000 electric bikes and 19,000 petrol bikes. What is noteworthy here is that, on the special instructions of the Punjab Chief Minister, no interest will be charged to the students on the monthly installments, but he has assured that the interest will be paid by the Punjab government itself.

Monthly Installment

For those students who wanted to know about the installment plan, let us tell you that a partnership has been established with the Bank of Punjab on behalf of the Punjab government. In order to provide maximum relief to the students, the installment of electric bikes has been fixed at 10,000 rupees and the installment of petrol bikes at 5,000 rupees. The purpose of setting such a low installment is to provide maximum relief to the students so that they can continue their education.

Interest Free Punjab Bike Scheme

Delivery & Quota

If we talk about delivery and quota, then let us tell you that the Punjab government will conduct the lottery of the applications submitted by the male and female students in May this year. The purpose of drawing lots is to ensure fairness in the process of distribution. But if we talk about the quota, bikes will be distributed equally among male and female students in urban areas by the Punjab government. And within the rural areas, 70 percent of the male students and 30 percent of the female students have been allocated.

Also Read: BISP Savings Scheme 2024 Online Registration and Eligibility

Application Procedure of Punjab Bike Scheme

The Punjab government has not yet started the registration process for the scheme; soon, the Punjab government and the Bank of Punjab will start its registration. For which the students will be able to go to the BOP branch and submit their application. The complete procedure for submitting the application will be provided to you shortly, the complete details of which will be available on the same website.

Final Words

Punjab Chief Minister Maryam Nawaz has been instructed to start the delivery of bikes after the draw in May. The plan to supply 20,000 bikes will make life easier for students. The provision of bikes is a revolutionary scheme of the “Chief Minister Youth Initiative.” In this regard, an MoU has been signed between the Transport Department and Punjab Bank in the presence of Punjab Chief Minister Maryam Nawaz Sharif. The purpose of this initiative on behalf of the Punjab government is to minimize the burden of transport for male and female students.

By 8171Update

Welcome to our comprehensive portal offering the latest news about Ehsaas Program, BISP, and Govt Programs in Pakistan. Stay informed with the most recent News.

One thought on “20000 Interest Free Punjab Bike Scheme 2024 for Students”

Leave a Reply

Your email address will not be published. Required fields are marked *