By Staff Reporter
ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet approved on Thursday a loan scheme designed to offer E-bikes/E-rickshaws at a zero percent markup, with a repayment period of three years.
Finance Minister Ishaq Dar led the ECC meeting, during which the Ministry of Industries and Production submitted a summary outlining a financing program for electric bikes and E-rickshaws.
The summary presented details on the viability and demand for electric bikes, as well as the incentive structure for potential users to make them more affordable.
The ECC approved the Prime Minister’s Youth Business & Agriculture Loan Scheme model for E-bikes/E-rickshaws after discussion.
Under the program, clean loans up to Rs500,000 will be offered at a zero markup rate for repayment over three years.
The initiative will be available for up to 15,000 E-bikes/rickshaws during the current financial year.
The ministry of Industries & Production, in coordination with PMYB&ALS, will work out the details of the scheme’s implementation.
The ECC also approved the ministry of Commerce’s summary on the declaration of Customs Station Angoor Adda as an authorized export land route to Afghanistan and through Afghanistan to Central Asian Republics.
The ECC considered a summary of the Aviation Ministry and approved the increase in the government of Pakistan’s guarantee related to dollar-denominated loans of Pakistan International Airlines Corporation Limited.
The approval enhances the existing guarantee limit of Rs247.630 billion to Rs263.237 billion for loans amounting to Rs15.607 billion.
The Ministry of National Food Security and Research presented a summary on the price of sugar during the month of Ramadan and briefed the meeting on the outcome of the Sugar Advisory Board’s meeting with PSMA regarding the retail price of sugar.
The ECC endorsed the decisions of the meeting, with PSMA Punjab Zone agreeing to provide 20,000 tonnes of sugar at a retail price of Rs95/kg during the month of Ramadan for sale to the general public through the government of Punjab at the district level.
The ECC also directed officials to make similar arrangements with other provincial PSMAs for the provision of sugar in other provinces/areas.
Copyright © 2021 Independent Pakistan | All rights reserved
