LAHORE: On January 09, 2024, the Transport Department of the Government of Punjab organized a launch ceremony to unveil innovative projects intended to transform the transportation industry. The event, which took place at the Faletti’s Hotel Lahore, highlighted the GoPb’s dedication to advancing environmentally beneficial and sustainable forms of transportation.
This project included the introduction of an interest-free program with The Bank of Punjab (BOP) with the goal of giving 10,000 e-Bikes to university students in Punjab. In addition, GoPb awarded the first license for eRickshaws and started registering modified three-wheelers. These are important turning points in Punjab’s move to environmentally friendly transportation.
This occasion was graced by Mr. Mohsin Raza Naqvi, Chief Minister of Punjab, who in no unequivocal words stated about the determination of his Government in promoting e-Mobility for environmental benefits. Attendees included senior Bank officials, high-ranking government officials, delegates from several electronic vehicle manufacturers, and Mr. Zafar Masud, President/CEO of BOP.
Lahore is among the most polluted cities in the world, according to Mr. Naqvi, and the time has come for everyone to contribute in some way. He was pleased to introduce the first interest-free e-Bike Scheme for students and the interest-free financing of 10,000 e-Rickshaws in Punjab. He was thrilled that BOP has taken the lead on this project.
Speaking at the event, Mr. Zafar Masud stressed the program’s primary benefits for advancing economic activity, environmental sustainability, youth empowerment, green financing, financial inclusion, and wider demographic accessible for Punjabi citizens. He conveyed his appreciation to the chief minister of Punjab and emphasized the importance of this collaboration in preserving the environment. Mr. Masud also added that adding environmental factors into banking system would assist BOP in directing foreign financing from multilaterals. He talked about a chance to promote green-financing projects through BOP, where a €50 million agreement with a foreign agency is being negotiated.
