Islamabad(National Times)- According to sources, Prime Minister Shehbaz Sharif is set to announce the new EV policy on Independence Day. The initiative, developed in collaboration with the State Bank of Pakistan and the Bank Association, aims to promote sustainable transportation. Under the scheme, each e-bike and rickshaw will receive a Rs. 50,000 subsidy. The estimated price per electric bike is up to Rs. 250,000, with the remaining amount—over Rs. 200,000—to be paid in installments. Eligible applicants must be aged between 18 and 65 years. Seventeen companies have successfully obtained licenses to manufacture electric bikes, supporting the policy’s goal of achieving 30% electric vehicle adoption by 2030. To ensure the policy’s success, the government has allocated a total subsidy of Rs. 100 billion over five years. This includes Rs. 9 billion for the current fiscal year, Rs. 19 billion for 2027, over Rs. 24 billion for 2028, and more than Rs. 26 billion for 2029. In 2023, approximately Rs. 23 billion was allocated for subsidies. The policy also sets a target of producing 2.213 million electric vehicles by 2030, marking a significant step toward cleaner and more affordable transportation in Pakistan. Earlier, the Sindh government decided to provide free e-bikes to women to ease their transportation during professional duties. According to details, the Sindh Transport Department proposed a plan to distribute electric bikes to women and requested Rs300 million from the Sindh government. The transport department urged that this amount be allocated outside the regular budget.