Over 110,000 Students Enroll in CM Punjab’s Motorcycle Scheme

Over 110,000 Students Enroll in CM Punjab’s Motorcycle Scheme

Punjab Chief Minister Maryam Nawaz’s initiative to provide motorcycles to students through interest-free installments has witnessed an exceptional turnout, with more than 110,000 students registering for the scheme. Let’s delve into the comprehensive details of this program and its significance for Punjab’s student community.

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Overview of CM Punjab’s Motorcycle Scheme

The recent launch of Punjab Chief Minister Maryam Nawaz’s motorcycle scheme has garnered significant attention. Here are the key highlights of the initiative:

  • Registration surpasses 110,000 students.
  • The Punjab Information Technology Board (PITB) manages around 16,000 online applications.
  • Among the applicants, over 13,000 opt for petrol bikes, while 3,800 prefer electric motorcycles.
  • Initially accessible to students from Lahore, Multan, Faisalabad, Bahawalpur, and Rawalpindi Divisions.

How Does the Scheme Operate?

This scheme facilitates students in acquiring petrol motorcycles and electric bikes through convenient monthly installment plans. The Punjab government covers the down payment and also bears the monthly installment markup.

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Eligibility Criteria

Students hailing from Lahore, Multan, Faisalabad, Bahawalpur, and Rawalpindi Divisions are eligible to apply during the initial phase.

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Application Deadline

The deadline for application submissions for availing the motorcycle scheme benefits is April 29, 2024.

Monthly Installment Options

  • Male students can choose to pay Rs 11,676 per month.
  • Female students are offered a discounted rate of Rs 7,325 per month.
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Equitable Distribution

Motorcycles distribution in Lahore adheres to equitable principles, ensuring fair access based on district population density.

Conclusion

CM Punjab’s Motorcycle Scheme has received an overwhelming response, signifying its importance to students across the region. With convenient monthly installment plans and interest-free loans, this initiative promises to enhance student mobility and accessibility. Act swiftly and apply before the deadline on April 29, 2024, to seize this opportunity of owning a motorcycle or e-bike.

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