LAHORE – The deadline for submitting application for Chief Minister of Punjab’s e-taxi scheme has expired with applicants now waiting for the results.
The e-taxi initiative is aimed at promoting eco-friendly ride-hailing services, supporting the province’s green initiative, and creating employment opportunities, particularly for women. It is a part of the government’s broader strategy to reduce the carbon footprint and foster sustainable transportation in the region.
Interest-Free Loans for Individuals and Fleet Owners
Under this scheme, individuals and fleet owners will be offered term finance to set up e-taxi businesses.
The Government of Punjab (GoPb) is providing an interest-free loan structure, ensuring a zero-percent markup rate for all borrowers.
For individuals, the maximum loan amount available is Rs4,550,000, while fleet owners or ride-hailing companies can receive up to Rs1,000,000,000 to support their business ventures.
Flexible Repayment Terms
Repayment of the loan is structured in 57 equal monthly installments that cover both the principal and insurance.
Borrowers will also benefit from a 3-month grace period before the repayment schedule kicks in, providing ample time to set up operations.
Special Focus on Women and Fleet Owners from Lahore
In a bid to empower women in the workforce, the scheme offers a special quota for women in the program.
E-Balloting Date
If the number of applications exceeds the available vehicles, selection will be done through an e-balloting system to ensure transparency and fairness in the distribution process.
The government is yet to announce the date for the e-balloting.
