GREEN CNG AUTO RICKSHAW LOAN SCHEME

A loaning scheme costing Rs. 500 Million to finance the purchase of CNG Auto Rickshaw for the public has approved by PDWP in its meeting held on 02-08-2006. This scheme was started at Lahore, Gujranwala, Faisalabad, Rawalpindi, Multan & Gujarat. The average estimated price of Rickshaws to cover under the scheme is Rs. 1.326 lac per unit. PSIC has planned to lease out 5000 Rickshaws till 30-06-2009 utilizing amount of Rs. 500 Million. The amount of Rickshaw is being subsidized by Department of Transport by paying Rs.20, 000/- per rickshaw. The total subsidy would be 100 Million which would become due from DOT against 5000 rickshaw under the scheme. PSIC would extend loan equal to 75% cost of Rickshaw @ 5.50% profit p.a (flat).