Position-holder students across Pakistan will receive free electric bikes, as the Economic Coordination Committee (ECC) of the Cabinet on Tuesday approved the country’s new electric vehicle policy.

The ECC meeting, chaired by Finance Minister Senator Muhammad Aurangzeb, also approved a Rs9 billion subsidy for workshops and manufacturing units under the scheme.

As per the approved plan, 116,000 e-bikes and 3,170 e-rickshaws will be distributed during the 2025–26 fiscal year.

In the first phase, 40,000 e-bikes and 1,000 e-rickshaws are expected to be delivered.

In another key decision, the ECC approved a supplementary grant of Rs30 billion to clear outstanding dues under the Home Remittance Scheme, with liabilities reported to have reached Rs58.26 billion.

The finance ministry has been directed to coordinate with the State Bank of Pakistan to ensure timely disbursement and to present a financial review of the scheme by September 15.

Separately, the ECC approved a Rs2 billion bailout grant for Quaid-e-Azam University to address financial difficulties, directing the university to submit a plan for financial self-reliance.