Kundi Backs Student Scooter Financing in K-P
Khyber Pakhtunkhwa Governor Faisal Karim Kundi has directed the Bank of Khyber to introduce student scooter financing on easy instalments and to upgrade its mobile banking application.
Mr Kundi issued the directions on Thursday while chairing a high-level meeting on the affairs of the Bank of Khyber (BoK) at the Governor’s House in Peshawar. Adviser on Finance Tariq Mahmood Pasha, Additional Chief Secretary Planning and Development Islam Zeb, BoK Managing Director Hassan Raza and other senior officials attended.
The governor was briefed on proposed financing products offering easy-term credit to farmers, young people, entrepreneurs and other priority groups. Officials told the meeting about the proposed Ubharta Naujawan scheme for youth, Agricultural Solarization, Khushhal Kisan and industrial financing packages. Progress on the two-phase home solarization programme, which also covers the merged districts, was also reviewed.
Student scooter financing: what the governor ordered
Governor Kundi said students enrolled in universities and other educational institutions should be able to obtain scooters on easy instalments through a dedicated financing product.
Providing modern amenities to the student community, he stressed, remains one of the government’s clear priorities.
He directed the bank’s management to finalise the design of the student scooter scheme, including eligibility criteria, the instalment structure and repayment terms, and to place a concrete proposal before the next meeting.
The move would give students in Khyber Pakhtunkhwa a way to buy two-wheelers without paying the full price at once. In Islamabad, free scooty training has already been offered to women, showing that two-wheeler mobility for students and young women is now on the agenda in more than one province.
Solar power for farms and homes
The governor described agriculture as the backbone of the national economy and the province’s development, and said sustained financial support for farmers was essential.
Prolonged electricity load-shedding in the province has made the conversion of agricultural tube-wells to solar power inevitable, he noted. The Bank of Khyber must therefore play an active role in facilitating that transition.
The meeting reviewed the two-phase home solarization programme, which covers the merged districts as well. Officials presented updates on the bank’s overall performance and outlined timelines for the launch of the student scooter scheme and the mobile-app upgrade.
Digital banking upgrade on a fast track
Turning to digital services, the governor instructed bank officials to upgrade the existing mobile banking application at the earliest. He said customers across Khyber Pakhtunkhwa expected faster transactions, greater ease of use and more reliable digital channels, and the bank must respond without delay.
Parallel work on the mobile-application upgrade should proceed on a fast-track basis so that improved digital services become available to customers as soon as possible, he said.
The meeting also examined ways to expand the bank’s outreach in the merged districts and to ensure new financing products reach the intended beneficiaries with minimum paperwork and maximum transparency.
Governor Kundi said the Bank of Khyber should function as a key instrument of the provincial government’s socio-economic agenda. By linking credit to education, agriculture and clean energy, he said, the bank can improve mobility for students, raise farm productivity and reduce the province’s dependence on costly grid electricity.
He expressed satisfaction with the bank’s recent initiatives and urged all stakeholders to keep close coordination so that the proposed schemes move from planning to implementation without unnecessary delay.
The governor has been active on the province’s economic agenda in recent weeks. He recently backed a Rs40 billion security package for the Khyber Pakhtunkhwa police and pressed for investment revival through the SIFC. At the federal level, a Chromebook scheme for 500,000 students is under way.
The Express Tribune reported the meeting on Thursday.
Frequently asked questions
What is the student scooter financing scheme?
It is a proposed Bank of Khyber product that would let university and college students in Khyber Pakhtunkhwa buy scooters on easy instalments, instead of paying the full price at once.
Which bank will offer the scooter financing?
The Bank of Khyber, on the directions of Khyber Pakhtunkhwa Governor Faisal Karim Kundi. The bank must finalise the scheme’s design and present a proposal at the next meeting.
What other schemes did the meeting discuss?
The meeting discussed the Ubharta Naujawan scheme for youth, Agricultural Solarization, Khushhal Kisan, industrial financing and a two-phase home solarization programme covering the merged districts.
When will the scooter scheme launch?
No launch date has been announced. The bank’s management must first finalise the eligibility criteria, instalment structure and repayment terms and place a proposal before the next meeting.
