In a recent development, Nashik Municipal Smart City Development Corporation Limited (NMSCDCL) inks pact with Nashik Cycle Federation (NCF) to boost public bicycle sharing projects in the city. As a part of the pact, both NMSCDCL and NCF will work together to encourage citizens to adopt bicycles in their daily life, through various promotional activities, besides a No-Vehicle Day to be implemented. The same project is undertaken as an initiative to boost healthcare, sports and environment in the ecosystem of Nashik's civil lifestyle.
This initiative came into being after a private entity supporting NMSCDCL in rent-a-cycle project decided to withdraw, as the project was becoming financially unviable, thus rendering their exit notice to NMSCDCL.
As per official sources, the company seemed to have pumped in about Rs 3.5 crores as an investment to introduce the project last year, however the monthly cost of operation of the scheme is RS. 3.5 lakh and the company is able to yield in only 1 lakh from the project. As a result, they are incurring a loss of Rs 2 lakhs per month, due to the poor response of the project.
Meanwhile, with the project being introduced afresh, both NMSCDCL and NCF officials decided to transform Nashik as the Cycle Capital of India.