Sir if you really live in London you should have known that students under the age of 19 travel free of cost. The price you mentioned is for those who are too lazy to apply for freedom pass or would stop studying for any reason. As far as I know 99% of the people in UK would continue their studies until the age of 19 at least --- and if you are a student, you get the oyster card form from any post office or station and take it to your college... They stamp it - you apply to the TFL and you get a free pass until the age of 19. it's as simple... no headache and everybody qualifies for it...
The rule of 11-15 is also very similar to 16-18 card - take the form, fill it - apply - get the freedom pass within 5-10 days... everybody is eligible
Check this link:
16-18 | Transport for London
You will get 30% discount even when you are over 19 or above... If you are a student of any age - you may be eligible to get 30% discount
Sir TFL was just an example... London underground is the oldest underground network in the world. It was built well before the independence of Pakistan and Modern India.. and when the black people were brought in to dig the well for them to construct modern day underground network. So they have a reason to give subsidy in most places - Still I am not sure if TFL is running in profit or not --- You can check about other countries and you will get the point since London was just a mere example. It doesn't really matter if the transportation company is making profit or acceptable losses since the amount you will be saving in natural reserves might be much more higher than transportation subsidies...
Of course I am not justifying the Punjab government... They are corrupt and it's not an open secret --- I am only talking about this project - if the government does 10 bad things and 2 good things --- I would appreciate those two...