The Cabinet of Punjab has adopted measures to ease the transfer of vehicle ownership. The changes were made after discussions with the Motor Dealers Association in an effort to simplify the procedure for selling or trading in a vehicle. A representative from the Excise Department has said that this modification will facilitate the transfer of vehicles more quickly and reduce paperwork.
The agent clarified that following the deal, the seller is the only person eligible to submit an application for biometric transfer. Within 30 days of making payment, the buyer must submit to biometric verification. A monthly penalty of Rs. 10,000 will be assessed for noncompliance during the term.
Vehicle now easy to transfer
The alterations also permit more latitude in transfer documents. Transferring ownership requires both the inheritance certificate and the family certificate from the National Database and Registration Authority (NADRA). The Excise Department has instituted fines to ensure compliance with the new regulations.
After 120 days, a new verification and the full penalty will be necessary if biometric verification has not been completed. According to the spokesperson, this measure would also contribute to guaranteeing operational efficiency.
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