The Punjab government has earned revenue of around Rs two million through open auction of attractive registration marks of LXZ series here on Thursday.
The auction took place at the office of Director Excise and Taxation Region-C at Farid Kot House under the supervision of Motor Registering Authority (MRA) Lahore Ahmed Saeed and Superintendent Excise & Taxation Department Chaudhry Mohammad Salim.
According to sources in MRA's office, out of a total of 136 attractive registration marks of LXZ series, 122 were contested.
The highest bid of Rs 260,000 was received for LXZ-1, which is a record, the sources claimed.
The second highest bid of Rs 112,000 came for LXZ-786 while LXZ-5 fetched Rs 55,000 and LXZ-7 Rs 40,000.
The minimum reserved price was Rs 5,000 while maximum was Rs 7,500. All the successful bidders deposited the amount on the spot.
Every bidder deposited the security fee of Rs 5,000 before taking part in the auction process.
According to the sources, the excise & taxation department has fetched over Rs 35 million only from Lahore through open auction of attractive registration marks of LR to LXZ series.
The sitting Secretary Excise & Taxation Punjab Sami Saeed has adopted stringent measures to ensure transparency in auction process.
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