The excise and taxation department will hold open auction of attractive registration marks of newly launched 'LZ' series here in the office of Director Excise & Taxation Region-C Lahore on Wednesday (July 07).
The reserved price for LZ-1 is Rs 10,000, LZ-7 and LZ-786 Rs 7,500 each and Rs 5,000 for rest of the 133 attractive registration marks.
Sources said that existing auction policy of the government remained successful, as huge amount of over Rs 45 million was deposited in the national exchequer since the launch of existing policy. Under the auction policy, successful bidders are required to deposit the amount on the spot. The owner of the vehicle will be required to submit the papers for registration of vehicles within two months of the date of auction.
The owner will be allowed to display the registration mark only after proper registration of the vehicle and after issuance of valid registration certificate.
It may be mentioned that in the auction of attractive registration marks of LRZ series, an amount of around Rs two million was recovered.
Moreover, the sealed bids for three digit marks will be opened on Thursday (July 08). The minimum reserved price for participating in sealed bidding is Rs 1000.
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