LAHORE – The government of Punjab has made changes in automobile registration in the country's most populated region in Budget 2024-25.
The amendments in registration of cars and bikes were made nearly after seventy years.
Registration costs for motorbikes and scooties fixed at Rs. 1,500 to standardize fees and streamline the registration process for smaller vehicles whereas a new annual 10pc charge is now imposed for the first time for any vehicle, motorbike, or scooter registration transfer within a decade, adding an annual fee to ownership transfers during this period.
Cars under 1,000cc will have to pay registration fee of Rs. 20,000 to the Excise Department. while transfers within the first decade will incur an annual 10pc fee.
For vehicles with engines up to 2,000cc, the registration fee will equate to 0.02pc of the vehicle's purchase price, aligning costs more closely with market values through a proportionate fee structure based on the vehicle's worth.
Vehicles over 2,000cc will have to pay a registration charge equivalent to 0.03pc of their purchase price.