June 30 Last Date For Transfer Of Vehicles With Open Letters

RAWALPINDI, (UrduPoint / Pakistan Point News - 24th Jun, 2018 ) :June 30 is be last date to transfer ownership of vehicles with open letters as from July 1, the Punjab Excise Department (PED) will introduce a new system under which the buyers and sellers will have to visit the excise offices for biometric verification.

According to an Excise and Taxation Department spokesman, the owners should get their vehicles registered in their Names.

He said people mostly used open transfer letters to buy and sale vehicles. The open transfer letters, which did not have any date and particulars of the buyer, were considered an easy way to transfer ownership without paying any charges or taxes, and that was why the open letters had been declared illegal, he added.

He said the open letters would become useless after June 30.

From July 1, it would be compulsory for both buyers and sellers to physically visit the excise offices to transfer the ownership of vehicles, he added.

The spokesman said computerized transfer deeds would now be used instead of manual ones. The introduction of new system would facilitate the public and save their time consumed in manual filling of the forms, he added.

He said the computerised deed would have complete information about the buyers, sellers and the vehicles. The buyers and sellers would just have to sign the forms and put their thumbprints on them. Biometric verification of both the buyers and sellers would be carried out, besides their photographs would also be taken, he added.