RAWALPINDI: March 15 will be last date to transfer ownership of vehicles with open letters as from March 16 the Punjab Excise Department (PED) will introduce a new system under which the buyers and sellers will have to visit the excise offices for bio metric verification.
According to Motor Registration Authority-II, Sohail Sabir, the owners using the vehicles under the open letters have been warned of action if the vehicles registration title is not transferred in their names.
An Excise and Taxation Department spokesman informed that the owners should get their vehicles registered in their names else the registration may be cancelled and the vehicles would be impounded.
He said the 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 Mar 15.
From Mar 16, 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.
Published in The Express Tribune, March 10th, 2019.