Chief Minister of Punjab Mian Muhammad Shahbaz Sharif has approved the summery that was sent by excise regarding the increase in rates of computerized number plates.
According to this summery, rate for new computerised number plates will be charged Rs 750, while Lifetime time token tax has also been increased to Rs 2000 on motor bikes too.
Earlier, government was providing subsidy of Rs 300 on each computerised number plate as applicant had to pay Rs 450 for number plates and now subsidy has been removed on it.
Excise is facing short fall in revenue collection especially in motor vehicle taxes. After the approval of this summery Excise and Taxation may be able to shorten the gap of revenue targets.