As per recent reports, the Punjab government has decided to introduce a policy in the Punjab Motor Vehicle Transaction License 2015, whereby an unauthorized dealer with less than ten years of experience in the market will have to pay double the security fee than that of an authorized dealer. An unauthorized dealer with over ten years of experience will have to pay the same security fee as that of an authorized dealer.
This step was reportedly taken in order to bring the maximum number of dealers into the tax net and to curb illegal transactions within the regional automotive market.
The decision was made by the provincial government in the thirty-seventh cabinet meeting that was convened by the Chief Minister of Punjab, Sardar Usman Buzdar, and attended by provincial ministers, advisers, and special assistants.
Also on the agenda was the plan to bring agricultural lands and other types of areas surrounding the national highways, provincial highways, and motorways into the property tax net under the Punjab Finance Act, 2019.
The Government of Punjab reportedly plans to maximize the revenue and reinvest it into the economic, social, and infrastructural development of the province.
Last week, Buzdar formally approved the proposed plan for the running of Green Electric Buses across Lahore. He added that the buses will run on six routes which will collectively be 103 kilometers long and that the buses will soon become functional in the other cities of Punjab under a public-private partnership.