Punjab Motor Registration Authority (PMRA) of Punjab’s Excise and Taxation Department (ETD) has been charging motorists an excess amount of Rs. 360 million in transfer deed charges annually, Tribune has reported.
An ownership transfer deed, which is mandatory for everyone seeking a change in the ownership of a vehicle, is only available at the PMRA and costs a motorist Rs. 300.
However, PMRA gets transfer deeds printed from the Punjab Printing Press (PPP) for Rs. 48 each.
According to PMRA figures, 1.2 million transfer deeds are sold annually which means PMRA earns Rs. 360 million from these.
Meanwhile, PMRA pays PPP Rs. 58 million for getting 1.2 million transfer deeds printed annually.
As a result, PMRA is making Rs. 302 million annually by selling transfer deeds costing Rs. 48 for Rs. 300.
While speaking on the matter, a spokesperson for ETD said that all earnings from the sale of transfer deeds are kept in a revolving fund and are spent on different projects of the ETD that will ultimately benefit the people.
The spokesperson added that the earnings do not go to anyone but are deposited in the state treasury that is audited annually.