On June 29, 2024, Sindh will hold its first premium number plate auction at the Pearl Continental Hotel in Karachi.
The auction will feature three exclusive categories of number plates: platinum, gold, and silver, offering unique features, with the platinum category allowing for up to three characters starting at Rs. 2 million. The gold category accommodates up to five characters at a base price of Rs. 1 million, while the silver category permits up to seven characters, beginning at Rs. 50,000.
Participants interested in acquiring these premium plates must register beforehand. The auction is expected to attract significant interest from vehicle manufacturing companies, which are also set to sponsor the event. This sponsorship ensures that the provincial government will not incur expenses for the auction.
Sindh Transport Minister Sharjeel Memon emphasized that these number plates are designed to be highly customizable and offer several benefits. They can be personalized, transferred to another vehicle, and inherited. Additionally, they are tied to the owner’s CNIC, making them usable with multiple cars.
Premium number plates were recently approved by the Sindh cabinet. In the fiscal year 2021-22, the existing special number plate system generated Rs. 44 million from 71,645 plates. New premium plates are anticipated to boost this revenue significantly. Memon projected that if just 10% of the motoring public opts for these personalized plates, it could generate Rs. 2-3 billion annually.
The auction also includes bundles, with up to 30% discounts for families and companies. This mirrors Dubai and other countries, aiming to enhance the province’s revenue streams.
In addition to the auction, Memon highlighted the importance of meeting other tax targets and called for an online payment system to streamline tax collection processes. He also issued disciplinary directives for excise department employees who failed to meet their performance targets.
Very informative