Punjab has introduced a new policy requiring owners of imported vehicles to wait one year before transferring their vehicles to another person.
Under the new rules, imported vehicles will initially be registered only in the name of the person who imported them. The vehicle can only be transferred to another buyer after one year from the date of registration.
Previously, vehicles imported under personal, gift and residence schemes could be transferred immediately after registration. The new policy has ended this practice.
The Excise Department has also introduced a system-based check to enforce the requirement. Ownership transfers will automatically remain blocked until the vehicle completes the mandatory one-year period.
Officials said imported vehicles account for around 20% of total vehicle registrations across Punjab. They added that the new restriction could have a significant impact on the department’s revenue.
