E-Auction Punjab
What is E-auction Punjab
An E-auction or electronic auction is a digital process in which concerned buyers and sellers come together online to bid on different products and services. This online process enables participants to bid from anywhere, making the entire process accessible and fast.
The government of Punjab under the Excise and Taxation Department and MTMIS introduced an online auction system for bidding on vehicle number plates. Through E-auctions, buyers and sellers bid on special and unique numbers for their bikes and cars. Interested vehicle owners can buy attractive plate numbers for their cars and bikes.
Do You Know
You can find the latest E-auction Punjab schedule, Re-schedule, and E-auction winners with all upcoming auction dates and details from the official website of the Excise and Taxation of Punjab.
How to E-auction
Step 1 : User Registration and OTP Verification Process:
Firstly, the user registers through an application or portal by entering mandatory personal information like CNIC number, email address, and phone number. Without this information, users cannot register themselves. Once the user enters signup details, an OTP is sent to the user’s phone number or email address. The OTP number is entered to validate the registration.
Step 2 : User Login
Once the registration is completed the user can open the app by entering login details.
Step 3 : Number selection
On the E-auction tab of your mobile app or web portal select the desired number by entering your vehicle chassis number carefully then press the button. Once the chassis number is entered it cannot change. After submitting the vehicle chassis number, the success status of the application appears on your screen. The user can view his submission application in the “My application” section.
Step 4 : Payment and authorization
Through SMS. You will receive a PSID (personal safety identification number) for reserve value and participation fees of 100 PKR. The user must pay this fee through ATM/mobile banking/bank. After successful payment of PSID, your application will be approved. Now you can join bidding when the auction starts.
Benefits of E-Auction
An auction system for bidding on vehicle registration offers many benefits. Here are some key advantages.
Transparency and Fairness
The E-auction in Punjab is a transparent system. This system makes a transparent bidding process and prevents favoritism or any manipulation.
More Accessibility
This is an easily accessible online system available through both a mobile app and a web portal. SO, People from anywhere in Punjab can participate conveniently in the bidding process.
Quick and convenient
Users participating in the e-auction can view real-time updates throughout the bidding process. They can access the auction schedule and a list of E-auction winners.
Higher revenue
E-auction created a competitive bidding environment, which encourages people to offer higher prices to win. This boosts the final sale amount and helps to support the government to earn more revenue.
Cost Efficiency
All this is online which decreases the administrative cost There is no need for a physical location for the auction.
Conclusion
Punjab’s e-auction system has greatly modernized traditional auctions. The system is transparent, more efficient, and easy to access. This system offers lower administrative costs and increases revenue for the government of Punjab. This benefits the government and bidders, leading the way in digital transformation.
