Record-Breaking Registration
The Punjab Excise and Taxation Department has registered the most expensive vehicle in its history. The luxury car, a Range Rover owned by businessman Ahmed Waqas from Gujranwala, is valued at 176 million Pakistani rupees (approximately USD 580,000).
According to officials, the registration fee alone amounted to 9.44 million rupees, setting a new departmental record. Only last month, the previous record was set when another luxury vehicle was registered with a fee of 9.1 million rupees.
The owner secured the number plate “AWA-089”, a personalized sequence reflecting his initials.
Lahore Motor Branch Leads Revenue Collection
Director Excise Shahid Gilani confirmed that the Lahore Motor Branch once again outperformed all other regional offices in revenue collection.
During the first two months of the current financial year, the Lahore region generated more than 5 billion rupees in revenue. A significant share of this came from the registration of high-value vehicles.
Officials say the surge in luxury car registrations is playing a crucial role in helping the department meet its annual revenue targets.
A Growing Market for Luxury Cars
The registration highlights a broader trend: an increasing appetite for luxury vehicles among wealthy Pakistanis.
Despite rising inflation, currency depreciation, and high fuel prices, sales of imported high-end vehicles such as Range Rovers, Lexus SUVs, and Mercedes-Benz models continue to grow. Industry experts attribute this to:
Rising wealth concentration among Pakistan’s elite.
Status symbol value attached to luxury cars.
Limited investment options, pushing some wealthy individuals towards high-end assets.
Data from the Pakistan Automotive Manufacturers Association (PAMA) shows that while overall car sales fell by more than 50% last year due to economic challenges, the luxury segment remained resilient.
Economic Contrasts
The record-breaking registration also underscores the stark economic contrasts in Pakistan.
Millions of citizens face a cost-of-living crisis, with headline inflation averaging around 27% in 2023. The price of basic food items, energy, and fuel has soared. Yet, the demand for ultra-luxury cars shows little sign of slowing down.
Economists argue that this contrast reflects Pakistan’s dual-track economy, where a small but affluent class continues to spend on luxury goods, while the majority struggles with basic necessities.
Revenue Significance for the Government
High-value car registrations are more than just headlines—they are also a significant source of government revenue.
The Excise Department depends heavily on vehicle registration and token tax collections. Large contributions from luxury car owners ease fiscal pressures and provide much-needed funds for provincial development projects.
Director Gilani emphasized that luxury vehicle owners are “contributing directly to the state’s revenue base,” adding that such registrations are critical at a time when the government faces a growing budget deficit.
Looking Ahead
While the new record highlights the strength of the luxury market, it also raises important questions.
Should the government introduce higher luxury taxes on imported vehicles to boost revenue further? Or should it focus on policies that make car ownership more affordable for the middle class?
For now, Ahmed Waqas’s Range Rover stands as a symbol of wealth and prestige—and a reminder of the country’s widening economic divide.
