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KARACHI: Sindh held its inaugural premium number plate auction, setting a record with the most expensive registration plate “A1” sold for Rs. 100 million.
During the auction ceremony, the premium number plate ‘7’ was sold for forty-six million rupees, with Muzmal Kareem making the highest bid. Mukesh Chawla presented the certificate of ownership to Muzmal Kareem.
The premium number plate ‘786’ was purchased by businessman Sorosh for 26.5 million rupees, and Sindh Energy Minister Nasir Shah handed over the ownership certificate.
The excise department auctioned the premium number plate ‘A1′ for a staggering 10 crore rupees (100 million rupees). Muzmal Kareem again placed the highest bid and received the ownership certificate from Senior Minister Sindh Sharjeel Memon.
Speaking at the event, Sharjeel Memon highlighted that, like gold and other assets, premium number plates are also a form of investment. Auction winners can resell their plates, and the funds raised from the auction will support flood victims’ housing.