Today, I made the trip to the driving license office at Liberty market to RENEW my expired license.
The process was simple and excluding the waiting time which was about 20 minutes, the actual process only took about 5 minutes.
There is no sign or eye test. You fill out a form titled FORM E, attach two passport sized photographs, and a copy of your CNIC card, along with your original drivers license. You hand these documents over to the officer who then asks you to fill out a ledger on the desk with your details, and does the necessary work on his computer to update the system.
The officer will let you know how much the cost for the renewal is, you will pay cash, and by the time you walk out the door, their system is already updated, and it will show that your license has been renewed on the online City Traffic Police DLIMS system at http://dlims.punjab.gov.pk/
The actual card I was told I will receive in 7-10 days by TCS.