24-05-2025
- Business
- Business Recorder
‘Digital cattle market' auctions conducted across Punjab
LAHORE: The Punjab Cattle Market Management and Development Company (PCMMDC), in collaboration with the Punjab Information Technology Board (PITB), conducted digital cattle market auctions across Punjab from May 21 to May 23; this initiative resulted in a record-breaking revenue of Rs 15.35 billion over three days.
According to PITB, this marks the first time in Punjab's history that 112 cattle markets held auctions exclusively through a digital system, receiving over 2,788 bids. The Multan division led in revenue generation, contributing Rs 2.63 billion, followed by Lahore and Bahawalpur divisions with Rs 2.04 billion and Rs 2.02 billion, respectively.
This achievement aligns with Chief Minister Maryam Nawaz's vision to modernize governance, enhance transparency, and promote economic growth through digital transformation.
Commenting on the success of the digital cattle auctions, PCMMDC Chairman Ibrahim Tariq Shafi stated that this unprecedented outcome reflects PCMMDC's commitment to reforming the cattle trade sector through digital innovation. 'From day one, our mission has been to eliminate inefficiencies, ensure full transparency, and optimize revenue collection.
With the strong support of PITB and the adoption of advanced digital tools, we have achieved these goals on an unprecedented scale. We are dedicated to continuing this transformation across all cattle markets in Punjab to guarantee ease, fairness, and sustainable growth for all stakeholders,' he added.
The auctions were executed using PITB's e-Auction System, a state-of-the-art platform that facilitated end-to-end digital auctioning. Seamless and secure payments were processed through PayZen, PITB's homegrown digital payment gateway, which ensured full transparency and real-time accountability in all transactions.
PITB Chairman Faisal Yousaf, during a progress review meeting, praised the collaboration and its results.
'The implementation of our e-Auction System and PayZen Payment Gateway in cattle markets has not only enhanced transparency but also produced measurable impacts on governance and revenue collection. This achievement emphasizes Punjab's commitment to adopting technology for public welfare and economic reform.'
Copyright Business Recorder, 2025
