Latest news with #PunjabCattleMarketManagementandDevelopmentCompany
Business Recorder
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
Express Tribune
21-05-2025
- Business
- Express Tribune
Cattle market contracts fetch Rs6.59b
The online auctions were held on Wednesday, with 950 bids submitted for 28 markets across the three divisions. The competitive bidding process drew interest from a broad range of private contractors and firms and was conducted through a transparent online platform monitored by the Punjab Cattle Market Management and Development Company (PCMMDC) under the supervision of the provincial local government and community development department. Among the three divisions, Multan recorded the highest revenue from the auctions, generating Rs2.63 billion from 10 cattle markets. Lahore raised Rs2.03 billion and Faisalabad Rs1.91 billion in successful bids. The total figure amounted to Rs6.59 billion, according to the official bidding record. The largest bid was placed for the Model Cattle Market in Jungle Jaswant Garh in Multan, which fetched Rs1.57 billion. Close behind was the Model Cattle Market in Jhang, awarded for Rs1.16 billion. In Lahore, the Model Cattle Market in Shahpur Kanjran drew the highest bid, securing the contract for Rs1.5 billion. Other notable bids included the Model Cattle Market in Sheikhupura at Rs486.78 million, Cattle Market Luddan at Rs710 million and Model Cattle Market Niamoana at Rs140.7 million. A number of smaller markets, including Chund Bharwana, Tandlianwala, Gaggoo and Machiwal, also drew healthy bids ranging between Rs14 million and Rs50 million. Lahore division's five cattle markets attracted 253 bids, Multan's 10 markets 240 bids and Faisalabad's 13 markets 457 bids - pushing the overall participation to 950 bids. Contractors ranged from major construction firms to regional operators.
Express Tribune
06-05-2025
- Business
- Express Tribune
Online auction system for cattle markets ready
The Punjab Local Government Department has launched an e-auction system for the leasing of cattle markets across the province ahead of Eidul Azha. The Punjab Cattle Market Management and Development Company (PCMMDC) will oversee the implementation of the system, which will bring all 112 registered cattle markets in the province under a unified digital auction platform. According to a spokesperson for the department, the move aims to ensure transparency, curb corruption and streamline the auction process through digital means. Online registration for contractors is under way.
