LAHORE: The operations of 118 public cattle markets in Punjab, such as animal levy, parking fee and allied services, were auctioned for Rs5.56 billion for the fiscal year 2023-24, which is Rs1.84 billion more than the ongoing financial year 2022-23 that will end on June 30.
According to a senior official, Lahore’s Shahpur Kanjran, Punjab’s largest cattle market, outsourced all its services for Rs1.11bn.
“This year, we attracted the participation of around 850 bidders, which is 350 more than last year, in the entire bidding process that lasted for three days (May 5 to 8) here in Lahore,” said Punjab Cattle Market Management and Development Company Chief Executive Officer Abdul Latif Khan in a conversation with Dawn on Tuesday.
“To ensure transparency, the bidding process was kept live on social media. A few news channels also showed live coverage of the bidding,” he added, mentioning that Rs5.56bn is a considerable amount of money earned through these auctions.
“And it’s Rs1.84bn more than last year.”
According to him, four cattle markets of Lahore division were auctioned for over Rs1.32bn. The highest bid given and accepted for Shahpur Kanjran cattle market was nearly Rs1.11bn. The 15 cattle markets of Faisalabad division were auctioned for over Rs536 million, which was over Rs190m more than the last year. The 15 cattle markets in Multan division were auctioned for over Rs1.2bn, which was Rs423m more than the last year. Sargodha division’s 14 cattle markets were auctioned for over Rs550m, which was Rs186m more than the last year.
Five cattle markets in the Gujranwala division were auctioned for Rs424m, around Rs191m more than the last year. The 17 cattle markets of Sahiwal division were auctioned for Rs327m, over Rs148m more than the last year. Dera Ghazi Khan division’s 22 cattle markets were outsourced for over Rs561m – Rs203.5m more than the last year.
The 19 cattle markets of Bahawalpur division were auctioned for around Rs568m – Rs251m more than the last year. Similarly, Rawalpindi division’s seven markets were auctioned for nearly Rs261m, Rs83m more than the last year.
INVESTMENT: Lahore Commissioner Muhammad Ali Randhawa on Tuesday called for providing full support to the investors in order to facilitate ease of doing business in Lahore.
“The LDA (Lahore Development Authority) must provide special support to investors on the lines of the private sector by facilitating the acquisition of necessary documentation related to commercial properties,” he said at a meeting.
He stated that the LDA has plans to provide attractive investment opportunities in the provincial capital for investors. The authority would also take initiatives along the lines of the private sector to enhance resource generation.
Randhawa also suggested that the bidding process for the auctioning of plots and other commercial properties should be developed on modern lines.
“Online bidding should also be adopted along with the traditional bidding process,” he added.
GRID STATION: The 132 kV grid station was energized at Quaid-i-Azam Business Park of the Punjab Industrial Estates Development and Management Company (PIEDMC) on Tuesday.
The operation of the grid station would boost industrial activity.
“In addition, three more transformers are being added to this grid station very soon, which will increase its capacity to 128 megawatts. Quaid-i-Azam Business Park’s own grid station will be managed by the PIEDMC, while Lesco will be responsible for its maintenance and operation,” said PIEDMC head Ali Muazzam Syed after visiting the grid station site.
“With the completion of this grid station, power supply has become abundant in Quaid-i-Azam Business Park, which will not only facilitate existing industries but also efficiently meet the requirements of new industries,” he added.
Published in Dawn, May 10th, 2023