ISLAMABAD: The city managers on Thursday auctioned five cattle markets against Rs91.93 million.

This year, the main cattle market of I-15 was auctioned against Rs51.70 million, an increase of 72pc from the last year’s Rs30 million.

Similarly, the Sangjani mandi saw a 200pc increase as it was auctioned against Rs30.10 million against previous year’s Rs10 million. Besides, three other small cattle markets will also be set up in areas near Zia Masjid, Sultana Foundation and Bhara Kahu.

After the massive increase in the auction rates, it is feared that prices of sacrificial animals in the federal capital will witness further hike, causing problems for people intending to fulfil their religious ritual on Eidul Azha.

“The auction was held on Thursday in the office of Directorate of Municipal Administration of Metropolitan Corporation Islamabad (MC) and saw a significant increase in bids compared to last year with a total of five cattle markets receiving bids. The highest bid was made by SS and Co who offered a staggering 51.70 million rupees for the cattle mandi in I-15, a 72.33% increase from last year’s bid of 30.00 million rupees,” said a statement issued by the MCI.

For the cattle market in Sangjani, it said Ehtisham & Co made a bid of Rs30.10 million - a 201pc increase compared to Rs10 million last year.

In addition, Umer Zaman Tanoli made a bid of Rs4.51 million for the cattle mandi at Sultana Foundation, while Mirza Ismail & Co won two bids by offering Rs3.10 million for the cattle market at Zia Masjid and Rs2.55 million for another at Bhara Kahu (these two could not be auctioned last year).

“The MCI is pleased to see the increased interest in the cattle markets and the significant increase in bids. CDA/MCI along with District Administration ICT is committed to providing facilities and services to the citizens of Islamabad for smooth celebration and sale/purchase of sacrificial animals on the occasion of Eid-ul-Azha,” it said.

When contacted, DMA Director Rai Yasir Farhad said, “We have received record highest bids than the rate of pervious year.”

About the possible increase in prices of animals because of the high bid rates, he said, “Our rates of vehicles and animals entry as well as land allocation are the same; there is no increase on our part. But this year, we got good bid rates due to healthy competition,” he said.

Published in Dawn, May 10th, 2024