The auctioning of 118 public cattle markets in Punjab has brought in an amazing figure of Rs. 5.56 billion for the forthcoming fiscal year of 2023-24. This sum represents a huge rise of Rs. 1.84 billion over the current fiscal year, which ends on 30 June. Punjab’s largest cattle market, located in Lahore’s Shahpur Kanjran, contracted all of its services for a whopping Rs. 1.11 billion.

As reported by Abdul Latif Khan, Chief Executive Officer (CEO) of the Punjab Cattle Market Management and Development Company, this year’s bidding procedure was more successful than the previous year, garnering roughly 850 bidders, 350 more than last year.

The bidding procedure lasted three days, from 5 to 8 May, and was aired live on social media and select news stations to ensure transparency.

Khan noted that the sum gained through these auctions was significant, representing a significant rise of Rs. 1.84 billion over the previous year. The Lahore division’s four cattle markets were auctioned off for more than Rs. 1.32 billion, with the highest bid of over Rs. 1.11 billion accepted for the Shahpur Kanjran livestock market.

The 15 cattle markets in the divisions of Faisalabad, Multan, Sargodha, Gujranwala, Sahiwal, Dera Ghazi Khan, Bahawalpur, and Rawalpindi were auctioned off for more than Rs. 1.2 billion. The 19 cattle markets in the Bahawalpur and Rawalpindi districts were auctioned for about Rs. 568 million, a Rs. 251 million increase over the previous year. Rawalpindi’s seven marketplaces were auctioned off for almost Rs. 261 million.

Source: Pro Pakistani