LAHORE: The Punjab Model Bazaar Management Company (PMBMC) is undergoing a structural change as the Standing Cabinet Committee on Legislative Business has approved in principle the conversion of the company into the Punjab Sahulat Bazaars Authority (PSBA).

The standing cabinet committee has recommended placing the proposal before the provincial cabinet for formal approval and subsequent presentation to the Punjab Assembly for enactment into law.

The committee says the decision to convert company into an authority aims at addressing the operational and structural limitations of the company model and establish an authority mode that better aligns with the objectives of public welfare by providing affordable goods to millions of citizens.

Under the authority structure, the organization will gain enhanced governance, resource optimization, and statutory backing, ensuring more streamlined operations and increased accountability.

PMBMC Chief Executive Officer Naveed Rafaqat Ahmad, who oversaw the proposal preparation, told Dawn the company had been operating 36 Model Bazaars across 25 districts, serving 50 million customers annually by offering essential commodities at prices 10-30% lower than market rates. Despite its success, he said, the company model presented certain challenges, including land ownership issues and the inability to fully leverage government resources under the prevailing legal framework. “The authority mode will address these challenges comprehensively,” he said.

The cabinet committee says the statutory framework would resolve land allocation and ownership issues besides enabling the establishment of more bazaars without bureaucratic delays. The authority structure would also allow a more transparent and accountable governance model, crucial for an organization managing a large network of public welfare projects. It says

It says the authority mode would help introduce stricter checks and balances, ensuring that funds are used efficiently and decision-making processes are transparent, which is critical for maintaining public trust and ensuring long-term viability of the initiative.

Published in Dawn, December 16th, 2024