Daily Times

Since being entrusted to the Punjab Model Bazaar Management Company (PMBMC) in 2016, Model Bazaars have become a cornerstone of accessible, affordable public markets across Punjab.

Under the stewardship of CEO Naveed Rafaqat Ahmad, these bazaars have emerged as critical players in both consumer welfare and economic empowerment. With a record-breaking footfall exceeding 60 million visitors, Model Bazaars have cemented their reputation as highly successful public spaces, providing essential goods at competitive prices and contributing to the local economy.

Unique in its financial independence, PMBMC has developed a self-sustaining business model for Model Bazaars, covering all operational expenses without government subsidies. Operating as a public sector company under Section 42 of the Companies Ordinance 1984/Companies Act 2017, PMBMC generates revenue through affordable rental spaces, allowing it to reinvest in market facilities and expansion. Currently, more than 750 employees work across the bazaars, supported solely by internally generated revenue.

The innovative funding approach has drawn attention as a model for self-reliant public service projects, with other provinces considering similar frameworks. This financial independence reflects the strength of PMBMC’s strategic planning, positioning Model Bazaars as a successful, financially autonomous initiative within Pakistan’s public sector landscape. A critical factor in the Model Bazaars’ success is its consumer-centric business model, which guarantees access to daily-use items at prices consistently lower than government-notified rates.

In an era where economic challenges often hinder affordability, Model Bazaars stand out for their dedication to consumer welfare.

During peak inflation periods, for instance, PMBMC provided household essentials at prices 10-20 percent below market rates, easing the financial strain on consumers. This price advantage has turned Model Bazaars into go-to destinations for everyday needs, especially for low- and middle-income families. To further increase convenience, PMBMC introduced a free doorstep delivery service, ensuring that goods reach households without added costs. This unique service delivers daily essentials at the same below-notified rates, giving customers both cost savings and accessibility. These initiatives have fostered widespread public trust and solidified Model Bazaars as an essential public service, regularly highlighted in media and recognized for outstanding community support.

Initially proposed as a 10-bazaar expansion at Rs 2.5 billion, PMBMC’s project grew to encompass 13 locations after state land was made available free of charge. By optimizing this valuable resource, Naveed Rafaqat Ahmad proposed a revised budget of Rs 3.4331 billion to the P&D Board, which endorsed the expanded plan. This development will bring Model Bazaars to districts previously underserved, offering residents affordable essentials in a well-structured, safe environment.

The planned bazaars, ranging from 60 to 150 outlets depending on district demographics, will feature food courts, family-friendly recreational areas, and free parking. Each facility is designed to operate as a comprehensive marketplace, making everyday goods and social spaces accessible to all residents. According to PMBMC projections, the 13 new bazaars will be completed within 6-8 months, creating a far-reaching impact across the province.

A hallmark of the Model Bazaar initiative is its commitment to small and medium-sized enterprises (SMEs) and women’s economic participation. Recognizing the potential of these groups, PMBMC has allocated approximately 40 percent of spaces for SMEs, with rental fees set at an affordable range of Rs 7,500 to 10,000, adjusted by location.

A dedicated women’s empowerment package further strengthens this vision, offering a 50 percent rent discount and reserved spaces for women entrepreneurs. This policy aims to boost women-led businesses, helping them to establish and grow within a secure, supportive marketplace. By providing these opportunities, Model Bazaars have become inclusive platforms for economic growth, supporting around 1,200 women entrepreneurs to date.

PMBMC projects that the 13 new bazaars will generate approximately 8,500 direct jobs, significantly benefiting local economies. The employment impact spans from market vendors and maintenance staff to security personnel, all contributing to local income and family stability. These jobs are expected to infuse an estimated Rs 200 million annually into local economies, further underlining Model Bazaars’ role in regional economic development.

PMBMC has built a solid reputation for accountability through transparent governance practices, regular audits, and community engagement. The company’s commitment to clear, audited processes ensures that funds are responsibly managed and operations align with public interest. This emphasis on transparency has earned PMBMC accolades, reinforcing public trust and contributing to Model Bazaars’ success as a distinguished organization.

Key figures like PMBMC Chairman and MNA Afzal Khokhar and Chief Minister Punjab, Maryam Nawaz Sharif, have been instrumental in championing the Model Bazaar initiative. Their ongoing support and guidance have enabled PMBMC to secure resources, expand its scope, and fulfil the vision of providing maximum public relief. Through their visionary approach, PMBMC has positioned itself as a reliable and forward-looking public sector company, dedicated to improving the quality of life for Punjab’s residents.

As PMBMC continues to expand Model Bazaars, the initiative sets a high standard for accessible, inclusive public markets that uplift local economies and empower communities. In an era where economic challenges often hinder affordability, Model Bazaars stand out for their dedication to consumer welfare and self-sustainability. The success of PMBMC’s model underscores the power of innovative public sector approaches, demonstrating that with strategic planning, transparency, and community focus, government-led projects can thrive as economically viable, socially beneficial entities.

The writer is a practising doctor with more interest in socio-political issues. He can be reached at drzainalibhatti@gmail.com