RAWALPINDI:
The Rawalpindi Cantonment Board (RCB) has recovered Rs115.4 million in the first phase of collections from the Bhatta Ground cattle market contract, while Rs30m in income tax has also been deposited with the federal government.
As per the agreement, RCB is now set to receive Rs25.4 million per month from the contractor during the year.
The contract to run the country’s second largest cattle market after Karachi, spread over 32 acres at Bhatta Ground, was awarded to a larger consortium led by Haji Ismail & Co for Rs305m.
The contract covers both the annual Eidul Azha cattle market and the regular livestock market held every Tuesday and Wednesday throughout the year.
According to the terms of the agreement, the board has already received an advance payment of DKK 90 million. Rs. together with the installment in May of DKK 25.4 million. Rs. In addition, Rs30 million is in Income Tax on the total contract value has been collected through RCB and deposited with the Federal Government.
The contract requires the operator to pay DKK 25.4 million. Rs to Cantonment Board every month between 1st and 22nd.
In May 2027, the contract will be automatically extended for another year with a value increase of 10 percent, raising the total contract amount accordingly.
The contractor will also be responsible for paying the applicable income tax on the revised contract value.
The same scheme will remain in force for three years after which a new procedure for awarding the Bhatta Ground cattle market contract will be formulated in 2029.
Meanwhile, sources said RCB is considering using the venue on the remaining five days of the week when the livestock market is not in operation to host what could be the biggest car trade show in the twin cities of Rawalpindi and Islamabad.
Officials believe that the proposed car market can provide RCB with an additional and significant source of revenue.
