How PMBMC Created Jobs and Boosted Public Welfare Across Punjab

Naveed Rafaqat Ahmad, a Chartered Accountant from England and Wales, Certified Director under SECP regulations, and Certified Business Analyst from the UK, has over 15 years of experience in corporate restructuring, business model development, and involvement in World Bank projects.

His career has seen him collaborate with multinational firms, refining his expertise in driving organisational change and achieving financial sustainability. In addition to his leadership roles, he has written extensively for top-tier newspapers, sharing insights on public sector innovation, governance, and business transformation.

Since joining the Punjab Model Bazaar Management Company (PMBMC) as Chief Financial Officer (CFO) and Company Secretary in 2016, and later becoming its CEO in 2024, Naveed has led a remarkable turnaround of what was previously seen as an underperforming public initiative. His visionary approach and strategic reforms have transformed the Model Bazaars into a self-sustaining success story within the public sector.

When he first took charge, Model Bazaars were often dismissed as a “white elephant” – a project riddled with inefficiencies, failing to generate revenue and falling short of its public welfare objectives. Recognising the challenge, Naveed spearheaded a comprehensive restructuring of the organisation, overhauling its operations, reshaping its hierarchy, and introducing new Standard Operating Procedures (SOPs). His innovative business model, based on sustainable revenue generation, public-private partnerships, and enhanced vendor services, helped PMBMC achieve financial self-sufficiency.

Naveed’s leadership has not only revived the organisation but has also earned PMBMC recognition as one of Punjab’s most prominent public sector projects, widely praised for its operational efficiency and focus on public welfare. His efforts in re-engineering the company’s business model and streamlining operations have been recognised through numerous awards and certificates of merit, underscoring his contributions to the sector.

Today, the Model Bazaars stand as a flagship initiative of the Punjab government, known for their financial independence and commitment to public welfare. Naveed’s transformative leadership has breathed new life into a project that was once on the verge of collapse, turning it into a thriving model of public sector success.

In this exclusive interview, Naveed Rafaqat Ahmad reflects on his leadership journey, the business innovations that shaped PMBMC’s revival, and the strategic steps that have placed Model Bazaars at the forefront of public sector excellence.

Interviewer: You were awarded for exceptional performance in 2021, 2022, and 2023, particularly for introducing the Sahulat Stalls and Free Home Delivery. Can you tell us more about these initiatives?

Naveed Rafaqat Ahmad: The launch of the Free Home Delivery service in August 2024 marked a major milestone in expanding PMBMC’s public welfare mission. Recognizing that many households, especially in rural areas, struggled to access Model Bazaars, we introduced a service that delivers essential goods at prices lower than government-notified rates, with no delivery charges.

With PKR 10 million in government startup funds, we procured 72 delivery bikes to serve all 36 Model Bazaars in Punjab. We also developed a user-friendly mobile app for iOS and Android, making it easy for customers to place orders and track deliveries. Within just two months, the service processed 25,541 orders, providing up to 35% price relief compared to market rates, saving the public PKR 11.14 million.

In addition, the Sahulat Stalls initiative brought goods directly from farmers to consumers, cutting out middlemen and offering 21% to 63% savings on essential commodities like potatoes, watermelons, and mangoes. These price reductions were achieved without government subsidies, further enhancing the impact.

Both initiatives have significantly expanded the reach of Model Bazaars and set new benchmarks for public welfare. The Free Home Delivery service and Sahulat Stalls have provided substantial relief to families, empowered farmers with fair compensation, and strengthened our commitment to sustainable, affordable solutions across Punjab.

These efforts earned recognition, including the Prize-Winning Award for Exceptional Performance during Ramzan 2023, showcasing how PMBMC has become a model of public sector innovation and success.

Interviewer: Under your leadership, PMBMC has expanded to 13 new districts. How did you secure funding for this, and what has been the impact?

Naveed Rafaqat Ahmad: Expanding PMBMC into 13 new districts was a strategic move, made possible through a combination of government support and funding. Our ability to secure PKR 2.5 billion in startup funds from the Punjab government was based on the success of our existing bazaars, which consistently provided affordable goods while maintaining financial sustainability.

The Chief Minister fully endorsed our expansion plans, and the Board of Revenue’s allocation of free land in the new districts greatly reduced project costs. This allowed us to focus on building infrastructure and operationalising the new bazaars quickly.

The impact has been transformative. Districts like Muzaffargarh, Okara, and Jhelum, which previously lacked access to affordable goods, now benefit from well-managed bazaars offering essential items at prices significantly lower than market rates. These new Model Bazaars have become critical economic hubs, supporting local vendors and entrepreneurs, while providing real public relief.

The expansion has been recognised by the Punjab government as a flagship public welfare project, and I was awarded the Award of Excellence – Flagship Project Recognition in September 2024. This accolade reflects the impact and credibility of the Model Bazaars, which continue to make a meaningful difference in the lives of millions across the province.

Interviewer: Sustainability and innovation seem to be recurring themes in your work. What role has solarization played in PMBMC’s operations?

Naveed Rafaqat Ahmad: At PMBMC, sustainability and innovation are core to our strategy, exemplified by our solarization project launched in 2023. Starting with the Township Model Bazaar, we installed a 200KW solar power system to decrease reliance on grid electricity, significantly reducing monthly costs that previously accounted for nearly 10% of total electricity bills with a monthly cost of PKR 1.157 million.

This initiative has led to substantial savings, which we reinvested into operations, enhancing both efficiency and vendor satisfaction. Solarization has also improved our resilience against power outages, ensuring a stable supply during load shedding.

As we expand this project to other bazaars, we not only cut costs but also set a standard for environmental responsibility in the public sector. Our commitment to solarization helps ensure that Model Bazaars are self-sustaining, efficient, and environmentally conscious

Interviewer: You’ve received numerous awards and certificates of merit for your exceptional work. What has been the most rewarding part of this journey for you?

Naveed Rafaqat Ahmad: While receiving awards like the Award for Excellence in Financial and Governance Standards and the Chief Minister’s Certificate of Recognition has been an honor, the most fulfilling part of this journey has been seeing the positive impact of our work on millions of lives across Punjab.

A key achievement was our certification from the Pakistan Centre for Philanthropy (PCP) and receiving Not-for-Profit tax-exempt status from the Federal Board of Revenue (FBR). These milestones validate our commitment to financial transparency and public welfare.

Transforming PMBMC from a struggling project into a model for financial sustainability has been a rewarding journey, providing affordable goods and opportunities for small businesses. None of this success would have been possible without the hard work of our team, who share in the vision of making a real difference in people’s lives. The future is about continuing to create sustainable, people-centered solutions for generations to come.

Interviewer: Lastly, what does the future hold for PMBMC and Model Bazaars under your leadership? How do you see Model Bazaars as a platform for SMEs, and what impact do you envision on job creation and economic growth in the coming years?

Naveed Rafaqat Ahmad: The future of PMBMC and Model Bazaars is focused on empowering entrepreneurs and fostering growth for small and medium enterprises (SMEs). These bazaars provide more than just marketplaces—they offer a platform where individuals can start and scale businesses with minimal investment, benefiting from free electricity, security, and a clean environment.

So far, over 60,000 direct and indirect jobs have been created through this model, providing livelihoods to vendors and small business owners across Punjab. By expanding into more districts, we aim to bring these opportunities to underserved communities, helping aspiring entrepreneurs, particularly from low-income backgrounds, overcome barriers to business ownership.

With continued support services, these bazaars are helping to strengthen local economies, foster self-reliance, and drive social and economic mobility. Our vision is to keep growing this initiative, making Model Bazaars vital hubs of innovation and economic empowerment across the province.