Punjab Government has decided to conduct e-auction for cattle fairs in the state on May 29 with a view to fetch maximum revenue besides bringing transparency in the whole process.
Rural Development and Panchayats minister Surjit Singh Rakhra said e-auction will be conducted here at Conference Hall of Punjab Infotech in the premises of Udyog Bhawan. Rakhra said that there were 42 mandis in Punjab where cattle fairs were being held and there will be a single e-auction for all of these mandis. He informed that this auction will be valid from June 1, 2014 to March 31, 2015 for 10 months. He said that Rs 38.52 has been fixed as reserve price which was Rs. 35.31 last year.
The Minister also informed that the aspirant of e-auction will have to deposit 10 percent of the reserved price and the successful contenders will have to deposit 25 percent of auction price within 2 days.