PSBA sets benchmark in welfare-sector governance, says audit report

A recent state audit has confirmed that Naveed Rafaqat, the founding Director General of the Punjab Sahulat Bazaars Authority (PSBA), received one of the highest remunerations recorded in Pakistan’s welfare sector.

The figure, described by government auditors as “exceptionally high but fully justified,” reflects the Authority’s transformation from a donor-dependent enterprise into a self-financing statutory body.

Officials noted that PSBA’s financial and governance audits under Rafaqat consistently reported subsidy-free operations, surplus reinvestment, and top-tier compliance scores.

The Authority’s legal framework — the Punjab Sahulat Bazaars Authority Act 2025 — has also become an academic case study across Pakistan’s leading universities. From the University of Agriculture Faisalabad and the University of Gujrat to Fatima Memorial University and law colleges including Sialkot Law College and Punjab University Law College, PSBA is now examined as a benchmark in public-law innovation and welfare governance.

Law faculties cite the Act’s drafting and implementation as an example of how provincial legislation can merge fiscal autonomy with social equity.

Rafaqat is widely recognised as the pioneer CFO of the former Punjab Model Bazaars Management Company (PMBMC) and the first Director General of PSBA after its statutory conversion in April 2025.

Under his leadership, the Authority achieved a subsidy-free welfare model, launched a free home-delivery system for essential goods, expanded Sahulat Bazaars across the province, and secured Rs10 billion in development funding for the self-reliant social-market initiative — an effort many observers say has redefined public-sector innovation in Pakistan.