Monday September 20, 2021

Eid-ul-Azha generates over Rs325 billion economic activity

July 24, 2021

LAHORE: Seasonal festivities related to Eid-ul-Azha generated over Rs325 billion worth of economic activities, as Pakistanis slaughtered around 5.86 million animals during the three-day festival, industry officials said.

According to estimates of Pakistan Tanners Association (PTA), three million goats, two million cows/calves/bulls, 0.8 million sheep and 70 thousand camels were slaughtered across the country.

Prices of hides varied across the board, with the hide of a cow, bull or a calf costing between Rs900-Rs1,200 a piece.

Similarly, the price of a goat skin was Rs160-Rs210, sheep was only Rs50-75/piece, while camel hides were not purchased by the brokers and buyers of tanneries.

For the first time, big tanneries like Royal Leather, Sahfi Group, and others did not purchase any hides and skins of the sacrificial animals.

Hot and humid weather was also responsible for low sales, as quality is affected due to humidity and mugginess. Tanners had faced a similar situation last year on Eid-ul-Azha, when rains damaged a huge quantity of animal hides and skins across the country.

Former chairman of PTA, Agha Saidan, who owns Royal Leather, said that the leather industry faced huge losses last year, when raw material was destroyed by humidity.

According to the estimates of the PTA, only animal sales generated over Rs300 billion of economic activities. The tanners’ body calculated it on the basis of average price of cow/calf/bull at Rs90,000 an animal, Rs35,000 a goat, Rs25,000 a sheep, and Rs150,000 a camel.

Agha believed that the prices of all animals were much higher in urban centres like Karachi, Lahore, Islamabad, and other mega cities.

“However, he said most of the money went to middlemen (beoparis), while livestock breeders from small villages did not get high rates for the animals.”

Talking about city prices for various animals, he cited the example of bulls, that fetched around Rs150,000-Rs200,000 in the cattle markets of Karachi and Lahore, whereas goats and sheep also fetched a higher price in the urban markets.

On the other hand, prices in villages were much lower than the consumer prices in cities.

Other allied businesses that benefitted from Eid-ul-Azha activities included transport, fodder, slaughtering

equipment, and animal casings. Around Rs10-Rs15 billion were generated by allied businesses during the festive season.