[vc_row full_width=”” parallax=”” parallax_image=””][vc_column width=”5/6″][vc_column_text css_animation=”bottom-to-top”]BR RESEARCH
(November 15, 2010) : Its that time of the year when the four-legged have taken control of several peoples lives and thoughts. Yes, its the time of the festive Islamic occasion of Eid-ul-Azha.
While many know the spiritual benefits of sacrifice, the economic benefits of this holy occasion are also countless.
Conservative estimates place the total number of animals, both small and large, slaughtered in Pakistan above 5 million, and the total value of these animals hovers around Rs100 billion, assuming 25 percent of the households practice sacrificial rites this year. The resulting trade and sacrifices of livestock, with the said injection of money into the economy, also spills over the gains into various sectors.
According to a study conducted by the Institute of Management Sciences, Peshawar, while the average marginal propensity to consume (MPC) in Pakistan averages around 0.68 for every rupee, the sales proceeds of sacrificial animals had an MPC of 1.
This means that for an increase of Rs1 in income from sale of animals (mainly for the rural livestock raisers), consumption increases by Rs1. This may be directed at various activities from purchases of electronic gadgets and other supplies to health and education expenditures.
The resulting consumption helps generate demand in both the manufacturing and services sectors of the economy. And since the benefits accrue to the rural cattle farmer, poverty alleviation in the relatively impoverished rural sector of the economy is another gain.
According to David Doolan, Senior FAO Officer, in charge of FAO programmes in Pakistan, “livestock in this country are the poor peoples mobile ATM.”
The animal skin and slaughtering services are also another revenue-generating source with their total value estimated at around Rs7 billion. These help provide the impetus to butchering services, as well as to the leather industry of the country.
On a more micro level, prices of animals have gone up by 15-20 percent this year over the previous year, according to sources in the industry.
While the average price of larger animals have risen from roughly Rs34,000 last year to Rs45,000 this year, the average price of small animals have soared from around Rs11,000 to Rs15,000, according to Latif Qureshi, General Secretary of the Karachi Livestock Traders Welfare Association.
Industry sources have cited the loss of animals after the floods as creating a supply-side shortage that caused the buoyancy in prices.
The prices of animals include the cost of transportation and maintenance; however, money taken from livestock sellers in the name of water tax, maintenance and shelter tax, electricity tax, etc augment prices further.
“We pay a lump sum of Rs700 per animal to the government for the maintenance and shelter of the sacrificial animals, and yet we are exploited for these other trivial expenses, bloating our costs further,” said Latif .
New trends observed in the market this year include a greater propensity towards collective or institutional sacrifices as individual sacrifices have become dearer for the purchasers.
In addition, a development in online sacrificial services has also established ground. “Online sacrificial services are gaining popularity amongst Muslims both in the country and abroad. The business has gained credibility over the years due to standard prices, convenience and greater awareness,” said Iftikhar Hasan, pioneer of Qurbani Online, an online portal for the sale of sacrificial animals.
Over the years, the dynamics of the market of sacrificial animals have changed dramatically. One hopes the true spirit of sacrifice is not lost along the way.[/vc_column_text][/vc_column][vc_column width=”1/6″][vc_single_image image=”725″ alignment=”center” style=”” border_color=”grey” img_link_large=”” img_link_target=”_self” css_animation=”right-to-left” title=”Aqiqa” link=”/aqiqa-online” img_size=”full”][vc_single_image image=”726″ alignment=”center” style=”” border_color=”grey” img_link_large=”” img_link_target=”_self” css_animation=”right-to-left” title=”Qurbani Online” link=”/qurbani-online” img_size=”full”][vc_single_image image=”729″ alignment=”center” style=”” border_color=”grey” img_link_large=”” img_link_target=”_self” css_animation=”right-to-left” title=”Aqiqa” link=”/sadqa-online” img_size=”full”][/vc_column][/vc_row][vc_row full_width=”” parallax=”” parallax_image=””][vc_column width=”1/1″][vc_column_text css_animation=”bottom-to-top”]
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