Desperation over inflation undercuts typically booming Eid trade at Islamabad cattle market

This photograph taken on June 23, 2023, shows a general view of an animal market for the Muslim annual festival of Eid Al-Adha or the Festival of Sacrifice, on the outskirts of the Pakistani capital, Islamabad. (AN Photo)
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Updated 27 June 2023
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Desperation over inflation undercuts typically booming Eid trade at Islamabad cattle market

  • Many buyers at Islamabad’s main cattle market said they couldn’t afford livestock for the ritual sacrifice 
  • Sellers complained they had to source animals at exorbitant rates this year, rearing cattle more expensive 

ISLAMABAD: On the outskirts of the Pakistani capital of Islamabad, thousands of sacrificial animals are up for sale at a cattle market especially set up ahead of Eid Al-Adha later this week. 

There’s just one problem: there are very few customers, as millions of Pakistanis reckon with record inflation.  

Known as the “Feast of Sacrifice,” the revered observance of Eid Al-Adha coincides with the final rites of the annual Hajj in Saudi Arabia. It is a joyous occasion, of which food is a hallmark. Many Muslims celebrate the four-day feast by ritually slaughtering livestock and distributing the meat among family, friends and the poor. 

But with Pakistan’s annual inflation rate rising to 37.97 percent in May, setting a national record for the second month, many buyers at Islamabad’s main cattle market said they couldn’t afford the livestock for the ritual sacrifice while sellers complained they had to source the animals at exorbitant rates this year and rearing the cattle cost them three times more than before. 

At Islamabad’s cattle market last week, a thin crowd was evidence that desperation over the cost of living has undercut the typically booming holiday trade in goats, cows and sheep. 

“We bought 20 animals and have sold only five so far,” seller Nusrat Ali Khan told Arab News at the market, which is spread over 15,000 hectares and can accommodate around 6,000 animals.




A local cattle vendor poses with his buffalo at the animal market for the Muslim annual festival of Eid Al-Adha or the Festival of Sacrifice, in Islamabad on June 23, 2023. (AN Photo)

 At least 4,000 animals have been brought to the market from different parts of the country ahead of Eid Al-Adha. 

“We can’t really see any customers. The expenses are quite a lot and customers are not coming.” 

Khan wondered if he would be able to sell any of his animals before Eid, which falls on Thursday in Pakistan.  

“If they are sold, only then we can earn something for our children,” he said. 

Buyers complained sellers’ prices were unfair. 

“My budget was somewhere around Rs300,000 ($1,047) to Rs350,000 ($1,222) but when we came here, the animal which should be Rs350,000 is priced at Rs700,000 ($2,445) and the Rs700,000 animal is available at Rs1,400,000 ($4,890),” buyer Shaikh Romail said. 

“The rates are double, and it was not what we expected.” 




This photograph taken on June 23, 2023, shows three bulls, priced over $2,400 each. present at the Islamabad animal market for the Muslim annual festival of Eid Al-Adha or the Festival of Sacrifice on the outskirts of the Pakistani capital. (AN Photo)

Explaining the high rates this year, Raja Tahir, the cattle market contractor, said rearing the cattle was neither an easy nor a cheap task. 

“It is difficult to take care of them. You can gauge that from the fact that what you can’t afford to eat yourself, you feed them,” Tahir told Arab News, saying sellers fed wheat, milk, ghee, barley, nuts, and other natural ingredients to their animals to enhance their beauty, weight, and physique. 

But the higher cost has meant fewer customers. 

“Customers are fewer as compared to the number of animals [in the market],” Azhar Siddiqui, who was shopping for a goat, said. 

“The buying power has been affected due to inflation. This will have an effect, people will sacrifice less as compared to the past. People who used to buy full animals will now go for buying parts.” 


Pakistan says repaid over $13.06 billion domestic debt early in last 14 months

Updated 29 January 2026
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Pakistan says repaid over $13.06 billion domestic debt early in last 14 months

  • Finance adviser says repayment shows “decisive shift” toward fiscal discipline, responsible economic management
  • Says Pakistan’s total public debt has declined from over $286.6 billion in June 2025 to $284.7 billion in November 2025

KARACHI: Pakistan has repaid Rs3,650 billion [$13.06 billion] in domestic debt before time during the last 14 months, Adviser to the Finance Minister Khurram Schehzad said on Thursday, adding that the achievement reflected a shift in the country’s approach toward fiscal discipline. 

Schehzad said Pakistan has been repaying its debt before maturity, owed to the market as well as the State Bank of Pakistan (SBP), since December 2024. He said the government had repaid the central bank Rs300 billion [$1.08 billion] in its latest repayment on Thursday. 

“This landmark achievement reflects a decisive shift toward fiscal discipline, credibility, and responsible economic management,” Schehzad wrote on social media platform X. 

Giving a breakdown of what he said was Pakistan’s “early debt retirement journey,” the finance official said Pakistan retired Rs1,000 billion [$3.576 billion] in December 2024, Rs500 billion [$1.78 billion] in June 2025, Rs1,160 billion [$4.150 billion] in August 2025, Rs200 billion [$715 million] in October 2025, Rs494 billion [$1.76 billion] in December 2025 and $1.08 billion in January 2026. 

He said with the latest debt repaid today, the July to January period of fiscal year 2026 alone recorded Rs2,150 billion [$7.69 billion] in early retirement, which was 44 percent higher than the debt retired in FY25.

He said of the total early repayments, the government has repaid 65 percent of the central bank’s debt, 30 percent of the treasury bills debt and five percent of the Pakistan Investment Bonds (PIBs) debt. 

The official said Pakistan’s total public debt has declined from over Rs 80.5 trillion [$286.6 billion] in June 2025 to Rs80 trillion [$284.7 billion] in November 2025. 

“Crucially, Pakistan’s debt-to-GDP ratio, around 74 percent in FY22, has declined to around 70 percent, reflecting a broader strengthening of fiscal fundamentals alongside disciplined debt management,” Schehzad wrote. 

Pakistan’s government has said the country’s fragile economy is on an upward trajectory. The South Asian country has been trying to navigate a tricky path to economic recovery under a $7 billion loan from the International Monetary Fund.