KARACHI: Pakistanis thronging markets to buy sacrificial cows, camels and goats for the upcoming Eid Al-Adha complained about rising prices of the livestock this week.
Pakistan has been beset by inflation above 20 percent since May 2022. Last year in May, inflation jumped as high as 38 percent as the country navigated reforms as part of an International Monetary Fund (IMF) bailout program.
While inflation has since tapered, at the main cattle market in Karachi, Pakistan’s biggest city, customers said they were still facing higher prices than last year.
“There is no impact of it (inflation slowing down). The prices are higher as compared to last year. The price of an animal that was up to 100,000 rupees ($358) last year is reaching 150,000 rupees ($537) this year,” said a customer, Mohammad Asif.
“It is the government’s claim that they have brought down the inflation whereas it is totally contrary to that here at the market. The prices are like three folds up as compared to last year,” said another buyer, Abdur-Rehman.
Trader Mohammad Chhuttal, who traveled some 540 km (336 miles) from the city of Ghotki to sell his cows and bulls in Karachi, said the impact of last year’s high inflation continued to be felt this year.
Traders said the inflation was hurting the purchasing power of ordinary consumers and noted that there were not only fewer customers in the market compared to last year, but that people would choose smaller animals.
Pakistan is in talks with IMF for a loan estimated to be anything between $6 billion to $8 billion to avert a default for an economy that is growing at the slowest pace in the region.
Pakistan narrowly averted a default last summer thanks to a short-term IMF bailout of $3 billion over nine months.
Muslims around the world celebrate the Eid holiday by slaughtering animals such as cattle and goats as they mark the willingness of Prophet Ibrahim to sacrifice his son on God’s command. The meat is shared among family and friends and donated to the poor.
The three-day festival of Eid Al-Adha, one of the two most important festivals on the Islamic calendar, will be celebrated from Monday (June 17) in Pakistan this year.
Pakistanis complain about high prices of sacrificial animals before Eid Al-Adha
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Pakistanis complain about high prices of sacrificial animals before Eid Al-Adha
- Muslims celebrate Eid by slaughtering cattle, goats and cow to mark the willingness of Prophet Ibrahim to sacrifice his son on God’s command
- The three-day festival, one of the two most important festivals on the Islamic calendar, will be celebrated in Pakistan from June 17 this year
High-level Libyan delegation meets Pakistan PM, discusses areas for future cooperation
- The meeting comes over a month after Pakistan reportedly struck a $4 billion defense deal to sell military equipment to Libyan National Army
- PM Sharif reaffirms Pakistan’s commitment to fostering friendly ties with Libya, emphasizes the importance of continued engagement and dialogue
ISLAMABAD: A high-level delegation from Libya on Tuesday called on Pakistan Prime Minister Shehbaz Sharif in Islamabad and discussed areas for future cooperation between the two sides, PM Sharif’s office said.
The delegation comprised Dr. Osama Saad Hamad, who governs eastern Libya, Libyan National Army (LNA) Commander-in-Chief Khalifa Abu-al-Qasim Haftar and his deputy, Lt. Gen. Saddam Khalifa Haftar.
During the discussions, both sides exchanged views on matters of mutual interest and underscored the importance of strengthening bilateral relations, according to PM Sharif’s office.
“The meeting reflected the shared desire to enhance cooperation in areas of common concern and to promote peace, stability, and development at regional and international levels,” Sharif’s office said in a statement.
The development comes more than a month after reports suggested Pakistan had struck a $4 billion defense deal to sell military equipment, including JF-17 fighter jets and Super Mushshak trainer aircraft, to the LNA that controls eastern Libya.
The reports followed the visit of Pakistani Defense Forces Chief Field Marshal Asim Munir to Libya in December. There has been no official confirmation of the deal so far.
Libya has been subject to a UN arms embargo since 2011, requiring approval from the UN for transfers of weapons and related material. It was not clear whether Pakistan or Libya had applied for any exemptions to the UN embargo.
PM Sharif reaffirmed Pakistan’s commitment to fostering friendly relations with Libya and emphasized the importance of continued engagement and dialogue, according to his office. The Libyan leadership appreciated Pakistan’s role and expressed interest in expanding collaboration between the two countries.
“The meeting concluded with an understanding to maintain close contact and explore avenues for future cooperation,” Sharif’s office said.
On Monday, LNA Commander-in-Chief Haftar also met Field Marshal Munir and discussed with him military cooperation and regional security, according to the Pakistani military.
“Both sides exchanged views on matters of mutual interest, with particular focus on security dynamics in respective regions and professional cooperation,” the Pakistani military said.
“The discussion underscored the importance of continued engagement and collaboration between the Armed Forces of Pakistan and Libya.”
