RAWALPINDI:
Commercial markets and livestock bazaars in the twin cities of Rawalpindi and Islamabad witnessed an unprecedented slowdown in business activity ahead of Eidul Azha, with traders reporting record sales of sacrificial animals as well as Eid shopping by women and children.
Amid slow business, livestock traders announced substantial reductions in prices of sacrificial animals during the first, second and third days of Eid after failing to achieve expected sales volumes.
Traders also stated that they would refrain from selling animals to butchers, despite offers reportedly ranging between Rs 100,000 and Rs 120,000 per individual bull.
The 12 livestock markets of the region remained busy from 10 pm on Monday until Sehri around 5 am, as families accompanied by children continued to visit the bazaars in large numbers.
However, most potential buyers returned without making purchases due to declining purchasing power. Many families were expected to make another attempt during the intervening night between Tuesday and Wednesday, from midnight to dawn.
Some households managed to purchase smaller goats and sheep at prices below Rs 100,000. However, the traditional neighborhood-based system of collective slaughter, in which seven people jointly share the cost of a cow or bull, experienced a notable resurgence. The popularity of the “Qurbani share” deal has reportedly increased sharply this year, with individual shares pegged at Rs 40,000 to Rs 50,000.
In areas like Rawat and Kallar Syedan, selling animals by live weight also failed to stimulate demand. Some quarters openly criticized the practice of purchasing animals for slaughter by weight, calling it inappropriate and contrary to the spirit of Eidul Azha.
By Tuesday night, prices at five major livestock markets had already been cut by 10 to 15 percent, although traders admitted the cuts failed to generate the desired sales boost. With expectations of further price drops from midnight Wednesday until the first day of Eid, many families chose to delay purchases in anticipation of lower rates.
During the last pre-Eid trading period, bulls continued to sell for between Rs 350,000 and Rs 500,000, while goats and sheep were fetched around Rs 150,000. The camels were sold between 800,000 and 1 million rupees.
