Animal sacrifice hits hard amid skyrocketing prices this Eid
Dealers of sacrificial animals have been ordered by Multan admin to sell only in designated areas. PHOTO: FILE
As Lahore observes Eid-ul-Adha today, the focus has shifted from bustling cattle markets to the traditional sacrifices that mark the festival. However, many citizens are expressing concern over the soaring cost of livestock and the ineffective enforcement of price and safety regulations.
In the days leading up to Eid, cattle markets across the city were packed with buyers and animals arriving from regions such as South Punjab. Yet despite the festive spirit, shoppers were left frustrated by what they say were unjustified price hikes.
"A calf or bull that cost between Rs150,000 and Rs250,000 last year is now being sold for Rs350,000 to Rs500,000," said Muhammad Hanif, a buyer at the Shahpur Kanjran Cattle Market.
"Even goats and sheep are priced as high as Rs250,000 to Rs300,000."
Kamran Bhatti, a resident of Valencia Town, echoed the sentiment. "There's no pricing mechanism at all. Sellers are quoting whatever they wantsome are demanding up to a million rupees for a pair of small animals," he said.
"The government should promote local breeding and invest in livestock farming to stabilise the market and generate employment."
Livestock traders, however, blamed the increased prices on rising operational costs.
"We're not overchargingour own costs have gone up significantly," said Sadaqat Ali, a trader who brought animals from Multan.
"High fuel prices, transport expenses, and labour wages have pushed up our overheads. If the government addresses these issues, livestock prices will automatically come down."
To ensure organised and hygienic trading, the Lahore district administration established six official cattle markets. In addition to the permanent market at Shahpur Kanjran, five temporary facilities were set up at key locations across the city, including Haveli Markaz near Spring Mill (Raiwind zone), the Sports Complex near Adda Rakh Chabeel (Wahga zone), LDA City on Defence Road (Nishtar zone), Mouza Nain Sukh near Saggian Bridge (Ravi zone), and Burki Road near Paragon City (Cantonment zone). In a bid to maintain public order and sanitation, the Punjab government also imposed Section 144 across the province from June 5 to June 11.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Recorder
8 hours ago
- Business Recorder
Gold price per tola gains Rs1,465 in Pakistan
After declining in the previous session, gold prices in Pakistan increased on Saturday in line with their jump in the international market. In the local market, gold price per tola reached Rs358,465 after a gain of Rs1,465 during the day. As per the rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), 10-gram gold was sold at Rs307,325 after it gained Rs1,256. On Friday, gold price per tola reached Rs357,000 after a decline of Rs1,595 during the day. The international rate of gold also increased today. The rate was at $3,369 per ounce (with a premium of $20), an increase of $13, as per APGJSA. Meanwhile, silver price per tola declined by Rs11 to reach Rs3,785.
Business Recorder
10 hours ago
- Business Recorder
Budget FY26: Aurangzeb announces major tax relief for salaried class, solar sector
Finance Minister Muhammad Aurangzeb, in his address to the Senate, on Saturday, announced key relief measures in the federal budget for FY2025-26, including a significant income tax cut for the salaried class and a reduction in General Sales Tax (GST) on imported solar panels. He emphasised that individuals earning between Rs600,000 and Rs1.2 million annually will now be taxed at just 1%, down from 2.5% proposed in the budget for FY2025-26. It is pertinent to mention that, according to the budget proposals for FY26, the tax rate for those earning between Rs600,001 and Rs1.2 million was reduced to 2.5% from 5%. Pakistan salaried class rejects govt's claim of giving relief in income tax Addressing the Senate on Saturday, the finance minister said that low- and middle-income individuals play a vital role in our economy. 'This is the segment that endures inflation and pays taxes,' he acknowledged. The Senator said that the proposal to reduce income tax on this salaried class was already part of the budget suggestions. 'In this regard, the government, amid directives from the prime minister, has reduced the income tax rate for those earning between Rs600,000 and Rs1.2 million annually — from 2.5% to just 1%,' he told the house. The minister was of the view that the implementation of a 1% income tax rate is both 'a practical and symbolic recognition' by the government that it does not want to burden this class. 'We hope this step will not only increase compliance but also restore their confidence in the tax system,' he said. Meanwhile, Aurangzeb stated that the salaries and pensions of government employees have been increased by 10% and 7%, respectively. The finance minister reiterated that the government did not introduce a mini-budget during the outgoing fiscal year and maintained fiscal discipline. He informed the upper house that the federal government expenditure for FY26 has increased marginally by 1.9%, far lower than in previous years. GST on solar panels lowered to 10% Additionally, Aurangzeb told the Senate that the proposed 18% GST on solar panel imports has been lowered to 10% following consultations with lawmakers. 'The government in its budget proposed to impose an 18% GST on imported solar panels. This was done to protect local industries and provide a level playing field, and promote the development and investment in solar technology in Pakistan,' he said. However, in light of detailed deliberations on the budget in both houses, the government has decided to reduce the proposed tax to 10%. Moreover, this tax will apply only to 46% of imported components, said Aurangzeb. 'With this measure, the price of solar panels will increase by 4.6%,' he said, adding that the government remains committed to promoting renewable energy. Aurangzeb informed the house that the government has received reports of profiteering and hoarding of solar panels by certain elements. 'It is condemnable that these opportunistic actors have artificially increased prices even before the proposed measure has come into effect. I strongly warn such elements that the government will take every possible step in the public interest,' he said, adding that legal action will be taken against those involved.
Business Recorder
12 hours ago
- Business Recorder
SAPM highlights Pakistan's plan for zero transport emissions
ISLAMABAD: Special Assistant to the Prime Minister (SAPM) on Industries and Production Haroon Akhtar Khan, Friday, while highlighting the government's plan to reach net zero transport emissions by 2060 has reaffirmed the government's commitment for sustainability, for innovation and industrial competitiveness. Addressing the dissemination workshop on New Energy Vehicle Policy 2025-30, he said: 'This policy aims to enable 30 percent of all new vehicles to be electric by 2030, and the ambition of reaching net zero transport emissions by 2060.' He said that for the skill development National Vocational and Technical Training Commission (NAVTTC) also coordinating to train around 10,000 apprentices. The policy ensures that citizens are not just consumers, but beneficiaries. Buyers are protected through a new legal framework covering information transparency, currency risk sharing, and performance guarantees. This transition is projected to save 2.07 billion litres of fuel annually, amounting to nearly $1 billion in foreign exchange savings. Additionally, the policy is expected to reduce carbon emissions by 4.5 million tons and cut healthcare-related costs by $405 million per year. The government had already issued 61 licenses for manufacturing of motorbikes and three-wheelers while two licenses for the manufacturing of electric vehicles. Many international companies are interested in energy vehicle investment in the country. He emphasised that the policy is not just an environmental commitment but also an economic imperative. Moreover, the policy enables the productive use of 126 TWh of surplus electricity, which would otherwise go to waste. To encourage adoption, the government is offering consumer subsidies including: Rs65,000 for electric two-wheelers, Rs400,000 for electric three-wheelers and Rs15,000 per kilowatt-hour for electric four-wheelers besides supporting and funding installation of electric charging stations. Additionally, 40 fast-charging stations are expected to become operational on highways by the end of 2025, improving infrastructure for EV users. Akhtar also announced that provinces are being encouraged to offer free NEV registration to support nationwide adoption. He emphasised the policy's role in promoting industrial growth and local manufacturing, noting that 57 local manufacturing certificates have been issued and over 90 percent localisation has already been achieved in electric motorcycles and rickshaws. International players are showing growing interest in Pakistan's NEV sector, which Akhtar described as a positive signal for foreign investment and technology transfer. The policy is built on following five key pillars: (i) Subsidies for consumers; (ii) Tariff protections for local industry; (iii) Infrastructure development including charging stations;(iv) Quality and safety standards aligned with global benchmarks, and (v) Institutional support and regulatory frameworks. Haroon Akhtar concluded by reaffirming the government's commitment to a sustainable transport system that is equitable, forward-looking, and globally competitive. The country faced dual challenge of greenhouse gas emissions while energising its industrial base. Transport accounts for a significant share of our emissions, while our energy and manufacturing sectors remain underutilised in key value chains. The NEV policy brings these two realities together, not as a problem, but as a platform and a national opportunity. The NEV policy is a smart industrial strategy which not simply subsidise, it prioritises accountability, technological advancement, and market fairness which based on five main pillars. Copyright Business Recorder, 2025
