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Thursday, February 15, 2024

Eid economics: Generation of 450 billion economic activity mainly benefiting poor

Mir Mohammad Ali Khan says, "Allah's plans create the distribution of wealth this way and feed the poor." 

According to the latest figures, the Eid-ul-Adha season generated an economic activity worth Rs. 450 billion in Pakistan. Pakistanis sacrificed about 70 million animals in the path of Allah (SWT). The trading in the livestock sector and Eid retail business led to the generation of Rs. 450 billion. It benefitted about 40 percent of agriculture sector small businesses, as reported by Mir Mohammad Ali Khan who always presents figures to strengthen his arguments. He said in a tweet, “Allah’s plans create the distribution of wealth this way and feed the poor.”

About 45 million poor received the distribution of meat. Eid-ul-Adha creates economic opportunities for poor people as wealth is transferred from urban to rural where livestock is present.

About 10 percent more animals were sacrificed on 2021 Eid as compared to the previous year’s Eid. This also resulted in more revenue opportunities for the transport sector. While butchers earned around Rs. 25 billion.


Read more: Twitter reacts to Gharidah Farooqi’s comments on animal sacrifice on Eid-Ul-Azha

A limited number of people going to Hajj this year led to an increase in animal sacrifices this year.

Eid al-Adha is the latter of the two official holidays celebrated within Islam (the other being Eid al-Fitr or ‘Festival of the Breaking of the Fast’). It honors the willingness of Prophet Ibrahim (Peace Be Upon Him) to sacrifice his son Ishmael as an act of obedience to God’s command. Before Abraham could sacrifice his son, however, God provided a lamb to sacrifice instead. In commemoration of this intervention, animals are sacrificed ritually.

One-third of their meat is consumed by the family offering the sacrifice, while the rest is distributed to the poor and needy. Sweets and gifts are given, and extended family is typically visited and welcomed. The day is also sometimes called Big Eid or the Greater Eid.

The event helps boost the local economy as wealth is circulated from richer to poorer sections of the society.

Read more: Indian Kashmir bans animal slaughter for Eid-al-Adha