ISLAMABAD: The Federation of Pakistan Chamber of Commerce and Industry (FPCCI) on Thursday said Eidul Azha will result in the business of around one billion dollars in the country.
It will benefit millions of people linked to the rural economy, and help dozens of industries including livestock and agriculture sectors, it said.
Despite political uncertainty which has kept investors away from Eid economy, the business activity will touch the impressive mark of $1 billion, said Atif Ikram Sheikh, Chairman FPCCI Regional Committee on Industries.
According to some estimates around twelve million animals would be sacrificed while hides worth six to seven billion rupees would be wasted due to inexperienced butchers, hot weather, lack of proper storage and transportation facilities, load-shedding, delayed processing and general lack of awareness, he said.
Atif Ikram Sheikh said that the wastage of hides and skins will result in losses to the export industry estimated at 400 million dollars as the industry is already suffering from multiple issues
A fall in remittances and interest of investors in the real estate sector has also damaged the Eid Economy to some extent, he added.