Twin cities witness sluggish trade activity

Commercial markets and cattle bazaars across the twin cities of Rawalpindi and Islamabad witnessed an unprecedented slowdown in commercial activity ahead of Eidul Azha, with traders reporting record-low sales of sacrificial animals as well as Eid shopping by women and children.

Amid sluggish business, livestock traders announced substantial price reductions for sacrificial animals during the first, second and third days of Eid after failing to achieve expected sales volumes.

Traders also declared that they would refrain from selling animals to butchers, despite offers reportedly ranging between Rs100,000 and Rs120,000 for individual bulls.

All 12 cattle markets across the region remained heavily crowded from 10pm on Monday until Sehri at around 5am, as families accompanied by children continued visiting the bazaars in large numbers.

However, most prospective buyers reportedly returned without making purchases due to diminished purchasing power. Many families were expected to make another attempt during the intervening night between Tuesday and Wednesday, from midnight until dawn.

Some households did manage to purchase smaller goats and sheep priced below Rs100,000. However, the traditional neighbourhood-based collective sacrifice system, in which seven individuals jointly share the cost of a cow or bull, witnessed a notable resurgence. The "shared Qurbani" arrangement reportedly rose sharply in popularity this year, with individual shares being fixed between Rs40,000 and Rs50,000.

In areas including Rawat and Kallar Syedan, the sale of animals by live weight also failed to stimulate demand. Some quarters openly criticised the practice of purchasing sacrificial animals by weight, describing it as inappropriate and contrary to the spirit of Eidul Azha.

By Tuesday evening, prices in five major cattle markets had already been reduced by between 10 and 15 per cent, though traders admitted the cuts failed to generate the desired sales momentum. With expectations of further price declines from midnight onwards into the first day of Eid on Wednesday, many families opted to delay purchases in anticipation of lower rates.

During the final pre-Eid trading period, bulls continued selling for between Rs350,000 and Rs500,000, while goats and sheep fetched around Rs150,000. Camels were being sold in the range of Rs800,000 to Rs1 million.