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KARACHI: Pakistan Tanners Association has estimated collection of around 6,234,700 hides and skin worth more than Rs 6 billion during three days of Eid-ul-Azha.

The association estimated collection of cow hides 2,860,000 approx price Rs 1500 each totaling approximate value of Rs 4,290,000,000.

Similarly, buffalo hides 165,000 approx price Rs 1600 each totaling Rs 264,000,000. Goat skin 3,300,000 approx price Rs 425 each totaling Rs 1402,500,000, sheep skin 385,000 approximate value Rs 45 each totaling Rs 17,325,000 and camel hide 98,700 approximate viable Rs 550 each totaling Rs 54,285,000.

“Eid provides about 20 percent of raw material required by the leather industry, but this year the ratio will further decline due to wastage,”.

Banned outfits restricted from collecting animals’ hides

Pakistani charities as well as religious and political organizations, which used to heavily rely on animal hides on Eid-ul-Azha for their revenue generation, say the revenue stream has almost lost its value due to a decline in demand and prices of hides.

Pakistan’s exports of leather products declined from $677 million to $624 million from July 2023 to May 2024, according to the country’s statistics bureau. A surge in demand for artificial leather globally is one of the key factors behind this decline.

As a result, many Pakistani charities have been forced to look for alternative fundraising sources and methods to support their operations.

In the past, the collection of animal skins and hides worth billions of rupees also led to violence in Pakistan’s commercial capital of Karachi, but this has stopped now.

In Pakistan, Eid-ul-Azha significantly boosts the livestock sector, involving more than 8 million rural families. The festive period sees an increase in demand for animals, which in turn provides economic opportunities to rural communities.

Copyright Business Recorder, 2024

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Ch K A Nye Jun 21, 2024 02:46pm
And all sold without any taxes.
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