ISLAMABAD: Pakistan is expected to generate economic activity worth Rs 8.7 billion from the trade of sacrificial animal hides during Eid-ul-Adha this year, according to estimates.
The Eid-ul-Adha season traditionally creates a large-scale leather-related economic cycle, and the sector continues to play a key role in employment and exports across country.
According to data, Pakistan has witnessed a 17% increase in animal sacrifice over the past decade. This year alone, hides from approximately 2.8 million cattle and bulls, 4.3 million goats, 500,000 sheep, and 30,000 camels are expected to contribute to the leather economy, generating significant revenue in Pakistan.
A report cited by Arab News stated that the buying and selling of animal hides in country supports livelihoods for hundreds of thousands of people, while country’s leather industry remains an important contributor to exports.
Pakistan’s leather sector has gradually shifted over the past nine years from relying on raw hides to producing value-added finished goods. Exports of leather products and footwear from Pakistan have reached $694.20 million.
The government is actively working to shift the leather industry further from raw material supply toward finished products to enhance export value and industrial growth in Pakistan.
Economists say the rising number of sacrificial animals and hides reflects strong consumer purchasing power and overall economic confidence in Pakistan.
