Raging inflation leaves Pakistanis struggling to buy sacrificial cattle for Eid ul- Adha celebration
SCMP, 04 Jul 2022
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Muslims in Pakistan are preparing to celebrate Eid ul-Adha, one of the two most important festivals on the Islamic calendar that begins this year on July 9, 2022. Inflation however has pushed up the price of sacrificial cattle, driven partly by higher energy costs, which have risen about 90 per cent since the end of May. Prices shot up after the government scrapped fuel subsidies to cut its surging fiscal deficit and secure a resumption of an International Monetary Fund bailout programme.
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Muslims in Pakistan are preparing to celebrate Eid ul-Adha, one of the two most important festivals on the Islamic calendar that begins this year on July 9, 2022. Inflation however has pushed up the price of sacrificial cattle, driven partly by higher energy costs, which have risen about 90 per cent since the end of May. Prices shot up after the government scrapped fuel subsidies to cut its surging fiscal deficit and secure a resumption of an International Monetary Fund bailout programme.
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#scmp #Asia #Pakistan
