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Express Tribune
2 days ago
- Business
- Express Tribune
Cattle prices surge by up to 70%
With Eidul Azha just around the corner, the sale of sacrificial animals has gathered pace across the metropolitan city, with markets seeing an uptick in activity. However, buyers are facing steep price hikes, with the cost of sacrificial animals surging by 50 to 70 per cent compared to last year. In various cattle markets of the metropolis, the starting price for goats is now around Rs40,000, while heifers - regardless of weight - are hardly available for less than Rs140,000. Last year, a low-weight heifer could still be purchased for under Rs100,000 were now fetching Rs200,000 or more. Buyers are increasingly frustrated at the lack of official regulation in animal pricing. Traders are setting prices arbitrarily, leaving buyers to negotiate deals through bargaining. Traders attribute the increase in prices to several factors, including the rising cost of animal feed, transportation, and other logistical expenses. "The cost of fodder alone has surged by over 50 per cent," Kashif Qureshi, a trader, told The Express Tribune. He added that animals are bought from larger markets in Punjab and Sindh, and medium-sized traders then transport them to Karachi - incurring fuel, tax, and miscellaneous expenses. "The total cost accumulates through various stages - purchasing from big traders, transportation to Karachi, and maintenance at the local markets, including lighting and security," Qureshi added. "Only after accounting for all these factors do traders add their margin, which can range from Rs15,000 to Rs50,000 for smaller animals and Rs50,000 to Rs200,000 or more for larger animals." Traders say that the pricing of animals is also influenced by breed, appearance, and weight. "While 13 government-designated cattle markets operate in Karachi, animals are also being sold informally in various neighbourhoods," said another trader, Arif Qureshi. He explained that cows, heifers, and camels are among the large animals available, but due to the current price surge, many middle-income families are struggling to afford them. Heifers of average weight are now selling between Rs200,000 and Rs300,000, while heavier, premium animals are priced between Rs400,000 and Rs1 million. Elite buyers are purchasing high-end animals ranging from Rs1.2 million to Rs2 million or more. As Eidul Azha nears, buyers are increasingly visiting the markets during evening and nighttime hours, typically seeking medium-sized heifers for around Rs200,000. Most animals are sourced from various districts across Punjab. In the goat market, prices have also risen sharply. Saifuddin, a goat trader, told The Express Tribune that medium-weight goats that were previously sold for Rs30,000 to Rs35,000 are now priced at Rs50,000 to Rs60,000. The starting price for goats is around Rs40,000, with some reaching up to Rs300,000, depending on breed and build. Rams and sheep are similarly priced, ranging from Rs40,000 to Rs200,000 or more. Their valuation is also driven by factors such as weight, breed, and appearance, according to trader Rashid Saleem. Camel trader Ibrahim Din spoke about a growing trend in camel sacrifices over the past two years, though it remains relatively limited. He said camels brought in from different districts of Sindh now cost Rs300,000 and above. Karachiites have voiced their concern over the sharp rise in prices. Saeed-ul-Zafar from Nazimabad said the same heifer he purchased for Rs150,000 last year cost him Rs240,000 this time. "There needs to be a government-regulated pricing mechanism for sacrificial animals," he urged. Similarly, Asif Abbasi from Saddar criticised the lack of oversight, saying, "Traders are charging arbitrary prices. I bought a goat for Rs60,000 this year, which cost me just Rs35,000 last Eid." With no formal pricing framework in place, people are left to navigate the inflated market through direct negotiations with traders - hoping to uphold the tradition of sacrifice amidst economic challenges.
Express Tribune
2 days ago
- Business
- Express Tribune
Development budget likely to top Rs4tr
Listen to article The government is set to approve a record Rs4.1 trillion national development budget for the Centre and provinces amid scarcity of resources that has compelled it to ban small-scale projects and not to include federally-funded province-specific new schemes for next year. Despite the threat of blocking water by India, the government has proposed to reduce the water sector allocation by 45% or Rs119 billion to just Rs140 billion for the fiscal year 2025-26 against the originally approved budget. Yet, the proposed federal Public Sector Development Programme (PSDP) reflects the coalition government's political priorities, with hefty allocations for road infrastructure, while funding for education, health, and water has been significantly slashed for the fiscal year 2025-26. The Annual Plan Coordination Committee (APCC) will today (Monday) approve the national development budget outlays for the federal government, four provincial governments and the special areas of Pakistan. Planning Minister Ahsan Iqbal will chair the meeting, which will also recommend 4.2% economic growth and 7.5% inflation targets for the next fiscal year. The federal PSDP has been finalised by a committee constituted by Prime Minister Shehbaz Sharif aimed at accommodating the needs of the coalition partners. The APCC will approve a cumulative Rs4.1 trillion outlay for development, which will be Rs300 billion or 8% higher than this fiscal year's original budgets approved by the National and four provincial assemblies. There has been a reduction in the federal PSDP, but the four provincial governments will cumulatively spend 28% higher than this year's budget from their own resources. Provinces are rich, thanks to the ill-planned National Finance Commission award of 2010. The APCC will approve Rs1 trillion federal PSDP, down by Rs400 billion compared to this fiscal year's original budget approved in June last year. The federal government will borrow Rs270 billion from abroad to fund this Rs1 trillion spending. The four governments plan to spend Rs2.8 trillion, higher by Rs609 billion or 28% over this year's original budgets. The provincial governments will also borrow Rs802 billion from abroad to fund their projects. Another Rs288 billion will be spent by the government-owned companies outside the federal budget. Punjab is on a spending spree, as it plans to spend Rs1.19 trillion, which is higher by Rs346 billion or 41% over this fiscal year's budget. Khyber-Pakhtunkhwa will follow Punjab with Rs440 billion spending, also higher by 63%. Sindh government plans to spend Rs887 billion, higher by Rs60 billion or 7%. The Balochistan government is proposing Rs280 billion for development, which is higher by Rs32 billion over the originally approved budget. No fiscal space The federal and provincial governments are loosening their purses despite the country facing challenging economic conditions. The federal government, constrained by limited fiscal space, is once again allocating Rs1 trillion, even though it managed to spend only Rs600 billion during the first 11 months of the current fiscal year. The APCC will approve not to include any new provincial nature project in the PSDP due to fiscal constraints. It will also approve a moratorium on approval of up to Rs1 billion projects till completion of the IMF programme. However, an exception is also being proposed from the moratorium in case of "compelling conditions". Despite fiscal constraints, projects pertaining to devolved subjects and provincial in nature are still being financed under the federal PSDP. About 30-40% of PSDP goes to the provincial nature projects, which have seriously undermined the progress of mega and core projects of national significance, according to the planning ministry. The projects of national importance are delayed due to thin spread funding, and around 90% ongoing projects have been revised with cost increase and time overrun, it added. The APCC may also issue directions that the development funds should not be diverted to non-development purposes during the currency of the fiscal year. The APCC will review whether projects with high impact, focused on completion within 3-4 years, will be funded. The proposed PSDP gives priority to foreign-funded and core, and high-impact projects. However, a cursory look at the proposed PSDP suggests that despite tough economic conditions, the government has given importance to politically nature projects by increasing allocations for the National Highway Authority and the provincial nature projects. The allocation for the provincial projects has been proposed to be increased from Rs19 billion to Rs93.4 billion. Likewise, the NHA budget has been proposed to be increased to a whopping Rs229 billion, up by Rs49 billion or 27%. To make room for higher spending on political priorities of the coalition partners, the government has proposed to drastically reduce the funding of the water and power sector projects. The power sector budget is proposed to be reduced by Rs72 billion or 41% to Rs104 billion. The water sector allocation is proposed to be cut by Rs119 billion to just Rs140 billion. Diamer Basha dam project will get Rs35 billion in the next fiscal year compared to Rs40 billion this year, according to the sources. The federal ministry of education's budget has been proposed to be cut by 27% to Rs20 billion, while the Higher Education Commission's budget is proposed to be reduced by Rs21 billion or 32% to Rs45 billion. Despite challenges, the government has also retained a Rs50 billion allocation for the parliamentarians' schemes under the umbrella of the Sustainable Development Goals Achievement Programme. Around 1,071 development projects with a cumulative cost of Rs13.4 trillion are currently under implementation. They need another Rs10.2 trillion for completion, which the Planning Ministry states would take more than 10 years to complete. Compared to the original Rs1.4 trillion approved federal PSDP in the budget, the actual spending as of the end of May remained at Rs596 billion, which is hardly 43% of the parliament's approved budget. The government admits that Pakistan, withan IMF programme, undergoes some limitations and thus the challenge ahead is to leverage the limited resources in a way to achieve maximum returns from each project to satisfy goals and objectives outlined in the national economic transformation plan, the 5Es-based five-year plan and the "Uraan Pakistan Programme" while overcoming challenges. There are also implementation issues, and during recent reviews, the planning ministry had identified 183 projects, mostly at the DDWP level, as problematic and slow-moving. It has been recommended to cap or close all these projects by June 2025. By capping or closing such projects, around Rs1 trillion could be saved and fiscal space could be created for fast-moving ongoing projects as well as new high-impact priority projects, according to a proposal to the APCC.
Express Tribune
4 days ago
- Climate
- Express Tribune
Pre-monsoon drain desilting drive launched
Machinery is being used to speed up the process of desilting of canals in order to provide farmers timely supply of water for their crops. Photo: Express As part of pre-monsoon preparations, the Water and Sanitation Agency (WASA) has launched a major desilting operation of the 22-kilometer-long Nullah Leh and 13 major stormwater drains across Rawalpindi. Of total estimated cost of the project is Rs140 million, Rs80m will be spent on the complete desilting and realignment of Nullah Leh, while Rs60m is allocated for the storm drains. The Punjab government has approved the budget for this project. The desilting of Nullah Leh and the storm drains is scheduled for completion by June 30. The flood season for Nullah Leh is expected to run from July to September 15. Following Eidul Azha, a full-scale flood rescue drill will be conducted in low-lying areas like Javed Colony and Nadeem Colony. This exercise will include teams from the 111 Brigade, Rescue 1122, Civil Defence, and local police to simulate the evacuation of residents in case of flooding. The 111 Brigade will also be placed on red alert once the flood season begins. From June 15, a centralised Flood Control Room will be activated under the supervision of the Rawalpindi Deputy Commissioner. This control room, located at the Civil Defence Headquarters, will have representatives from all 12 relevant departments. The Cantonment Boards of Rawalpindi and Chaklala will be responsible for cleaning the 11-kilometer stretch of Nullah Leh and associated storm drains that fall within their jurisdiction. A special survey by the Civil Defence Department has identified 20 high-risk locations along Nullah Leh and the storm drains. These include Javed Colony, Nadeem Colony, Arya Mohalla, Chah Sultan, New Katarian, Amar Pura Drain, Dhok Dalal Lai Bridge, Dhok Najoo, Mohalla Raja Sultan Drain, Hazara Colony, Ratta Amral, Mohanpura, Gawalmandi, Dhok Chiragh Din, Tench Bhatta Chowk, Dhok Khabba, Arya Mohalla (again), and Sadiqabad. The department has recommended enhanced monitoring and deeper desiltingby an additional two to three feetat these vulnerable points. According to the WASA spokesperson and Director of Administration, Umar Farooq, the cleanup is being treated as a top priority. Both heavy and light machinery is being used, and this year, even hard-to-reach areas in narrow, congested streets will be cleared. The desilting will improve water flow in both Nullah Leh and the storm drains. Moreover, the operation will continue beyond the initial cleanup until the end of the flood season.
Express Tribune
26-05-2025
- Express Tribune
Truckload of lubricant looted
Incidents of highway robberies are resurging on the M9 Motorway in Jamshoro, where two trucks carrying valuable cargo have been looted within a week. On Sunday, truck driver Kalaamuddin Khan reported to Lunikot police that robbers stole lubricant oil worth Rs140 million. He said a car intercepted their truck, and he and his brother were held at gunpoint, blindfolded, and tied up before being forced into the rear seat of the cabin. The suspects drove the truck to Bhit Shah, Matiari, where they vanished, leaving the container empty. The shipment, 21,300 liters of oil, was en route from Karachi to Faisalabad. The robbers also took their phones and cash. Although the complaint was filed, an FIR had yet to be registered by evening. Earlier, on May 17, a truck transporting Rs33 million worth of medicines from Karachi to Rawalpindi was looted similarly. Driver Rehman Hussain said the vehicle was intercepted around 3:35 am, and an FIR was registered at Jamshoro police station.
Express Tribune
23-05-2025
- Business
- Express Tribune
Provinces owe Rs161b for electricity charges
Say balancing of payments alone does not constitute economic planning. PHOTO: BLOOMBERG A Senate panel was told on Friday that the provincial governments have not yet paid a total of Rs161 billion that they owe to the federal government for electricity charges. The Senate Standing Committee on Power convened on Friday to discuss key issues including adjustments of provincial power dues through the National Finance Commission (NFC) and the privatisation of power distribution companies (DISCOs). During the meeting, the committee chairman, Senator Mohsin Aziz, said that the provinces claim that the federal government has not cleared pending dues. The Power Division officials stated that the provincial governments had not paid a total of Rs161 billion. Punjab owes the federal government Rs42 billion; Khyber Pakhtunkhwa, Rs10 billion; Sindh, Rs68 billion and Balochistan, Rs42 billion. The officials clarified that the amount is for power supplied to provincial departments, while federal dues may relate to hydel power adjustments. Minister for Power Awais Leghari said the matter was discussed with the Finance Ministry recently and that he has written to all provincial chief ministers for settlement of dues. Leghari informed the committee that following the reconstitution of DISCOS' boards, losses have been reduced by Rs140 billion as of March, adding that the government has assured the IMF of its commitment to privatise the DISCOs. "The government's role is not to run power distribution companies. The goal is to privatise all DISCOs within the next three years. In the first phase, three DISCOs will be privatised. A financial advisor is already working on the process and has submitted a due diligence report," he said. Leghari expressed confidence that the privatisation of the three companies will be completed within the next six months, although the committee chair noted it may be by June next year.
