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Express Tribune
13 hours 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
Livestock sold by weight in Charsadda's village
As Eid-ul-Azha approaches, livestock markets across the country, including in Khyber-Pakhtunkhwa, are drawing large crowds. However, skyrocketing animal prices have made it increasingly difficult for the middle class to fulfill the ritual of sacrifice. In response to this challenge, traders in Nesata, a village in Charsadda district, have introduced an innovative pricing model — selling sacrificial animals based on weight. According to local sources, the rate for bulls is Rs900 per kilogram, while buffaloes are being sold at Rs680 per kilogram. This weight-based pricing model, known locally as 'wazan per sale', is proving to be cost-effective. Traders claim that buyers can save between Rs50,000 to Rs70,000 compared to conventional market prices. As a result, a significant number of people are flocking to Nesata to purchase animals after verifying their weight on a computerized scale. Sellers have installed digital weighing machines near the livestock markets, allowing buyers to get an accurate reading of the animal's weight before making a purchase. If a buyer finds the total price beyond their budget after the weighing, they are free to walk away - though they are required to pay a Rs100 fee for the weighing slip. The trend is gaining popularity, particularly among residents of Peshawar and nearby areas, who are now traveling to Nesata for more transparent and potentially economical livestock purchases. Located just two kilometers from the Charsadda Motorway Interchange, Nesata is fast becoming a hotspot for buyers seeking fairly priced sacrificial animals ahead of Eid. Meanwhile, with the disbursement of salaries to public and private sector employees, Eid shopping in the city has seen a significant surge. Markets are experiencing a dramatic increase in foot traffic, severely impacting the flow of traffic across major commercial areas. Alongside traditional Eid shopping, the purchase of sacrificial animals for Eid-ul-Azha is also gaining momentum. On Saturday, both shopping malls and livestock markets across the city witnessed heavy crowds.
Time of India
2 days ago
- Business
- Time of India
Business families to invest Rs25 crore in 50 Vidarbha startups
1 2 3 4 Nagpur: In a landmark initiative aimed at transforming Vidarbha's startup ecosystem, the Association for Industrial Development (AID) launched 'Family Cap Nagpur,' a pioneering funding platform that will see 50 family-run businesses each investing Rs50 lakh in 50 promising startups across the region. The announcement was made at the launch of AID's 'Vidarbha Advantage 2025' report, where Union minister Nitin Gadkari symbolically handed over a Rs50 lakh cheque to the programme's first beneficiary, Kraya Concepts Limited, co-founded by chartered accountant Pratik Loya and engineer Swar Gattani. Conceptualised by Shashikant Chaudhary, coordinator of AID's Startup Division, the 'Family Cap Nagpur' platform aims to provide more than just capital. "Our aim is to cultivate a vibrant startup ecosystem in Vidarbha by nurturing entrepreneurs with not just financial backing but also strategic mentorship and access to market opportunities," said Chaudhary, adding, "The investors will also provide business opportunities to these startups, helping them grow and expand. What started as an idea in a WhatsApp group is now a reality." The initiative is set to disburse a total of Rs25 crore in three to four phases over the next five years. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch CFD với công nghệ và tốc độ tốt hơn IC Markets Đăng ký Undo In its first phase, 10 prominent family-run businesses, including Shreyas Raisoni, Karnil Cheema, Ankur Cheema, Padmesh Gupta, Anup Khandelwal, Anand Sancheti, Ashish Kale, Pradeep Bansal and Dilip Bharde have come together to form a syndicate that will drive the programme forward. Ashish Kale, president of AID, described it as a transformative step for the region. "This initiative is a landmark step to transform Vidarbha's economic landscape by investing in its most innovative minds," he said. For Kraya Concepts Limited, the funding marks a major turning point. "We started in 2022 just after the Covid-19 pandemic and grew to a team of seven employees. The new initiative will provide additional funding in the future. We are truly thankful to the AID team for their valuable guidance and support," said Gattani. Kraya Concepts' valuation already stands in the range of a few crores, and the new funding is expected to further boost their operations. The broader goal of the 'Family Cap Nagpur' initiative is to address the critical gaps in funding, mentorship and innovation for startups in Vidarbha. By bringing together experienced family businesses and promising young entrepreneurs, AID hopes to create a dynamic environment that can help the region's startups thrive. # About 'Family Cap Nagpur' Total Investment: Rs25 crore Number of Startups Beneficiaries: 50 Investment per Startup: Rs50 lakh Number of Family-Run Businesses: 50 Disbursement: In 3-4 phases over the next 5 years First Startup Funded: Kraya Concepts Limited Support Offered: Financial backing, mentorship, market access # Key Backers Shreyas Raisoni Karnil Cheema Ankur Cheema Padmesh Gupta Anup Khandelwal Anand Sancheti Ashish Kale Pradeep Bansal Dilip Bharde
Time of India
2 days ago
- Business
- Time of India
Biz families to invest Rs25cr in 50 Vidarbha startups
Nagpur: In a landmark initiative aimed at transforming Vidarbha's startup ecosystem, the Association for Industrial Development (AID) launched 'Family Cap Nagpur,' a pioneering funding platform that will see 50 family-run businesses each investing Rs50 lakh in 50 promising startups across the region. The announcement was made at the launch of AID's 'Vidarbha Advantage 2025' report, where Union minister Nitin Gadkari symbolically handed over a Rs50 lakh cheque to the programme's first beneficiary, Kraya Concepts Limited, co-founded by chartered accountant Pratik Loya and engineer Swar Gattani. Conceptualised by Shashikant Chaudhary, coordinator of AID's Startup Division, the 'Family Cap Nagpur' platform aims to provide more than just capital. "Our aim is to cultivate a vibrant startup ecosystem in Vidarbha by nurturing entrepreneurs with not just financial backing but also strategic mentorship and access to market opportunities," said Chaudhary, adding, "The investors will also provide business opportunities to these startups, helping them grow and expand. What started as an idea in a WhatsApp group is now a reality." The initiative is set to disburse a total of Rs25 crore in three to four phases over the next five years. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch vàng CFDs với sàn môi giới tin cậy IC Markets Tìm hiểu thêm Undo In its first phase, 10 prominent family-run businesses, including Shreyas Raisoni, Karnil Cheema, Ankur Cheema, Padmesh Gupta, Anup Khandelwal, Anand Sancheti, Ashish Kale, Pradeep Bansal and Dilip Bharde have come together to form a syndicate that will drive the programme forward. Ashish Kale, president of AID, described it as a transformative step for the region. "This initiative is a landmark step to transform Vidarbha's economic landscape by investing in its most innovative minds," he said. For Kraya Concepts Limited, the funding marks a major turning point. "We started in 2022 just after the Covid-19 pandemic and grew to a team of seven employees. The new initiative will provide additional funding in the future. We are truly thankful to the AID team for their valuable guidance and support," said Gattani. Kraya Concepts' valuation already stands in the range of a few crores, and the new funding is expected to further boost their operations. The broader goal of the 'Family Cap Nagpur' initiative is to address the critical gaps in funding, mentorship and innovation for startups in Vidarbha. By bringing together experienced family businesses and promising young entrepreneurs, AID hopes to create a dynamic environment that can help the region's startups thrive. # About 'Family Cap Nagpur' Total Investment: Rs25 crore Number of Startups Beneficiaries: 50 Investment per Startup: Rs50 lakh Number of Family-Run Businesses: 50 Disbursement: In 3-4 phases over the next 5 years First Startup Funded: Kraya Concepts Limited Support Offered: Financial backing, mentorship, market access # Key Backers Shreyas Raisoni Karnil Cheema Ankur Cheema Padmesh Gupta Anup Khandelwal Anand Sancheti Ashish Kale Pradeep Bansal Dilip Bharde
Express Tribune
3 days ago
- Politics
- Express Tribune
PTI MNA, ex-MPA among 11 convicted in May 9 rioting case
PTI protesters take to the streets in Lahore on May 9, 2023. SCREENGRAB Listen to article The Islamabad Anti-Terrorism Court (ATC) on Friday convicted and sentenced 11 individuals to various prison terms and fines in connection with the violence that occurred on May 9, 2023. The charges against them included attacking the Ramna police station, assaulting police personnel, committing arson, and spreading terrorism. Among those convicted were Pakistan Tehreek-e-Insaf (PTI) Member of National Assembly Abdul Latif and former Khyber-Pakhtunkhwa MPA Wazirzada Kailashi. Following the announcement of the verdict, four of the convicts, Muhammad Akram, Mira Khan, Shahzeb, and Sohail Khan, were arrested from the court premises. Arrest warrants were issued for the remaining seven, namely Abdul Latif, Wazirzada Kailashi, Zaryab Khan, Samuel Robert, Abdul Basit, Shan Ali and Muhammad Yousuf. The verdict, delivered by ATC Judge Tahir Abbas Sipra, stated that the accused attacked the Ramna police station, opened fire, pelted stones and attempted to kill police officials. They also set motorcycles on fire. According to the court's decision, the accused were sentenced to 10 years in prison and fined Rs200,000 each for acts of terrorism. Moreover, they were sentenced to five years in prison and fined Rs50,000 each for attempting to kill police personnel; four years in prison and a fine of Rs40,000 each for burning motorcycles; another four years in prison and a Rs40,000 fine each for setting the police station on fire; three months in prison for obstructing police work; and one month in prison for violating Section 144 of the Code of Criminal Procedure (CrPC). The May 9 cases refer to violent attacks on state installations that followed the arrest of PTI founder Imran Khan on corruption charges in 2023. A number of individuals were arrested in these cases, which have been tried by both military courts and anti-terrorism courts in various cities. ATCs across the country continue to hear related cases. In April, a three-member bench of the Supreme Court, headed by Chief Justice Yahya Afridi, directed ATCs to conclude proceedings in May 9 cases within four months. In Lahore, 14 cases remain pending in two ATCs, which are currently hearing them on a daily basis at Kot Lakhpat Central Jail. However, a judge of one of these courts noted that the unavailability of case records was creating significant obstacles to meeting the Supreme Court's deadline. ATC Administrative Judge Manzer Ali Gill wrote to Punjab Prosecutor General Syed Farhad Ali Shah, stating that the police records were not being provided to the deputy prosecutor conducting the trial for various reasons. The judge emphasised that the matter had been brought to the attention of the prosecution office to take necessary steps to ensure that witnesses could be recorded on every hearing date. He cautioned that failing such action, the court would proceed according to the law. It has been observed that the majority of May 9 cases have faced adjournments due to the unavailability of relevant records. On each hearing date, police officials have informed the courts that the case records remain with the Supreme Court. (With input from our Lahore correspondent)
