• Friday, September 17, 2021
India Corona Update 
Total Fatalities 443,928
Total Cases 33,347,325
Today's Fatalities 431
Today's Cases 30,570
Pakistan Corona Update 
Total Fatalities 418,480
Total Cases 31,216,337
Today's Fatalities 3,998
Today's Cases 42,015
Sri Lanka Corona Update 
Total Fatalities 418,480
Total Cases 31,216,337
Today's Fatalities 3,998
Today's Cases 42,015
Bangladesh Corona Update 
Total Fatalities 418,480
Total Cases 31,216,337
Today's Fatalities 3,998
Today's Cases 42,015
UK Corona Update 
Total Fatalities 418,480
Total Cases 31,216,337
Today's Fatalities 3,998
Today's Cases 42,015
India corona update 
Total Fatalities 443,928
Total Cases 33,347,325
Today's Fatalities 431
Today's Cases 30,570

Business

Bangladesh businesses expect low profits this Eid-ul-Azha

People at New Market in Dhaka, Bangladesh. (Photo by MUNIR UZ ZAMAN/AFP via Getty Images)

By: Shilpa Sharma

BUSINESSES in Bangladesh are expected to make half of their regular profits during the key Eid-ul-Azha festival due to the coronavirus pandemic, the Dhaka Tribune reported.

Eid-ul-Azha is the last of the big festival economy in the Asian country.

The celebration of the festival mainly circles around livestock and the rawhide industry.

According to the Ministry of Fisheries and Livestock, out of 11.9 million animals eligible for sacrifice this year, 10 million could be sold and the transaction will be around Tk450 billion (£3.9bn) to Tk500bn (£4.3bn).

Cattle rearing is one of the largest economic activities in rural Bangladesh and a large number of people are dependent on it, especially during the Eid economy, Prof Mustafizur Rahman, a distinguished fellow of the Centre for Policy Dialogue (CPD) told the newspaper.

Besides, the leather industry which usually makes Tk12bn (£103 million) to Tk15bn (£130m) during this Eid, expects to make only Tk7bn (£60m) this year.

“We are ready to collect Rawhide. But like the last two years, we do not expect much profit in this sector,” Bangladesh Hide and Skin Merchant Association President Aftab Khan said.

Profits for the country’s spice market is also expected to come down to half this time like last year, spice merchants said.

After a two-week lockdown before Eid, markets are now finally open, but shopkeepers say the business is still in a lull.

Bangladesh Shop Owners Association President Helal Uddin said the demand for various luxury items including refrigerators, clothes and fashion products usually spikes around Eid-ul-Azha. But this year, sales are expected to be much less.

Eastern Eye

Related Stories

Eastern Eye

Videos

Mamta Handa on her chat show Be You, experience of…
Pranutan Bahl on Helmet, its direct-to-digital release, if Salman Khan…
Karan Nath on his journey in Bigg Boss OTT, his…