Pakistan can earn Rs100 billion through livestock export to Saudi Arabia

Livestock experts said that Pakistan could save yearly Rs100 billion through the export of sacrificial animals to Saudi Arabia during the Hajj season.

Earlier, Saudi Foreign Minister Prince Faisal bin Farhan Al Saud, during his visit to Islamabad, reiterated that the kingdom would play its all-out role in the economic development of the country.

Following the visit, Pakistan is hopeful that Saudi Arabia is likely to yield investments worth billions of dollars for the country's various economic sectors.

However, Pakistan can also earn billions of rupees annually from its livestock sector.

It should be noted that every year Saudi Arabia imports about 20 to 30 million animals from Australia, Somalia, Yemen and other countries to be sacrificed by the pilgrims and the locals on the occasion of Eid-ul-Adha.

Moreover, Pakistan could earn Rs50 billion in foreign exchange annually by exporting halal meat to the Kingdom.

The South Asian country had already signed an agreement with Saudi Arabia’s Najd Gateway Holding Company to "cultivate 5,000 acres of alfalfa cattle fodder" for export purposes.

It is worth mentioning here that the livestock sector in Pakistan contributes about 62% to the agricultural GDP and 14.0% to the national GDP.