Inside Financial Markets

Pakistan’s economy boosts up during months of Muharram and Safar: Report

karbalaPakistan’s economy boosts up during months of Muharram and Safar: Report

It has been stated in a report that an average amount of 148 billion rupees are spent during the months of Muharram and Safar each year. Since the arrangements of Niaz are common in Pakistani culture such religious arrangements keep taking place in the entire country from 1st Muharram till Chehlum. According to an estimate, if the expenditure of 30% families are taken into account it equals to 24 billion rupees. The approximate cost of an average of 30 mourning congregations and processions in each of 200 cities is 6 billion rupees. This expenditure in different areas causes a growth in business and employment.

According to the report, 36 crore rupees are spent each year on millions of CDs of Nohas, mourning congregation of women held at least once in each house and according to 10 thousand per congregation the total amount becomes 48 billion rupees. With an estimate of 10 thousand per azakhana, the approximate sum becomes 10 billion rupees. People who visit Iraq for Ziarats causes earning of around 2 billion rupees to the aviation sector and tour operators. If other miscellaneous expenditure is taken around 5 billion then it can be said that 148 billion rupees earned during Muharram causes growth in business.

On the other hand, this report has nullified the propaganda by the nefarious terrorist groups of considering Muharram as a burden on the economy. set aside the months of Muharram and Safar, if we only talk about 9th and 10th Muharram the growth that the country’s economy experience during these two days does not take place in even any other whole month.


Ahsan Baig

The Canadian Securities Institute


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Inside Financial Markets was a joint publication of Pakistan Stock Exchange (PSX)and Society of Technical Analysts Pakistan (STAP)