By Loubna Flah
By Loubna Flah
Morocco World News
Casablanca, October 14, 2012
Besides its underlying religious connotation conveying the true meaning of sacrifice and commemorating the pilgrimage journey, the high cost of Aid Al Adha can also be a real financial burden for the most deprived segments in Moroccan society and even for middle class families.
According to the Moroccan daily Al Massae, the Democratic Organization for Labor executive council addressed a correspondence to the head of government Mr. Benkirane urging him to intervene personally In order to inject salaries for public administration employees before October 24th to enable them to buy sheep as the Islamic tradition suggests.
The trade union asserted in its letter to the head of government that inflation and the succession of money consuming events, namely Ramadan, Eid al Fitr and the start of the new School year burdened Moroccan households and reduced considerably their purchasing power.
Generally speaking, the hike in prices and living costs tend to damage employees wealth by discouraging savings which makes it hard for many households to plan for a more secured future. Inflation can be counterbalanced by increasing wages, a possibility totally ruled out in periods of high and persistent deficit rate.
Thus, Moroccan households could not save more assets for the Eid expenses which makes it impossible for many families to buy the sheep whose prices are likely to hike as the EId draws near.
Faced with all financial hardships, many parents will find themselves cornered and left with one solution: taking loans. Credit companies and banks often seize the opportunity to offer consumer loan packages especially designed for the Eid.
The prices of livestock are likely to reach record levels and go beyond the purchasing power of Moroccan households if salaries payment is further delayed especially for public sector employees.