Protests, Sit-ins Could Cost Economy Rs120 Billion Daily: Finance Minister
He further said that “enemy forces” were behind terrorism taking place in the country.
Finance Minister Senator Muhammad Aurangzeb has warned that protests, strikes and sit-ins could cause an estimated Rs120 billion daily loss to Pakistan’s economy, saying the country is moving from economic stability towards economic growth.
Speaking to the media, Aurangzeb said Pakistan’s foreign exchange reserves had reached their highest level in the country’s history, while the current account remained in surplus and remittances continued to increase.
He said Pakistan’s economic journey from stability to growth was continuing, despite challenges arising from the situation in the Middle East.
“The situation in the Middle East is affecting everyone,” the finance minister said, adding that the regional crisis was creating major challenges for global trade.
He said disruptions to supply chains, along with rising freight and insurance costs, were affecting international trade.
Against this backdrop, Aurangzeb questioned calls for marches, strikes and sit-ins, saying such activities could disrupt Pakistan’s economic growth trajectory.
“Protests and sit-ins will cause a loss of Rs120 billion to the economy every day,” he said.
According to the finance minister, any disruption to economic activity could result in losses of around Rs86 billion per day to the services sector and approximately Rs25 billion to the industrial sector, while the government could also face an estimated Rs17 billion in revenue losses.
Aurangzeb said disruption to economic activity could amount to self-inflicted damage for Pakistan.
He further said that “enemy forces” were behind terrorism taking place in the country.
