FinMin claims opposition protests costing Pakistan Rs190bln daily

Pakistan Nov, 25 2024
FinMin claims opposition protests costing Pakistan Rs190bln daily
  • 111
  • 0

ISLAMABAD: Finance Minister Muhammad Aurangzeb has revealed the immense economic cost of opposition-led protests in Pakistan, claiming that the ongoing political unrest is causing daily losses of over Rs 190 billion. Addressing the media during a press conference on the backdrop of Pakistan Tehreek-e-Insaf’s (PTI) planned march towards Islamabad,

Aurangzeb stressed the urgent need for political stability to protect the country’s economic interests. The finance minister detailed the wide-ranging impact of protests, emphasizing how disruptions caused by such political activities affect key sectors of the economy. “The daily financial damage resulting from opposition-led protests, including lockdowns, is staggering,” Aurangzeb said. He further explained that protests obstruct tax collection, disrupt business activities, and negatively impact exports, leading to a cascading effect on the economy. The government also faces additional costs for maintaining law and order during these events, further exacerbating the financial burden.

According to a report compiled by the Ministry of Finance, the economic impact of these protests includes a daily GDP loss of approximately Rs 144 billion. In addition, disruptions to exports are estimated to cost around Rs 26 billion per day, while a drop in foreign direct investment (FDI) contributes to a loss of another Rs 3 billion daily. These figures reflect the broader strain on Pakistan’s economy due to the political instability fueled by protests.

Aurangzeb also pointed out the specific losses sustained by key sectors like agriculture and industry. He stated that the agricultural sector alone incurs daily losses of Rs 26 billion, while the industrial sector faces damages exceeding Rs 20 billion. These industries, which are crucial to Pakistan’s economic growth, are particularly vulnerable to the disruptions caused by political unrest.

The minister reiterated that political stability is crucial for the country’s economic recovery and growth. He called on all political parties to work together to resolve their differences and prioritize the well-being of the nation. “Protests and political instability are not just a threat to public safety, but also to the country’s financial health,” Aurangzeb said, emphasizing that the government is committed to restoring normalcy and ensuring the smooth functioning of the economy.

In a related development, Federal Minister for Petroleum Dr. Musadik Malik also criticized PTI’s leadership, accusing them of being indifferent to the release of their founder, Imran Khan. Speaking at a press briefing, Musadik Malik stressed that the government’s primary focus is on solving pressing public issues, particularly the economic challenges faced by the nation.

He pointed out that government measures have already led to a reduction in inflation and an increase in stock market performance, which is currently at an all-time high. Malik also called for national unity in the fight against extremism, highlighting the tragic situation in Parachinar, where residents have been protesting the loss of loved ones, but have not received any assistance from Khyber Pakhtunkhwa’s Chief Minister, Ali Amin Gandapur.

He questioned the PTI leadership’s commitment to resolving the country’s issues, stating that Gandapur had been absent from critical situations while attempting to instigate unrest in Punjab and Islamabad. “Where are the senior PTI leaders? There are no rallies visible in key cities like Lahore, Faisalabad, and Gujranwala,” he remarked. Both ministers’ comments reflect the ongoing tensions in Pakistan’s political landscape and underline the serious economic consequences of political protests. While the government remains focused on maintaining stability, opposition parties continue to challenge the status quo, leading to a stand-off that threatens to derail Pakistan’s economic recovery.

National Courier
National Courier https://www.dailynationalcourier.com/author/national-courier
Daily National Courier is a leading morning English newspaper of twelve pages covering all international and national political developments on 24/7 basis.

NC Big Stories

International Day of Disabled Persons

On Tuesday, the International Day of Disabled Persons was celebrated all over the world, but it is a matter of great regret that the nearly 35 million disabled people living here, who are called special persons but are not understood at all, are trea...

TONI&GUY South Pakistan celebrates 20 years of excellence in Karachi

TONI&GUY South Pakistan proudly marked 20 years of redefining hair artistry, innovation, and fashion with a grand celebration. This milestone event took place at the British Deputy High Commission in Karachi and was a spectacular showcase of cre...

Rabi Pirzada sparks marriage rumors

Former Pakistani singer and artist Rabi Pirzada has once again captured public attention, but this time, it's her personal life that's making headlines. Known for her spiritual transformation and artistic ventures, Rabi's recent cryptic post on soci...

Gold price in Pakistan rises by Rs700/tola

KARACHI: Gold prices in Pakistan rebounded on Tuesday, following a decline in the previous two sessions. The price of gold per tola increased by Rs700, reaching Rs275,200, while the price of 10 grams rose by Rs600 to Rs235,940, according to the All-...

More like this
Related

PM urges global collaboration to ta;ckle water challenges

ISLAMABAD: Stressing the need for collective action, Prime Minister Shehbaz Sharif yesterday said that strong political will and global leadership were vital to overcome the water crisis posing existential threat to nations around the world. Addressi...

COAS stresses constant preparedness to thwart threats

NAROWAL: Chief of Army Staff (COAS) General Syed Asim Munir has affirmed that the Pakistan Armed Forces are fully capable of safeguarding the territorial integrity and sovereignty of our beloved motherland against the entire spectrum of threats. In h...

PM Shehbaz orders strict action against Islamabad protesters

ISLAMABAD: Prime Minister Shehbaz Sharif has ordered authorities to take stringent measures against the protesters responsible for the martyrdom and injury of law enforcement personnel, as well as the destruction of public property during the violent...

PM commends mly’s role in curbing smuggling, reducing sugar prices

ISLAMABAD: Prime Minister Shehbaz Sharif commended the military’s role in eliminating smuggling from Afghanistan, which had driven up sugar prices. He noted that due to this crackdown, sugar prices had decreased and the country was even able to...
Need Help? Chat with us