FinMin Says Long Marches, Sit-Ins Could Cause Rs120bn Daily Loss
He said disruptions to economic activity could cut services and industrial output by Rs111 billion a day and add pressure on trade and revenue.
- Finance Minister Senator Muhammad Aurangzeb warned Sunday that planned protests could cost Pakistan's economy Rs120 billion daily, describing the disruptions as "self-inflicted pain" during a press conference in Islamabad.
- Pakistan has recently transitioned from economic stabilization to growth, with GDP reaching 3.7% last year and projected to exceed 4% this year, a recovery Aurangzeb cautioned could be undermined by domestic unrest.
- The projected daily losses include Rs86 billion from services, Rs25 billion from industry, Rs9 billion from agriculture, and Rs17 billion in government revenue, according to Aurangzeb's assessment.
- Jamaat-E-Islami, Pakistan Tehreek-e-Insaf, and Kissan Ittehad have announced separate protest campaigns in Islamabad, prompting Aurangzeb to call for dialogue to resolve differences.
- Foreign direct investment reached $311 million in August, emphasizing the importance of stability for sustained growth as the government continues efforts to broaden the tax base.
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Marches, sit-ins may cause Rs120bn daily loss to exchequer, warns FinMin Aurangzeb
FinMin Aurangzeb says govt working to reduce expenditure.Urges negotiations and consensus to resolve issues.JI and PTI announced separate protest campaigns.Finance Minister Muhammad Aurangzeb has termed planned marches and sit-ins...
Protests, Sit-Ins Could Cost Pakistan Rs120 Billion Daily, Finance Minister Warns
ISLAMABAD:Finance Minister Muhammad Aurangzeb has warned that protests, strikes and sit-ins could cause Pakistan’s economy an estimated loss of Rs120 billion per day, potentially disrupting the country’s transition from economic stabilisation to growth. Speaking to the media, Aurangzeb said Pakistan’s foreign exchange reserves had reached a record level, the current account was in surplus and […]
Protests, sit-ins could cause Rs120bn daily economic loss: FM Aurangzeb
F.P. Report ISLAMABAD : Finance Minister Muhammad Aurangzeb has said protests, sit-ins and strikes could cause an estimated loss of Rs120 billion to Pakistan’s economy each day as the country moves from economic stabilisation towards growth. Speaking to the media, Aurangzeb said the country’s foreign exchange reserves had reached their highest level in its history, […]
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