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Home Business & Stock

Economy bleeds Rs. 190 billion each day amid protest chaos: Finance Minister

MM News Staff by MM News Staff
November 25, 2024
Reading Time: 1 min read
Finance Minister

(Image: Reuters)

Finance Minister Muhammad Aurangzeb stated that Pakistan incurs a staggering loss of Rs. 190 billion daily due to road closures and shutdowns prompted by opposition protests.

According to a report by Pak Observer on Monday, speaking to a TV channel, Aurangzeb explained that tax collections decline during lockdowns and protests, while business disruptions negatively impact exports. “These protests also lead to additional security expenses to maintain peace,” he said, noting significant losses in the IT and tech sectors.

His remarks come as the opposition party, led by PTI founder Imran Khan, marches towards Islamabad for a “do-or-die” protest at D-Chowk.

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Aurangzeb revealed that the Ministry of Finance has prepared a report estimating that the GDP suffers a daily loss of Rs. 144 billion due to protests. “The report indicates that export declines result in daily losses of Rs. 26 billion, while foreign direct investment drops by Rs. 3 billion per day,” he added.

He further stated that the provinces face separate losses, particularly in the agricultural sector, which incurs daily losses of Rs. 26 billion. The industrial sector is also hit hard, with losses exceeding Rs. 20 billion daily.

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