ISLAMABAD: Finance Minister Senator Muhammad Aurangzeb has said Pakistan is moving from economic stabilisation towards economic growth, warning that protests, strikes and sit-ins could cause losses of up to Rs120 billion to the economy every day.
Speaking to the media, the finance minister said the country’s foreign exchange reserves had reached their highest level in its history, while the current account remained in surplus and remittances continued to grow.
He said Pakistan’s economic trajectory was moving from stabilisation towards sustainable growth, adding that disruptions to economic activity could undermine this progress.
Commenting on the situation in the Middle East, Aurangzeb said the ongoing developments were affecting countries around the world and posed significant challenges to global trade. Disruptions to supply chains, along with higher freight and insurance costs, were putting additional pressure on international trade, he added.
The finance minister said calls for marches, strikes and sit-ins at a time of economic recovery were difficult to understand, warning that prolonged disruptions could affect the country’s growth trajectory.
According to Aurangzeb, a disruption to economic activity could result in losses of around Rs86 billion per day in the services sector and approximately Rs25 billion in the industrial sector. The government could also face an estimated revenue loss of Rs17 billion, he added.
He described a disruption in economic activity as a potential self-inflicted economic loss for the country.
Aurangzeb further alleged that hostile forces were behind terrorist activities taking place in the country.
It is to be noted that Jamaat-e-Islami and Pakistan Tehreek-e-Insaf have announced their protests in Islamabad.
Read more: JI launches its march to Islamabad from Karachi
Jamaat-e-Islami chief Hafiz Naeem ur Reehman said that the long march has started, “Now, the government have only way out to provide relief to people”.
JI leader was leading the train march from Karachi Cantt railway station.
The Jamaat’s march has entered in its second phase as hundreds of the party’s activists accompanied to Hafiz Naeem.
Before launching the march to Islamabad, the party ended its protest sit-in at the Press Club Chowk and workers moved to the Cantt railway station.
“The protest will only end when the levy’s extortion will be ended,” talking to media JI leader said.
