Finance Minister Muhammad Aurangzeb has highlighted the severe economic impact of calls for opposition-led protests and lockdowns, estimating daily losses of Rs190 billion to the national economy.
Speaking to the media, the finance minister elaborated that lockdowns and protests significantly reduce tax collections and affect exports due to disruptions in business. According to Aurangzeb, the Ministry of Finance has prepared a comprehensive report detailing the financial toll:
- The national GDP suffers a daily loss of Rs144 billion due to business shutdowns and disruptions.
- The reduction in exports alone accounts for a daily loss of Rs26 billion.
- Daily losses in foreign direct investment are estimated at Rs3 billion.
- The agricultural and industrial sectors lose Rs26 billion and Rs20 billion daily, respectively.
- Shutdowns in IT and telecom sectors have caused additional losses, impacting not only revenue but also societal functionality.
Furthermore, the losses incurred by the provinces due to protests are besides these losses, Aurangzeb claimed.
The finance minister also pointed out that additional expenses are incurred to ensure security measures to maintain public order during these protests. The losses in the IT and telecom sectors are in addition to this, which have a negative impact on society, he added.
Aurangzeb stressed that such economic disruptions deter foreign investors and harm the nation’s long-term growth prospects. "The financial implications of these protests are crippling our economy and directly impacting the lives of ordinary citizens," he stated.
.jpg&w=256&q=75 "Holiday announced on July 22")
