Web Desk: Pakistan is moving from economic stabilisation toward growth, but disruptions caused by protests, strikes and sit-ins could inflict losses of up to Rs120 billion a day, Finance Minister Muhammad Aurangzeb said.
Speaking in Islamabad, Aurangzeb said interruptions to commercial activity could undermine the progress made on the economic front and place additional pressure on businesses and households.
The finance minister questioned the timing of marches and sit-ins, saying Pakistan needs continuity in economic activity as it seeks to build on recent stabilisation.
According to Aurangzeb, prolonged disruptions could prevent businesses from operating normally and result in substantial daily losses for the economy.
He said the impact would eventually be felt by the public, particularly workers who depend on daily wages and small businesses that rely on uninterrupted customer activity.
Strikes and road blockages can disrupt the movement of people, goods and services, affecting businesses across different sectors.
Aurangzeb said daily-wage workers were particularly vulnerable because even a temporary halt in commercial activity can cut off their immediate source of income.
Small businesses can also face revenue losses when markets, transport networks and other economic activities remain disrupted.
The finance minister also pointed to developments in the Middle East as another source of pressure on the global economy.
He said disruptions to supply chains, coupled with higher freight and insurance costs, were affecting international trade. Against this backdrop, the government is working to reduce domestic expenditure and contain costs, he added.
Despite these challenges, Aurangzeb said Pakistan’s economic indicators were showing signs of improvement.
He said remittances were continuing to rise, while the country’s foreign exchange reserves had reached a record level. Pakistan is also running a current-account surplus, according to the minister.
Aurangzeb said the government expects economic growth to gain further momentum as the country moves beyond the stabilisation phase.
He also attributed terrorist activity in Pakistan to hostile forces, without providing further details in the remarks cited.
Read more: 58 Afghan nationals detained in Balochistan as security forces foil smuggling attempt
