Long marches, strikes, sit-ins may cost Pakistan’s economy Rs120b a day: Aurangzeb

Finance Minister Muhammad Aurangzeb has cautioned that long marches, sit-ins and strikes could cost the economy roughly Rs120 billion each day, a warning reported by The Express Tribune. He termed such disruption “self-inflicted pain” at a moment when Pakistan is seeking to turn stabilisation into lasting growth. The remarks came after Jamaat-e-Islami, Kissan Ittehad and PTI announced long marches in Islamabad for the coming week.

The three groups are protesting different matters: Jamaat-e-Islami wants the petroleum development levy removed, Kissan Ittehad is seeking farmer relief, and PTI wants Imran Khan freed from prison. Aurangzeb said a government assessment, prepared with the Planning Commission’s economic wing, projects daily losses of Rs86 billion in services, Rs25 billion in industry and Rs9 billion in agriculture. He also estimated a revenue loss of around Rs17 billion for the government.

Exports are another concern, since Aurangzeb put daily goods exports at about $90 million and warned that in a worst case they could fall by nearly half. He also pointed to the Gulf situation, the Bab el-Mandeb tensions and higher freight and insurance costs already squeezing exporters. Aurangzeb cited foreign direct investment of $311 million in August and called stability the basic requirement for further inflows.