ISLAMABAD: Federal Finance Minister Muhammad Aurangzeb has warned that protests, strikes and sit-ins could disrupt economic activity and cause losses of up to Rs 120 billion to Pakistan’s economy every day.
Speaking in Islamabad, the finance minister said Pakistan was moving from economic stabilisation towards growth, but disruptions caused by marches and sit-ins could affect the country’s economic progress.
Aurangzeb questioned the rationale behind protests and sit-ins under the current economic circumstances, saying any interruption to business activity would ultimately affect the public.
He said daily-wage workers and small businesses were particularly vulnerable during strikes and protests as disruptions could halt their regular income.
Global economic challenges
The finance minister also highlighted the impact of the situation in the Middle East on Pakistan and the global economy.
He said disruptions to supply chains, along with higher freight and insurance costs, were affecting international trade. The government, he added, was taking measures to reduce domestic expenditures.
Remittances, reserves improve
Aurangzeb said Pakistan’s remittances had continued to increase, while the country’s foreign exchange reserves had reached their highest level in history.
He also said Pakistan was maintaining a current account surplus and expressed hope that economic growth would gain further momentum in the coming days.
The finance minister further claimed that hostile forces were behind terrorism in the country.
