loader image

Countrywide Protests Costing Rs. 100-150 Billion a Day: Economists

The countrywide road blockades and supply chain disruptions amid the Pakistan Tehreek-e-Insaf (PTI)’s Azadi March have caused an estimated loss of around Rs. 100-150 billion a day to the national economy.

This was stated by economists and industrialists in a conversation with ProPakistani. However, these estimates are solely the opinions of these renowned economists and industrialists and are not rooted in any firm studies.

The prevailing uncertainty in the country is also negatively impacting investment while hindering daily wage workers and laborers.

The former adviser to the Ministry of Finance, Dr. Ashfaque Hassan Khan, said that Pakistan’s GDP size is $383 billion, which means over one billion dollars per day. With the current rate of the rupee against the dollar, the country suffers a loss of around Rs. 200 billion per day if there is a nationwide standstill, he added.

The Head of Research at the Pak Kuwait Investment Company, Samiullah Tariq, stated that the country faces losses of around $1 billion per day if it comes to a total standstill. However, due to the road blockade, around 50-70 percent of the country came to a standstill on Wednesday and is estimated to have suffered around $500-$700 million in losses.

Deploring the closure of roads across the country amid the call for the long march, the President of the Rawalpindi Chamber of Commerce and Industry (RCCI), Nadeem Rauf, said that the closure of main roads, including the Motorway and GT Road, has suspended economic activity in the country. He explained that Rawalpindi is the main hub for the transport of goods to Azad Jammu and Kashmir, Punjab, and Khyber Pakhtunkhwa, and the blockade has disrupted the supply chain, which ultimately increases the misery of the masses.

Rauf called for the government to show maturity and wisdom in handling the situation amicably.

Pakistan’s economy is already going through a difficult and challenging phase, and political and economic uncertainty has added to its woes. The daily volume of loss is in billions, Rauf said. He further added that the RCCI has repeatedly demanded that all political parties must sign a charter of the economy and will continue to be vocal regarding the issue.

Courtesy: ProPakistani

Leave a Reply

Your email address will not be published.