ISLAMABAD: Federal Finance Minister Muhammad Aurangzeb has said Pakistan is moving from economic stability toward economic growth, warning that protests, marches and sit-ins could cause economic losses of up to Rs120 billion per day.
Speaking in Islamabad, Aurangzeb said marches and strikes could disrupt the country’s economic growth trajectory. He said the continuation of economic activities was essential and that disruptions caused by protests and sit-ins could result in billions of rupees in losses.
The finance minister said the impact of such disruptions would ultimately be felt by the public, particularly daily-wage workers and small businesses, which are among the most vulnerable to interruptions in economic activity.
Aurangzeb also said the situation in the Middle East was affecting Pakistan’s economy. Disruptions to supply chains, along with higher freight and insurance costs, were affecting global trade, he said, adding that the government was taking measures to reduce expenditures.
The finance minister said remittances were continuing to increase and foreign exchange reserves had reached their highest level in the country’s history. He added that Pakistan’s current account was in surplus and expressed optimism that economic growth would accelerate further.
Aurangzeb further alleged that hostile forces were behind terrorist activities taking place in Pakistan.