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- Finance Ministry’s estimates exclude losses from IT, telecom sectors and provincial economies
- Imran Khan has called for protests demanding his release, with demonstrations also held abroad
ISLAMABAD: Pakistan’s Ministry of Finance has prepared a report estimating economic losses of Rs190 billion ($684 million) per day due to political protests, Federal Finance Minister Muhammad Aurangzeb said on Sunday, as supporters of jailed former prime minister Imran Khan march toward Islamabad to demand his release.
The protest, led by Khan’s Pakistan Tehreek-e-Insaf (PTI) party, has effectively cut off the federal capital from other cities, with authorities using shipping containers to seal all entry and exit points and announcing the closure of all educational institutions in Islamabad.
A view of a convoy by supporters of the former Pakistani Prime Minister Imran Khan’s party Pakistan Tehreek-e-Insaf (PTI), as they head toward Islamabad, during an anti-government rally in Peshawar, Pakistan, on November 24, 2024. (REUTERS)
The disruption has also impacted small businesses, with slow Internet and telecom services further compounding the economic losses.
“Protests result in a daily loss of Rs190 billion,” the finance minister said in a statement circulated by his office, warning of repercussions for the national economy.
According to the ministry’s report, the GDP suffers a daily loss of Rs144 billion, accounting for the largest share of the economic impact. Additionally, a decline in exports results in a daily loss of Rs26 billion, while disruptions in foreign direct investment contribute Rs3 billion to the daily losses.
Police personnel stand guard at a closed road before a protest by supporters of former Prime Minister Imran Khan's Pakistan Tehreek-e-Insaf (PTI) party for Khan's release in Lahore on November 24, 2024. (AFP)
Losses in the IT and telecom sectors are significant but separate from these figures.
“The federal government’s daily loss is Rs190 billion, while provincial losses are even higher,” Aurangzeb noted, without providing detailed provincial breakdowns.
Khan, who has been incarcerated for over a year on charges he claims are politically motivated, has urged his followers to rally both in Pakistan and abroad.
A worker places shipping containers to close a road ahead of a planned rally by supporters of imprisoned former Prime Minister Imran Khan’s Pakistan Tehreek-e-Insaf party, in Islamabad, Pakistan, on November 23, 2024. (AP)
PTI supporters in countries such as the United Kingdom, France, Sweden, Spain and Japan have also organized demonstrations, calling for the former prime minister’s release.
As tensions persist, the government remains firm in its resolve to maintain public order, with Finance Minister Aurangzeb stressing that the ongoing unrest is severely undermining the country’s economic recovery efforts.
Supporters of Pakistan Tehreek-e-Insaf (PTI) party and former Pakistan's Prime Minister Imran Khan shout slogans as they take part in a protest rally for the release of their leader Khan, in Peshawar on November 24, 2024. (AN Photo)