Current protests have paralyzed Pakistan’s economy: minister
Islamabad, August 25, 2014 (PPI-OT): Minister for Commerce, Engr. Khurram Dastgir Khan has said that the current protests have paralyzed Pakistan’s economy and the direct losses to the economy have reached up to Rs 800 billion while the indirect losses, according to estimates have amounted to several hundred billions.
The devaluation of rupee against dollar and the constantly fluctuating exchange rate has raised Pakistan’s external debt by Rs. 350 billion. The uncertainty caused by this political turmoil has made the investors skeptic and they have lost Rs. 450 billion in Stock Exchange, the Minister added.
The Minister was of the view that the unbridled desire of the protestant to achieve power by hook or by crook has tarnished the international image of the country and the news of political instability has put the willing foreign investor in doubt.
The heads of states of China and Sri Lanka have postponed their important visits due to the prevailing uncertainty and the country could not hold important economic negotiations with these economic partners. The Minister said that the negative politics being played in the country is misleading the youth and the country will have to strive hard to erase the harmful effects of this upheaval on the economy.
Despite all immature political acts by certain parties to derail the democratically elected government, the pragmatic leadership of Prime Minister is committed to address grave challenges of this nation. The vision encompasses restructuring of the economy, initiating projects to generate energy and addressing extremism in the country. The leadership believes in rule of law, supremacy of judiciary and fair execution of governmental policies to raise this nation among the comity of developed countries.
Recently, the Planning Commission of Pakistan has launched Vision 2025, under the visionary guidance of Prime Minister of Pakistan. It serves as a detailed road map for the economic revival to address future challenges.
It is pertinent to mention here, that social stability and development issues are directly linked to the economic sustainability in the country. For smooth journey towards development, it is unavoidable to set aside the democratic process in the country. Need of the hour is to follow an approach which could address the national economic challenges with collective wisdom.
For more information, contact:
Haji Ahmed Malik
Principal Information Officer
Press Information Department (PID)
Tel: +92-51-9252323 and +92-51-9252324
Fax: +92-51-9252325 and +92-51-9252326
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