Rs. 190 billion is a sum of money that Pakistan loses daily due to unwanted lockdowns inflicted upon the country by federal government actions.
The Finance Ministry has informed that the unnecessary imposition of the lockdown by the present federal government costs Pakistan a staggering loss of Rs. 190 billion daily. A Saturday last witnessed one of the worst lockdowns in recent history after the government shut major transport links 48 hours prior to the scheduled protest by its opponents in Islamabad. This work, the government calls it, is “repair work,” although the connotation is far richer than this.
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An internal publication by the Finance Ministry estimated that the disruption has meant an Rs. 144 billion loss of DDPR – another Rs. 16 billion in loss to exports and another Rs. 26 billion in loss to FBR. Direct foreign investment accounts for an additional Rs. 3 billion loss in the daily setting. Among the reports, such closures damage supply chains and disturb industries and their agricultural outputs while inflating food prices due to transport problems. The ministry rather calculated a lower figure into daily GDP, going with Rs. 198 billion instead of the expected Rs. 342 billion.
Political Risks
Ongoing political risks are worsening the fiscal deficit, undermining GDP growth, and deterring growth-inducing foreign investment, warned the ministry. The report stressed that existing turmoil affects straightaway society, the economy, and eventually politics in the longer term.
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Conclusion: Pakistan loses a lot due to unnecessary lockdowns from the federal government and should incorporate explicit measures into its agenda for adjusting future political distractions more carefully without hurting the economy.