ISLAMABAD: Minister for Commerce, Engineer Khurram Dastgir Khan Tuesday said that country’s economy was exposed to massive losses in the wake of politics of agitation and strike call given by Pakistan Tehreek-i-Insaf (PTI) all across the country.
“The PTI’s mounting turbulence in the country is causing an enormous loss not only to the national exchequer but also to the common people including daily wagers, small traders, labourers, farmers, shopkeepers and others”, the minister said in a statement issued here.
He said the export targets for the fiscal year 2014-15 might be affected as the government was expecting enhancement in trade following the Generalised System of Preferences (GSP) Plus status provide by European Union to Pakistan.
He said only one day shut down of the country would inflict losses of Rs.64 billion to the economy, adding the estimates were based only on the documented production of goods and services while indirect losses to the overall economy would be much more than what meets an eye.
The minister said that on Monday the nation witnessed the anti-state agenda of the PTI as it created the environment of agitation in Faisalabad, the industrial hub and textile capital of the country.
“Faisalabad city consists of around 70 percent of the country’s export-oriented textile sector which have a share of 68 per cent in total country’s exports”, the minister said adding the
city contributes more than US$ 5.5 billion on annual basis.
Moreover, he said the city’s value-added and export-oriented power looms sector provided a share of 83 per cent of cloth in the country’s total textile exports, besides being instrumental in providing jobs to millions of workers.
Khurram Dastgir Khan said the city remained tense on Monday and the Faisalabad Dry Port, which handles a per annum volume of over 33,000 export containers and 5,500 import containers, could also not work at its fullest potential.
He said due to the PTI strike millions of daily wagers
working in different industries and at other places in this city
remained deprived of their earning.
He was of the view that the economy could not afford huge losses
if this strike continued in other big cities.
Terming the PTI’s strike call detrimental to the national
economy, the minister said if such situation continued, it would be
great setback to the exporters as well as the country as they had
already made their commitments with the foreign buyers in which they
“In such stirring situation the traders and industrialists
might be blacklisted and the foreign markets which they secured
after hectic efforts will slip from their hands”, the minister
Dastgir said the country’s economy was on track before the
start of PTI’s sit-ins and protests, but Imran Khan deliberately
started denting the national economy and now the strike call in
different cities and subsequently shutting down the whole country
would cause a huge economic loss to the country.
May 21, 2018 0
The 2018 Boao Forum for Asia (BFA) annual conference is scheduled for April 8 to 11 in Boao, Hainan Province. The forum will be themed "An Open and Innovative Asia for a World of Greater Prosperity."
— The Daily Mail - People's Daily