Planning and Development Minister Ahsan Iqbal claimed on Tuesday that the ongoing anti-government protests in Islamabad had caused a financial loss of Rs1,000 billion to the country’s fragile economy.
Addressing a press conference, the minister said that the allegations levelled by PTI chief Imran Khan were not only damaging his own credibility, but were also unnerving investors.
The minister stated that the devaluation of the rupee against the US dollar and the constantly fluctuating exchange rate have added Rs 250 billion to Pakistan’s external debt.
According to Iqbal, the stock exchange crashed from 29,000 to 28,000 points which caused a loss of Rs 350 billion to the economy. Subsequently, the inflationary price of exports added another Rs 225 billion to the burgeoning list of losses incurred by the economy over the past few weeks.
In addition, the economy also suffered another blow amounting to Rs 100 billion due to an increase in petroleum prices which kicked in as the value of the rupee plummeted. He said the PTI chief was also spreading misinformation about the Chinese president’s visit to Pakistan.
Published in The Express Tribune, September 10th, 2014
COMMENTS (3)
Comments are moderated and generally will be posted if they are on-topic and not abusive.
For more information, please see our Comments FAQ
1724926799-0/Untitled-design-(7)1724926799-0-270x192.webp "ji announces protests over rising electricity prices")
1736332856-0/Untitled-design-(20)1736332856-0-270x192.webp "kourtney kardashian s stepdaughter alabama barker debuts striking new look after recent er visit")
1736334465-0/sidra--(45)1736334465-0-270x192.webp "sindh introduces ev taxis for unemployed youth")
and what about the money looted by the corrupt?
Ahsan Iqbal , why are you telling lie ? and quoting wrong Figures ! Have you ever said how much amount is misused by the Corrupt Politician sitting in Assemblies . As per International reports millions of rupees go into the pockets of these corrupt politicians on daily basis in shape of bribe , commission and kickbacks . Let us confirm one thing , have you ever think that one day you have to die and will stand on Dooms day for judgement .
there is no transparency in system. Throw any number who cares about accuracy? Please post number of daily looses due to corruption by politician who were selected and not elected.