Road blockades cost kitty Rs100bn-150bn per day: economists

ISLAMABAD: The estimated loss to the national economy is around Rs100-150 billion per day on account of country-wide road blockades and supply chain disruptions amid Pakistan Tehreek-e-Insaf (PTI)’s Azadi March.

This was the consensus among economists and industrialists while talking to Business Recorder.

The prevailing uncertainty in the country is also negatively impacting on investment, besides keeping daily wagers and labourers to go without gainful employment.

Former adviser to finance ministry Dr Ashfaque Hassan Khan said that the GDP size of the country is $383 billion which means over one billion dollars per day. With the current rate of rupee against dollar the country suffers around Rs200 billion loss per day if there is a total standstill in the country Khan added.

Samiullah Tariq, Head of Research at Pak Kuwait Investment Company stated that the country faces around one billion dollars per day loss if it comes to a total standstill. However, he said that due to road blockade around 50-70 percent of the country was closed on Wednesday and it is estimated to have suffered around $500-$700 million loss.

Deploring the road closure across the country amid the long march call, Rawalpindi Chamber of Commerce and Industry (RCCI) President Nadeem Rauf said that closure of main roads including Motorway and GT road halted economic activity in the country.

Rawalpindi is the main hub for goods transport to Azad Jammu and Kashmir (AJK), Punjab and Khyber Pakhtunkhwa, and closure of roads disrupted the supply chain which ultimately increases the miseries of the masses. He stressed on the government to show maturity and wisdom and handle the situation amicably.

Pakistan economy is already going through difficult and challenging phase and political and economic uncertainty has added to its woes. The daily volume of loss is in billions, he further contended.

He said that RCCI has been vocal and again demands that all political parties must sign a charter of economy.

Copyright Business Recorder, 2022