ISLAMABAD: Federal Minister for Planning, Development and Reform, Professor Ahsan Iqbal Tuesday said that that ongoing sit-ins in the federal capital inflicted losses of about Rs.1000 billion to the national economy and advised Chairman Pakistan Tehreek-i-Insaf (PTI), Imran Khan to end the protest for the benefit of the whole country.
Ahsan Iqbal, flanked by Minister of State for IT and Telecom Anusha Rehman and Chairman Privatization Commission Muhammad Zubair, was addressing a press conference here.
The minister questioned that Imran Khan must say on whose advice he was working on the objective of inflicting great losses to the national economy.
He said that it was high time that PTI Chairman puts an end to the sit-in and plays his role for the relief and rehabilitation of flood-affected people of the country.
Giving break up figures of the losses, the federal minister said, the depreciation of Pakistan rupee against dollar by 4.3% from Rs.98 on August 4 to Rs.103 on August 25 increased the burden of foreign debt by Rs.250 billion.
He said that the Karachi Stock Exchange’s (KSE) benchmark 100-share index also decreased from about 30,000 points in August 4 to 28,500 points that resulted in the loss of Rs.350 billion in the market.
The minister said that drop in rupees value against dollar increased import bill, hence caused inflationary impact of about Rs.225 to 250billion.
He said that the depreciation of rupee also resulted in increase of fuel prices which could not be passed on to the end consumer, hence causing loss of rupees 100-150 billion.