Miftah Ismail highlights Rs 300B daily loss amid political instability

Former finance minister Miftah Ismail has warned that ongoing political turmoil and shutdowns are causing Pakistan’s gross domestic product (GDP) to suffer a daily loss of Rs 300 billion. He urged political parties to engage in dialogue to address the instability.

Addressing the Pakistan Tehreek-e-Insaf (PTI)'s planned sit-in, Ismail suggested the party focus on fostering democracy rather than solely advocating for the release of its jailed leader, Imran Khan. “Shah Mehmood Qureshi, Yasmin Rashid, and other PTI leaders are also imprisoned, but the party seems fixated only on Khan’s release,” he remarked.

He criticized the economic repercussions of internet shutdowns in major cities, including Lahore, Karachi, and Islamabad, which contribute significantly to daily losses. “Even if only Lahore or Islamabad are shut down, it results in a loss of Rs 100 to Rs 125 billion per day,” he noted. The impact on education due to school closures was also highlighted.

Ismail pointed to disputes over the transparency of elections and violations of the constitution, emphasizing the need to restore judicial independence. He dismissed the potential impact of PTI’s planned protests, stating, “Even if 20,000 or 100,000 people rally, it won’t make a difference,” and criticized the use of state machinery in such demonstrations as illegal.

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