Pakistan has lost around Rs. 100 billion due to the total blackout acrossthe country on Monday as the government failed to restore power supply tofactories.
Former chairman Karachi Chamber of Commerce and Industry (KCCI) MuhammadIdrees told a national daily that Pakistan has recorded an economic loss ofaround Rs. 100 billion. “If one divides the GDP amount by 350-day,” hewould come to know the per day production amounts at over Rs100 billion aday,” he explained.
The business community is taking it all out on the government for the gridbreakdown, which occurred for the second time in less than three months ata time when the country is barely producing at factories due to a lack ofraw materials in the country’s high financial crisis.
The former KCCI chief claimed that economic losses would have been greaterthan Rs. 100 billion if industries were operating at full capacity. Otherbusiness people said Pakistan was already losing money due to a lack ofimported raw materials in the midst of the country’s currency crisis.
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According to the All Pakistan Textile Mills Association (APTMA), Pakistan’stextile sector incurred roughly Rs. 16.1 billion ($70 million) in lossesdue to a stoppage of industrial activities in the wake of yesterday’s majorpower breakdown.
Officials said the textile community has zero sympathies for the governmentat the moment as the economic losses incurred due to the industry’sinability to take care of export orders yesterday are weighing heavily onall producers.