Pakistani Business Council Chief Puts Trade Losses at $40B

Pakistan has incurred an estimated $40 billion in economic losses since commercial trade with India was suspended in 2019, PakIndia Business Council chairman Noor Muhammad Qasuri said, calling for trade to resume. The figure is his assessment; the reports carrying his statement do not provide calculations or independent verification of the estimate. Qasuri said the suspension had forced Pakistani businesses to source raw materials and other products from more distant markets, increasing transportation and freight costs and extending delivery times. He argued that renewed commerce could reduce those expenses and improve access to supplies. He estimated that Pakistan’s pharmaceutical industry could save $2 billion to $3 billion annually if it resumed importing raw materials available in India. The estimate describes potential yearly savings, rather than a measured reduction in current costs. Qasuri also put textile mills’ additional cotton-sourcing costs at about $5 billion. He linked the expense to declining domestic cotton production, saying mills had turned to suppliers in Brazil, Egypt, China and the United States. He said farmers in traditional cotton-growing regions were...