Pakistan has reportedly incurred losses of nearly Rs 127 crore in just over two months after closing its airspace to India, following the suspension of the Indus Waters Treaty after the April 22 Pahalgam terror attack.
According to a report, Pakistan’s Ministry of Defence informed the National Assembly that the country incurred losses in overflight revenue amounting to nearly Rs 127 crore between April 24 and June 30.
While submitting the data on losses, Pakistan’s Defence Ministry reportedly clarified that the figures represent “revenue shortfalls, not overall financial losses,” and noted that overflight and aeronautical charges have remained unchanged.
“Although financial losses occur, sovereignty and national defence take priority over economic considerations,” the Defence Ministry said in a statement.
Pakistan closed its airspace to all Indian airlines on April 24 in response to India’s decision to suspend the 1960 Indus Waters Treaty. Islamabad warned that any stoppage or diversion of water under the pact would be considered an “act of war.”
Pakistan has halted the use of its airspace for all Indian aircraft, resulting in nearly a 20 per cent drop in transit traffic, according to a report by Dawn.
The report also noted that a similar airspace closure in 2019, following India’s air strike on a Jaish-e-Mohammed terror camp in Balakot, cost Pakistan approximately Rs 235 crore.
Airspace restrictions between the two countries continue. India has extended its ban on Pakistani flights until August 23, while Pakistan is expected to keep its airspace closed to Indian aircraft until the end of the month.
