ISLAMABAD (July 03 2009): Country's economy suffered around $10 billion losses due to war on terror during 2008-09 fiscal, said Dr Hafiz Pasha, Chairman Penal of Economists of the Planning Commission, here on Thursday. He said this while talking to journalists after the launching ceremony of Human Development in South Asia Report 2008 at National Library.
The losses to the economy for war on terror were multi-dimensional, hurting investment, exports, economic activity, revenue and adding more people into the poverty. The estimated cost borne by the country was $10 billion, which included direct cost as well as indirect cost, he added.
It may be recalled that the Ministry of Finance had estimated $34.5 billion losses to Pakistan economy for supporting US war on terror from 2001 to 2008 and with the addition of $10 billion losses of last year the total losses to Pakistani economy has gone up to $44.5 billion.
To a question, Pasha said that that ongoing military operation is likely to cost national exchequer around $1 billion whereas estimated economic loss in Swat is around Rs 30 billion. Country's social sector has also suffered the most owing to prolonged war on terrorism and its economy was witnessed higher economic growth is now questioned how to put the things back on the track.
