Friday, June 3, 2011

War on terror costs by Pakistan rose to $17.8b in FY10-11

Pakistan’s economy is under huge pressure due to the ‘war on terror’ as direct and indirect costs of the war rose up to $17.8 billion in the fiscal year 2010-11 whereas these losses were $2.669 billion in 2001-02 after 9/11, Pakistan Economic Survey 2010-11 reveals.
The survey says that the direct and indirect costs of war on terror incurred by Pakistan during the last 10 years amounted to enormous $ 67.93 billion or Rs 5,037 billion.
The chapter on Cost of War on Terror for Pakistan’s Economy, included as a special section in Pakistan Economic Survey 2010-11, says that the country’s economy is under immense pressure of the war on terror which has gone intense in the last 4 years. The report, while quoting the findings of the inter-ministerial committee constituted to assess the cost of war on terror, says that this war not only caused serious damage to the economy but also to the social fabrics of Pakistan as well.
The report says that at the start of this war, its cost to Pakistan was estimated at $ 2.669 billion in fiscal year 2001-02. The economy experienced enormous direct and indirect costs, which continued to rise from $ 2.669 billion in 2001-02 to $ 13.6 billion by 2009-10, and $ 17.8 billion in the current financial year 2010-11. It was likely to rise further.