Terror war will now cost Pak 8 billion dollars per annum

November 14th, 2008 - 2:48 pm ICT by ANI  

Islamabad, Nov 14 (ANI): Estimates compiled by Pakistans Finance Ministry indicate that the direct and indirect cost of the war-on-terror borne by Pakistan was likely to increase to 8 billion dollars per annum in the next couple of years, from the current 6 billion dollars.

An official source said that direct and indirect losses to Pakistans economy due to the war on terror have been estimated at 34.5 billion dollars.

According to the official, the loss of lives and economic cost imposed by the war was also now rising to an unbearable level, and a very negligible portion of these costs was defrayed by the governments development partners.

Since 2001, losses of 5 billion dollars have been estimated in foreign direct investment, more than 5 billion dollars in exports and 5.5 billion dollars in privatisation, the Daily Times quoted the unnamed official as saying.

Besides, according to the paper, there has also been deterioration in law and order, and also a drop in foreign investment. Travel advisories have been issued against Pakistan by the United States and other major allies in the war on terror, which has resulted in a reduction in the number of intending investors, foreign buyers interested in taking part in the privatisation of major national assets, he added. (ANI)

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