SBP reveals Pakistan's loss of $118bn for 'War on terror'
The State Bank of Pakistan (SBP) in its annual report on Thursday showed that extremist violence cost the country $118.3bn in direct and indirect losses in 14-years duration from 2002 to 2016.
“Both economic growth and social sector development have been severely hampered by terrorism-related incidents,” the report said.
Pakistan became a key US ally in the fight against extremism after the 9/11 attacks proved as an impetus for US invasion of Afghanistan.
A Coalition Support Fund was approved by the US to support Pakistan in the war, with an annual release of around $1bn since 2002. By last year Pakistan had received a total of $14bn.
The SBP said that apart from causing immeasurable human suffering, including casualties and mass displacement, the war severely hindered foreign investment, stall domestic investment, freeze exports, and slow down trade.
- Pakistan PM, Saudi crown prince vow to further solidify bilateral ties01:38 PM | 15 Aug, 2022
- British Council partners with Koel Gallery on Art for Climate Change ...01:07 PM | 15 Aug, 2022
- Amazon suspends thousands of Pakistani sellers’ accounts12:47 PM | 15 Aug, 2022
- Mufti Taqi Usmani slams dancing performance at official Independence ...12:28 PM | 15 Aug, 2022
- Pakistan’s Covid-19 positivity ratio drops to 2.54%11:47 AM | 15 Aug, 2022
- Famed ‘Fiza-Shiza’ actor Kiran Tabier welcomes first child09:16 AM | 15 Aug, 2022
- Saboor Aly wins hearts with stunning photos in bridal outfit07:06 PM | 14 Aug, 2022
- Faiza Khan pays tribute to legendary Nazia Hassan with a sweet video09:41 PM | 14 Aug, 2022
- Pakistan ranks second worst on gender inequality10:55 PM | 13 Jul, 2022
- Pakistani celebrities who are performing Hajj 202210:16 PM | 5 Jul, 2022
- Films releasing in Pakistan on Eidul Adha 202211:51 PM | 5 Jul, 2022
- Pakistan’s largest city Karachi still among world’s least ...06:26 PM | 23 Jun, 2022