LAHORE: The country’s economy suffered losses of over $67.9 billion due to terrorist in the last decades, revealed the Pakistan Economic Survey in its latest report.
The post 9/11 events and the war in Afghanistan has also put additional financial burden, worsening the security environment in the country.
The All Pakistan Business Forum (APBF) has expressed its concerns over the major negative impact of terrorism on the national economy.
APBF President Ibrahim Qureshi stated that the war on terror has restrained the country’s exports, prevented the inflows of foreign investment, affected the pace of privatization Programme, lessened foreign remittances from Expatriate Pakistanis, reduced employment opportunities and hampered tourism, while slowing down the overall economic activity in the country.
The annual tax-collection and demand for imports has also been reduced, while the annual expenditure on additional security arrangements has been exceeding the allocated budgets. Over the years, Pakistan has consistently suffered with destruction of physical infrastructure.”
The Investment-to-GDP ratio in Pakistan has declined sharply with serious implications on the country’s industrial performance, productivity and growth. The bleak economic situation calls for urgent deliberations and robust efforts from the government and the industrial experts & leaders, to take concrete measures for overcoming these economic challenges, besides combating corruption to accelerate economic progress.
