Pakistan

'Pakistan lost $43 billion in last nine years'

Foreign Minister Shah Mahmood Qureshi has stated that Pakistan lost $43 billion in last nine years.

Ppi/express July 17, 2010

Foreign Minister Shah Mahmood Qureshi has stated that Pakistan lost $43 billion in last nine years as a result of terrorism.

Speaking at the Ministerial Meeting of Friends of Democratic Pakistan on Saturday, Qureshi said since 9/11 there have been 247 suicide attacks in Pakistan killing over 3000 civilians, injuring over 7000.

“We lost over 2550 security personnel in ongoing law enforcement operations. Our cumulative economic losses are also substantial. According to conservative estimates, Pakistan lost $43 billion in last nine years, our exports and foreign investments have been badly hurt. Our people shown remarkable resilience in face of varied and daunting challenges” he said.

Pakistan plans to hold second public-private partnership conference in Islamabad sometime this year or early next year, he added.

Meanwhile, US special representative for Afghanistan Pakistan, Richard Holbrooke said that Friends of Democratic Pakistan has prepared recommendations to tackle the energy crisis in Pakistan.

Holbrooke said that Rs770 billion is required to invest in Pakistan for these projects and Friends of Democratic Pakistan will help to deal with the power crisis.

Holbrooke urged the formation of a task force to solve the water issue, stating that Pakistan is facing many challenges and joint efforts are needed to solve these issues.

He further said the US has fulfilled its promises made in the Donor Conference and asked donor countries to give Pakistan additional aid before the Brussels Conference on October 15^th.

The meeting was attended by representatives from members of FODP, World Bank and other international financial organizations.

COMMENTS (5)

Meekal Ahmed | 14 years ago | Reply Mr. Wahab, Thank you for clarifying the matter. It was only a question I was asking. $42 billion may indeed not be too much of a stretch. I do not claim to put a figure on human lives lost or more generally human suffering. There has plenty of both of that. As for Mr. Mateen saying we should immediately stop this war or terror, surely he jests. But if he is serious, what would be his strategy going forward? I would like to hear it.

ali | 14 years ago | Reply Our economy grew at 7 percent during Musharraf era, i really dont know how this 43 billion figure came from. Before 911, we were nearly a bankrupt state with 2 percent GDP growth, what was wrong then.

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Ali Wahab | 14 years ago | Reply @Meekal, it is good to challenge everything but then can you say that the cost has been more or less than the amount quoted? On 1st July, the IMF gave out figures of Rs 2 trillion between 2004 and 2009 which on today's USD is $23bn whereas when calculated as per the prevalent USD/PKR for those years comes to approximately USD 30 billion. The point is, we have lost directly and indirectly in economic terms and we should get due compensation. The money received from the US was for military mainly.

Syed A. Mateen | 14 years ago | Reply This is the time when Pakistan should stop US war on terror. Though US and other countries may be giving financial aid to Pakistan, but the lives of Pakistanis are more precious than of fiancial aid given by any country.

Meekal Ahmed | 14 years ago | Reply I wonder who makes these calculations and how credible they are? It looks like an exercise in constructing a counter-factual, namely, what would have been in terms of production and exports and foreign direct investment if there had been no security issue. It can be done and done well but I still wonder where these huge numbers come from. I am sure we don't reveal the basis of our calculations and the donor's will not challenge the government's figures. Is the figure net of reimbursements from the US? It does not say.

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