Pakistan's economy has suffered direct and indirect losses of upto 67.93 billion dollars due its role as a frontline state in counterterrorism operations since 2001.
According to Pakistan Economic Survey 2010-11, the events transpiring in Afghanistan after the 9/11 attacks worsened security environment in the country.
The 'war on terror' has so far taken the lives of over 35,000 citizens and 3,500 security personnel.
It said the war has affected the country's exports and the pace of privatization programme. It has also prevented the foreign investment inflows and slowed down the overall economic activity.
'The war on terror' reduced import demand and tax collection, expenditure over-run on additional security spending, damaging domestic tourism industry; destruction of physical infrastructure (military and civil) and massive surge in security related spending, the survey said.
"Pakistan has never witnessed such devastating social and economic upheaval in its industry, even after dismemberment of the country by direct war", the Dawn quoted the Survey, as saying.
"Pakistan's investment-to-GDP ratio has declined from 22.5 per cent in 2006-07 to 13.4 per cent in 2010-11 with serious consequences for job creating ability of the economy", it added.
The survey said had economic activity not slowed, thousands of jobs could have been created, and that thousands of jobs were lost because of the destruction of tourism and the rise in expenditure to support internally displaced persons. ANI
