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KARACHI: Pakistan’s ‘war on terror’ has cost $118 billion so far, a new report by the State Bank has said.
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 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 pivotal US ally in the battle against extremism after the Sept 11, 2001 attacks spurred the 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 had helped drive away foreign investment, stall domestic investment, freeze exports, and slow down trade.
Published in Dawn November 19th, 2016
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Nov 19, 2016 08:07am
This is the price tag of this harmful 'friendship' with the US. Pakistan should better forgo this and strengthen ties with China and Russia.
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Nov 19, 2016 08:45am
These heavy losses for the nation have not affected booming businesses of the ruling class though.
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Nov 19, 2016 08:52am
Not a new news. Every war is an opportunity to make money. Who is minting billions? Someone is certainly benefiting, do we know who? Did we ever try to know who? Can we even point the finger of blame to anyone? And please do not give me the lame excuse that it was the Americans.
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Nov 19, 2016 09:03am
Half the amount has gone into the hands of politicians.
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Nov 19, 2016 09:08am
War Economy bring riches to the privileged few. Now who got permanent UK citizenship?
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Nov 19, 2016 09:13am
@Mansoor I agree. Just try to correlate the volume of deposits in Panama and other such havens with the economic loss. You will find that the country lost and some individuals' accounts bloated.
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Nov 19, 2016 09:25am
Sorry to say but still not learning from past mistakes. Everyday some banned group leader is freely roaming in Pakistan and shouting to demolish some other country with suicide bombing in the name of freedom of some parts which is claimed to be disputed. Environment of violence creates further violence.
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Nov 19, 2016 09:32am
Gov. Wathra, who was awarded with the title of #1 central banker in the entire world by a Euro country remains unknown and faceless while Yellen, Rajan, and Carney in other nations have become stars. Why?
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Nov 19, 2016 10:01am
What is the figure based on?
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Nov 19, 2016 10:13am
Flood water brings alluvial soil as well let us expect for better harvest.
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Nov 19, 2016 10:33am
Whom to blame..USA on its part, was compensating USD 1-2 Billions every year. Rest need to be accounted for some bad policies
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Nov 19, 2016 10:47am
And how much did the US give Pakistan in the same period?
Pittance.
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Nov 19, 2016 10:49am
Nothing to add....
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Nov 19, 2016 11:07am
Musharraf and his dictatorial decisions are still haunting Pakistan
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Nov 19, 2016 11:08am
World Tallest Building - Burj Khalifa costs $ 1.5 bn
World Biggest Damn - Three Gorges dam costs $ 22.5 bn
Cost of Building and Launching Space Satellite costs $ 500 mn
Dubailand – $76 bn
King Abdullah Economic City – $86 bn
The International Space Station – $150 bn
London cross rail project - $ 15.67 bn
2nd largest in the world - High speed rail in China - $ 88 bn
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Nov 19, 2016 11:43am
The unity it brought to the nation is priceless.
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Nov 19, 2016 12:02pm
At least America is benefited by our government. We should proud for that.
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Nov 19, 2016 12:06pm
When a nation does not realize that its population is its main asset and not arms or military or nuclear weapons etc. then the nation has to bear the consequences, invest in education, invest in human resources, invest in healthcare, invest in sports, invest in giving skills, and useful work to your millions. My dear countrymen understand it is not the billions that is important it is human lives that are important.
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Nov 19, 2016 01:10pm
How much has corruption by the politicians cost Pakistan? Are there any figures?
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Nov 19, 2016 01:11pm
@Mansoor why is it a "lame" escyse. Is that because your dear anericans are angels thar are innocent of every war they started. And the mess they created?
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Nov 19, 2016 01:11pm
‘War on terror’ has cost USA $5 Trillion.
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Nov 19, 2016 01:45pm
And what about over 50000 Pakistanis who lost their lives. Money can be brought back but not the people who died.
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Nov 19, 2016 02:22pm
Does anyone know the cost of not fighting this war?
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Nov 19, 2016 02:37pm
@ozzy No one can create a mess in my home if I do not allow. What America could do to Iranian for 40 years ? Did they disappear from earth? Were they pushed into dark ages? If America has been doling out 2 Billion dollars a year to Pakistan (for over 30 years), is there an Audit where this money was going and who is getting cuts, commissions and kick backs? It is mine, your's and our fault that the country is in such state and "WE" allowed it to be like that.
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Nov 19, 2016 02:40pm
The ongoing war against terrorism and extremism cannot bring enduring peace and stability unless the menace of corruption is not uprooted. General Raheel must help and take a solid step in eliminating the corruption and injustice from Pakistan first. Because spending billions on war against terror is just waste of money. Still Every month a new bomb blast occurs in Pakistan on regular basis and innocent people die. Please end corruption first to end terrorism. And make the borders stronger before spending billions on war against terror. You can spend the same money on making borders stronger (Like erecting laser security walls on the borders with afghanistan) because strong borders =Secure nation.
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Nov 19, 2016 02:40pm
@UFO Do not blame Americans. You know who our strategic assets are, how the country has been hijacked and how we are paying the ransom ie Rs 118 Billion.
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Nov 19, 2016 03:24pm
I ask, except lollipops, what have we got so far from allying with the USA? Losses, only. She has always left is in lurch whenever we needed her. As a state, Pakistan has lost her self-respect.
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Nov 19, 2016 03:52pm
@ AJax
Would it be possible to ask the UN to help Pakistan recover these losses from the US?
The war on terror caused these losses or was it the terror attacks which caused these losses or was it a combination of both?
Can we say that Pakistan would not have incurred these losses had it avoided the war on terror?
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Nov 19, 2016 03:54pm
Pakistan fighting war against terror for its own good, not for others. If people think this is to help "Others", then they are really wrong. And spending on their own welfare, it is nothing.
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Nov 19, 2016 04:21pm
@Mansoor - "What America could do to Iranian for 40 years ?"
Iran's economic loss has been worse than the figure in this news due to sanctions. Iran suffered a loss of about $26bn in oil revenue in 2012 from a total of $95bn in 2011 alone. That is just 2 years and just from oil. You can extrapolate oil and other losses over 40 years.
http://www.bbc.co.uk/news/world-middle-east-15983302
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Nov 19, 2016 04:50pm
And what corruption perhaps it cost more than that
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Nov 19, 2016 04:57pm
It is time for Pakistan to stop differentiating good terrorists versus bad terrorists. Stop politics and root out terrorism in whatever form they manifest in our soil.
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Nov 19, 2016 05:11pm
There has to be a detailed foreign policy, not case to case basis.
We have to look for economic partners in every corner of the world, with strong economy the problem of terrorism shall vanish.
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Nov 19, 2016 05:24pm
what a shame, such heavy irreversible damage due to an imposed war that beatified the civil and military elite at the cost of a common Pakistani.
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Nov 19, 2016 05:33pm
What did we earn except curses and humiliation ..
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Nov 19, 2016 06:13pm
And Corruption around $500 billion
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Nov 19, 2016 06:14pm
Let us now ask the US administration if they are with us in War on Terror, or want to withdraw. Our next move should be to get rid of the terror-monger US and start our own Zarb against terror on our own.
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Nov 19, 2016 06:22pm
Pakistan should honestly try to eradicate corruption and terrorism. It can be done on an emergency plan and once our institutions realize this on a war footing its a very small issue. Learn from the mistakes of America, they used these people and then got them killed later on. America made so many other mistakes also but they have changed their policy from overt actions in the world by bush & covert in the times of Obama. Stay with American block and eventually it will pay off.
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Nov 19, 2016 06:26pm
So Mr Musharaf, any comments please. Don't forget the human cost, the brain drain, the sociological effects and an endless list. How happy are we, isn't it?
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Nov 19, 2016 06:31pm
@Harmony-1© Iran did not fall on her face. Actually they stood their ground and are standing tall among the so called Muslim world. They ultimately got what they wanted on their terms rather than us where if someone wants to shake our hand we thrust the permanent begging bowl asking for aids and loans.
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Nov 19, 2016 06:37pm
This is cost of taking part in adventurism of Afghan Jehad launched by America , the West and Arab states against USSR . We have secured nothing except militancy sectarianism , heroine and intolerable conducts . We should rethink and realine our national narrative and take strict action against banned groups as advised in National Action Plan .
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Nov 19, 2016 06:37pm
@M. Emad : And, Hillary !
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Nov 19, 2016 06:52pm
@LCA tejus - that is the most sensible comment I have read - Pakistan still has some hope while we have realists like you in the country
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Nov 19, 2016 06:54pm
And how much US has paid and how much actually came into systems and how much in pockets ?
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Nov 19, 2016 07:37pm
A war against the monsters that we ourselves created. We have no one to blame but ourselves.
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Nov 19, 2016 07:45pm
@Faisal Some our created problems, some by foreign intelligence, but worry not hate has no religion, they need to be eliminated. Shanti needs to prevail that is the biggest way of life and above any faith.
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Nov 19, 2016 07:47pm
If the money is spent to extend the peace n understanding the ideologies may be we don't not have to ever fight the war again..History is full of examples where ruling with an iron fist or solving the issues with violence has promoted nothing but more violence. Folks some one put it so beautifully...To become a true global citizen, one must abandon all notions of 'otherness' and instead embrace 'togetherness'. The world is no longer white, black, yellow and brown. Through love, tribes have been intermixing colors to reveal a new rainbow world. And as more time passes, this racial and cultural blending will make it harder for humans to side with one race, nation or religion over another. Therefore, practical wisdom should be used to abandon any cultural, social, religious, tribal, and national beliefs of alterity altogether. This is the only way mankind will truly evolve. Segregation is a word of the past. Unity is the key to a peaceful future.”
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Nov 19, 2016 07:53pm
@Khanm Love and hugs to you friend :)
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Nov 19, 2016 08:10pm
Why did your leaders get involved in the first place? Didn't your leaders have an agreement with US about sharing the costs?
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Nov 19, 2016 08:11pm
@Harmony-1© Are you surprised?
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Nov 19, 2016 08:40pm
There is conflict in figures...
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Nov 20, 2016 04:47am
@bk
correction ---much more than half
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Nov 20, 2016 10:02am
@Harmony-1© Actually of Punjab. The rest of Pakistan has suffered losses.
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