Pakistan’s economy suffered $68bn loss due to Afghan turmoil

[Naveed Yaseen]

LAHORE: Pakistan economy has so far suffered irreparable loss of $68 billion directly and indirectly due to turmoil in Afghanistan.

Speaking as a chief guest at a seminar on “The Role of Economy Towards Survival of the Country” in connection with Pakistan Day here, founder chairman Pak-US Business Council and VP SAARC CCI, Iftikhar Ali Malik said it is on record that Pakistan is the only country in the world which has not only suffered tremendous economic loss but also huge human loss in the war against terrorism.

He, on behalf of business community has called for US President, Barack Obama to provide direct access to Pakistani products in US markets to help stabilize the economy.

He said that more than three million Afghan refugees harbouring in Pakistan were also posing security risk.

He said due to war on terror, Pakistan’s national economy is exclusively suffering a net loss of $7 billion annually as fallout of the war against terror, which has displaced thousands of people.

In the prevailing scenario, United States must provide direct market access to Pakistani products on zero rate duty to help stabilise the country’s bleak economy in the wake of the war against terror.

Iftikhar who is also co-chairman businessman panel, the largest alliance of chambers in the country and ruling group in FPCCI on behalf of entire business community, again urged for US assistance to Pakistan to help overcome the economic crisis, by restoring the quota for Pakistan at par with all other under developed countries.

He said there is vast scope for US private sector investors in every sphere of life, particularly in the agro, power and IT sectors, adding that the US Chamber of Commerce (USCC) can play a pivotal role in promoting bilateral trade relations.

Malik stressed the need for restoring pre-9/11 relations between Pakistan, US and Muslim Ummah, which would help restore confidence and establishing durable peace in the region. app

http://www.dailytimes.com.pk/default.asp...2009_pg5_3