US led 'War on Terror' cost Pakistan six billion dollars during 2007-08: Pak Economist

Islamabad, Apr.2 (ANI): The US led 'War on Terror' has cost Pakistan six billion dollars during 2007-08, the head of a panel of Planning Commission economists Dr. Hafiz Pasha has said.

Addressing the 24th annual general meeting of the Pakistan Institute of Development Economists', Pasha said Pakistan has suffered a huge loss in the war, and according to the government's calculation, the economic loss is over eight billion dollars.

He urged the United States to double the assistance being given to Pakistan for its support in the war on terror because of the heavy loss.

Dr. Pasha said that the present economic condition of the country was very precarious because of the falling rate of tax collection, and import rates being very high.

He added that the expense of the ministries in the country has risen by about 100 billion rupees adding to the economic burden.

Commenting on the International Monetary Fund (IMF), Dr.Pasha said the fund would focus more on stability rather than growth, which would certainly not help Pakistan's cause.

"Pakistan paid a heavy price for stability at the cost of growth during the previous regime, and it should not repeat the same mistake," he added. (ANI)