Pakistan says terror war impedes economy

14:20, June 05, 2010      

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Increased cost of Pakistan's war on terror and energy crisis impeded growth rate of the country, Pakistan's Economic Advisor Hafiz Sheikh said Friday.

The advisor also released annual economic survey of the outgoing financial year 2009-10 which witnessed a modest growth rate of 4.1 percent in the face of multifarious challenges.

Pakistan's financial year begins from July 1. The government will announce new budget 2010-11 on Saturday.

Sheikh said the cost of war against terror has been increasing since 2002 and jumped up significantly during 2009 when an intensified operation was launched. He said the war on terror has resulted in lost investment and output, capital flight and lost job opportunities.

The Advisor pointed out that 2008-09 was the most difficult year in the economic history of the country as the government inherited negative growth rate and had to take difficult decisions to take the economy out of troubles. He said though these were risky decisions by a political government but their positive impact is now quite visible.

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