Pakistan

Pakistan suffered US$ 57 bln terrorism related losses in five years

terrorism

ISLAMABAD: The national economy suffered overall US$ 57 billion losses due to terrorism in last five years, the Ministry of Finance replied to the Senate.

According to ARY News, Pakistan’s finance ministry has submitted written reply of a question from the Senate about losses to the national economy due to terrorism during the last five years.

According to the figures submitted by the ministry, the country suffered 23.70 bln US dollars losses due to terror incidents in fiscal year 2010-11.

In fiscal year 2011-12 the national economy sustained losses to the tune of 11.98 bln US dollars due to terrorism. The country sustained US$ 9.63 bln terrorism related losses in fiscal year 2012-13, and in fiscal year 2013-14 and 2014-15 the losses to the economy have been estimated at US$ 6.63 billion and 4.53 bln dollars respectively.

The finance ministry also submitted the reply in the upper house about the details of tax recoveries during the last three years.

According to the ministry, in fiscal year 2012-13 the tax authorities recovered 1946 billion rupees taxes. The tax revenues increased to Rs. 2254 bln in fiscal year 2013-14 and Rs. 2589 bln in year 2014-15, the ministry added.

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