In this era, Terrorism can be called the one of the greatest means of destruction and disaster. A country’s internal and external infrastructure is directly affected by terrorist acts. All terrorist attacks whether local or international cause immediate human, economic and psychological repercussions of different intensity. The damage caused by the attacks does not stop right there but has many indirect costs. There are many issues due to which terrorism can arise such as poverty, unemployment, lack of health related facilities, illiteracy and lack of justice.
2. INTRODUCTION
Terrorism:
The violent act
which is intended to
create fear (terror).
This may be done for a
religious, political, or
ideological goal, and
often target civilians.
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3. Terrorism is a great hurdle in our economic
prosperity, political stability, geo-strategic
sustainability and energy security.
Development activities are at halt due to
affected areas such as KPK and FATA.
Rise of terrorism is self-generated threat of
Pakistan due to its weak policies,
corruption and political instability.
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4. What is economic terrorism?
It is defined to indicate
an attempt at economic
destabilization by
group. The act by any
group or state for the
sole and illegal
purpose of creating
economic chaos and
collapse as a means of
destroying the
attendant society.
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5. Economic terrorism is like a cancer that
kills a nation slowly, and makes even the
mightiest state demoralized, non-
functional, and turns it into a failed state.
It is the most lethal weapon for any anti-
social element.
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6. Economic terrorism in
Pakistan
In Pakistan the threat of economic
terrorism always looms large, not only
because of external elements, but due to the
self-interest of individuals that are forever
present, at all levels of the country’s power
corridors. Pakistan suffered a lot of
financial losses due to economic terrorism,
and as per official Ministry of Finance
estimates, the losses amounted to $40-$45
billion dollars approximately.
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7. Since 9/11, many countries have been
subjected to economic terrorism. This
incident greatly affected Pakistan’s
defense and economic condition.
Frequent suicide bombing is also the
main cause of spreading of economic
terrorism in Pakistan.
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8. Effect of terrorism on economy
of Pakistan
Economic terrorism is costing Pakistan both
economical and human lives loss. Thousands
of people have died due to suicide bombing.
The Economic Survey said that the “rise of
violent extremism and increase in terrorism
disrupted Pakistan’s normal economic and
trading activities, which not only resulted in
higher costs of business but also created
disruptions in the production cycles, resulting
in significant delays in meeting the export
orders around the globe.
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9. Pakistan is spending a lot of money in
counter- terrorist activities.
On the name of War on Terror, Pakistan
suffered loss of more than 123 billion
dollars. Pakistan cannot maintain its
economy by itself and is now depending
on foreign aids.
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10. Conclusion
Terrorism has bound Pakistan to have
pledges of aid from donor agencies and
countries like US, UK, China etc even by
having enormous resources to stand in the
category of developed nations. Pakistan
has already faced huge decline in
investments, foreign exchange, trade and
privatization
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11. Pakistan has to uproot the plant of
terrorism before this plant of causalities,
bombings, and hatred sought its enough
roots to become a tree of hell. Pakistan has
to delink every source that strengthen
terrorism aim to destabilize and cripple the
economy of Pakistan.
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