Terrorism involves senseless
destruction, suicide attack, bullying and murder of innocent people. Terrorism
disrupts the lives of people, damages infrastructure, causes economic slowdown,
breaks the social fabric of communities and brings political unrest.
Looking at the historical background of
the world, we see wars ravaging nations — from Africa to Asia to Europe and to
other regions. Escalating terrorist attacks against individual citizens,
property, transport and airports are related to the reduction of capital
formation and low GDP per capita growth. The International Monetary Fund (2001)
calculated the direct costs of the 9/11 attacks on the US to be $21.4 billion
while, Navarro and Spencer (2001) found that the loss of capital stock was from
$50 billion to $53 billion.
Since September 2001, Pakistan has been
waging a war on terror. Up to this point, it has cost the nation the lives of
over 35,000 citizens and 3,500 security personnel, as well as damage of
infrastructure and direct economic loss of $67.93 billion. The country faces
terrorist attacks, including suicide bombing, which has disrupted law and order
and, thereby, has caused reluctance among foreign investors wanting to conduct
business in Pakistan...
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