Our future is being crushed by debt
There are 5.5 million out of school children
Keeping in view the above argument, there is a need to exercise the right of foreign debt cancellation. For instance, the losses incurred by different sectors of Pakistan’s economy as result of US‐led war on terrorism in the last 13 years might go close to $102 bn mark a rough estimate. In return, Pakistan had so far received around $15bn through official channels on account of over $10bn in shape of Coalition Support Fund (CSF) compared to official losses of $68 bn ll fiscal year 2010‐11, so only 14% losses were reimbursed by the US. In the head of military assistance in shape of FMF (Foreign Military Fund), Pakistan received $2.1bn, grants for the economy to the tune of $1.5bn, budgetary support of $1.2bn and debt write‐ off $1.5bn.
Islamic Relief Pakistan [n.d], Our future is being crushed by debt, Islamic Relief Pakistan, Islamabad [Online], available at: http://www.islamic-relief.org.pk/