Washington, Mar. 4 : Pakistan President Asif Ali Zardari has said that Pakistan can ill afford to lose its confrontation with terrorism.

"This is an existential battle. If we lose, so too will the world. Failure is not an option," Zardari said.

According to an op-ed piece published in the Wall Street Journal, Zardari, while referring to the Swat peace deal, negated the notion that Islamabad has fallen into the hands of the Taliban.

"We have not and will not negotiate with extremist Taliban and terrorists," he added.

Zardari clarified that the peace deal struck in the valley was with the clerics and not with the terrorist outfit.

"The clerics with whom we have engaged are not Taliban," Zardari said, adding "After the deal, it is it is their responsibility to rein in and neutralize Taliban and other insurgents in their area."

Commenting on the action of security forces in case the situation gets out of control in the valley, Zardari said : "Our security forces will act accordingly." (ANI)