Janayugom Webdesk
Islamabad
September 10, 2022 10:32 pm
According to reports, Pakistan has lost 18 billion dollars in the flood. Earlier, the Pakistani government estimated the loss to be 12.5 billion dollars. The agriculture sector also suffered a severe setback due to the floods. More than 3.3 crore people were affected by the flood. The loss of crops on 8.25 million acres further increased the economic losses, The News International reported. Crops including cotton, paddy and wheat were destroyed in the floods. If irrigation is not done properly, wheat sowing will suffer. Poverty and unemployment will rise from 21.9 percent to over 36 percent. According to the Pakistani government, 37 percent of the people in 118 districts are in the grip of poverty following the floods.
Floods and the Ukraine conflict are forecast to reduce GDP growth from five per cent to three per cent in 2022–23. Major General Zafar Iqban, Chairman of the National Flood Response and Coordination Center, said that the gross domestic product growth rate will be reduced by two percent due to the flood and the delay in International Monetary Fund funds. The government is in the process of preparing an effective system and outline for the utilization of relief schemes to mitigate financial loss.
Relief work in flood affected provinces is in progress. The reports of the disaster management force are that 1396 people have died in the floods so far. 12,700 people were injured. A total of 81 districts have been declared as disaster affected areas. There are 32 affected areas in Balochistan, 23 in Sindh and 17 in Pakhtunkhwa.
English Summary:Flood: Economic loss of 18 billion dollars to Pakistan
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