ISLAMABAD: While it was predicted that the loss of 1,009 million dollars may have been incurred due to the recent rains in Pakistan, now it has been revealed that there may have been a loss of 2,800 million dollars in a new estimate.
After mid-June, Pakistan experienced heavy rainfall due to climate change. As a result, most parts of the country were flooded. More than 1,600 people have died due to the floods and thousands of people are seriously injured and receiving treatment.
As a result, poverty in the country has increased by 5 percent. It is feared that 90 lakh to 1.2 crore people may be pushed into poverty. A study by the country’s Planning Commission has revealed that inflation will increase by another 25 percent amid severe financial crisis, with between 18 lakh and 20 lakh people losing their jobs.
Due to low international demand and decline in exports of rice, cotton, palang and vegetables, Pakistan’s exports this fiscal year have suffered a loss of $300 million. Imports of cotton, wheat and vegetables may also increase.
Earlier, the agricultural growth in this financial year was 3.9 percent, but now due to floods it will shrink from minus 0.7 to minus 2.1 percent and the agriculture sector will suffer a loss of 3.5 to 4.5 percent.
Pakistan’s National Disaster Management Authority has said that recovery in areas affected by natural disasters will require long-term construction and it may take 2 to 10 years for those districts to recover.
Indus province is most affected by rains and floods. Here there is a loss of 590 crore dollars. Following this, the Chairman of the Planning Commission said that there has been a loss of 55 million dollars in Punjab province, 54 million dollars in Khyber Pakhtunkhwa province, 2 million dollars in Pakistan Occupied Kashmir and 3 million dollars in Giljid Baltistan.
In a consultation with donors and economists, the loss due to floods in Pakistan was estimated at $1,009 million, but now it has increased to $2,800 million.
Also, according to the National Disaster Management Authority, there has been a loss of 290 million dollars to Pakistani ministries and departments. Out of that, the maximum loss was 24 crores to the Railway Department, 2 crores to the Housing Board Department, 2 crores to the Highways Department and 29 crores to the Water Management Department.
According to new data, Pakistan’s food security program needs $400 million. While the loss is estimated at 2,800 crores, there is an economic loss of 1,100 dollars. Production of cotton, rice, maize and sugarcane has suffered a severe loss. 3.3 crore people have been displaced.
Roads, railways, bridges, highways, agricultural land have been badly affected and one in seven Pakistanis have been affected. 10 lakh animals from small to large animals have died.
Industry may also suffer due to loss in agriculture sector. The country’s newspapers have reported that new research results have revealed that the gross domestic growth for this financial year will be only 1.8 to 2.3 percent and there will be a loss of income of 2.4 trillion.
Subscribe Dinamalar channel for new news