First Published Sep 10, 2022, 1:44 PM IST
According to reports, due to the heavy rains in Pakistan, the country will lose 3 billion dollars and the economic growth will decrease from 5 percent to 3 percent.
Pakistan experienced record monsoon rains beginning in late June. The floods in the rivers and streams caused by the rains in Balochistan and Sindh provinces have turned the country upside down.
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So far more than 1300 people have died due to rain and flood. More than 3 lakh people have lost their belongings and lakhs of people have been displaced to safer places. A third is inundated.
It has been revealed that Pakistan’s economic growth will drop from 5 percent to 3 percent due to the floods. Major General Zafar Iqbal of Pakistan’s National Flood Relief and Cooperation Centre, Prime Minister Shebaz Sharif and the UN. Secretary General Antonio Guterres gave a joint interview.
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According to them, “Due to the floods in Pakistan, there has been a total loss of 3000 million dollars. A third of the country is inundated.
Pakistan’s economy is expected to slow down from 5 percent to 3 percent GDP growth in the current fiscal year. Floods, delays in IMF funding, and the war in Ukraine are all factors that will slow down economic growth.
During the floods in Pakistan in 2010, 2 crore people were affected. However, 3.30 crore people have been affected by the recent floods. 6 lakh people are homeless. They said.
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So far 17 lakh houses have been completely or partially damaged due to floods in Pakistan. Pakistan Disaster Management reported that 6,600 km of roads were damaged and 269 bridges were damaged.
A total of 81 districts including 32 districts in Balochistan, 23 districts in Sindh and 17 districts in Khyber Pakhtunkhwa are still affected by floods.
Due to Pakistan floods, 8.25 million acres of agricultural land have been submerged. All crops including cotton, paddy and small grains were submerged in water.
Pakistan’s economy has already gone under and has received help from the International Monetary Fund. Now that the floods have reduced economic growth to 3 percent, the impact will be even worse.
Last Updated Sep 10, 2022, 1:44 PM IST