Economic Loss From Floods in Pakistan Reaches $18b

  • by Sharoon Jan
  • 3 months ago
  • News
  • 1
Economic Loss From Floods in Pakistan Reaches $18b

The rapid assessment cost of projected economic losses following floods as calculated by the Center and endorsed by the provinces has gone up further to the tune of $17- $18 billion.

The economic losses have further increased mainly. Because agricultural crops have been destroyed across 8.25 million acres as compared to an initial assessment of 4.2 million acres. Cotton, rice, and minor crops have been damaged severely, and if de-watering is not done properly. It can cause serious problems for wheat sowing.

The cotton crop has evaporated in most parts of the country and now wheat sowing is under threat.

The ministry of national food security has been assigned to come up with a summary to increase the minimum support price of wheat for the coming crop. The authorities have held meetings with International donors and assured them. That Pakistan would place an effective monitoring and evaluation system to utilize each and every penny to mitigate flood losses in a transparent manner.

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