February 28, 2024

Severe floods cause losses of $10 billion to Pakistan’s economy

Floods 2022

Severe floods cause losses of $10 billion to Pakistan’s economy

ISLAMABAD, Aug 29,  2022- The loss of at least 10 billion dollars to the country’s economy due to Pakistani officials have initially estimated that the severe flooding has cost the country’s stressed economy at least $10 billion.

Federal Finance Minister Miftah Ismail has revealed that as a result of the recent floods, the loss of at least 10 billion dollars to Pakistan has been estimated. These are initial assessments that can be further developed after conducting surveys in real-time situations.

Finance Minister that various sectors of the economy had suffered losses.

Miftah Ismail said that he did not have the details of the losses faced by every sector of the economy at this time.

Floods and rains claim 982 lives, highest number in Sindh 

PM Shehbaz Sharif announces Rs 15 billion for flood victims of Sindh

He said the government had not yet taken donors into confidence.

Now top government sources said that Islamabad will seek financial assistance from the international community, then the government and donors can assess the damages separately or jointly and then the exact assessment figures will be agreed upon.

But first the government will focus on all relief activities to save the displaced people in the recent flood disaster. Then the damage to ascertain the loss of both human lives and injuries, damage to infrastructure, damage to livestock, agricultural sector, business damage and damage to houses and damage to shops etc.

Video message of Nawaz Sharif

Former Prime Minister and leader of Muslim League (N) Mian Muhammad Nawaz Sharif appealed to all the people of all positions to help the flood victims.

In the video message, Mian Nawaz Sharif said that the flood has caused a large scale destruction, in these conditions the victims will not be left alone.

Pope Francis appeals international community

The religious leader of Catholic Christians, Pope Francis appealed to the international community for help for flood-hit Pakistan.

In a statements, Pope Francis said that the international community should show solidarity and help the Pakistani flood victims.