Pakistan needs $10bn to cope with flood devastation: Ahsan Iqbal

Business Aug, 30 2022
Pakistan needs $10bn to cope with flood devastation: Ahsan Iqbal
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ISLAMABAD: Minister for Development and Planning Ahsan Iqbal said that Pakistan needs $ 10 billion for renovation and restructuring of flood damaged infrastructure. World ought to help Pakistan to deal climate change effects, he added.

Talking to foreign news correspondent he said initial estimate is that loss is huge which almost $ 10 billion is and 100 thousand homes has been damaged, people have lost their jobs. New built up and restoration may take 5 years, he said and nation may face food scarcity as crops were damaged and cattle drowned.

For any formal request of help we have to wait until final estimate of loss has not been ascertained, he continued. Pakistan is reviewing with damages with help of World Bank and Asian Development Bank. World has responsibility to help Pakistan to upgrade infrastructure in accordance with climate change so that we could not suffer this kind of loss after 2,3, 4 or 5 years again, he added.

Around 45 percent cotton crops has been washed and wheat crops farming has also been affected as huge part of farms has been submerged in floods while rice, vegetable and fruits crops have been damaged drastically, he concluded.

Published in The Daily National Courier, August, 31 2022

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