ISLAMABAD: Minister for Planning, Development and Special Initiatives Ahsan Iqbal said that Pakistan faced unprecedented devastation due to torrential rains and flooding in most parts of country and spending on flood recovery in country might cross $ 3 billion by June this year.

Pakistan faced huge economic losses due to damage of infrastructure and loss of crops that led to significant losses in GDP, higher poverty rates, degradation of eco-system, degradation of environment and climate, job loss and disruption, degradation of environment and climate.

Speaking at International Conference on Climate Resilient Pakistan he said Post-Damage Needs Assessment conducted jointly by government of Pakistan and its international development partners, including World Bank, Asian Development Bank, European Union, UN relief agencies in October has estimated aggregate cost of calamity at $ 30.1 billion.

Iqbal said Pakistan’s economy was already in dire straits. Agriculture sector accounts for largest decline at 0.9 percent. Recovery and reconstruction needs are projected at 1.6 times budgeted national development expenditure for financial year 2023, he added.

Objectives of government’s recovery efforts are to improve governance and enhance capacity of state institutions, restore livelihood and economic opportunities, ensure social inclusion and participation in all aspects of recovery and related development and restore and improve basic services and physical infrastructure.

“We have worked out number of projects to build resilient infrastructure in various fields including housing, health, education, gender inclusion, private sector, irrigation and flood protection works, fail network, road network, energy, redesigning agriculture to smart agriculture”, he added.

Published in The Daily National Courier, January, 10 2023

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