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Flood loss estimation is $28b

In the wake of catastrophic flooding that caused an estimated $28 billion in damage and a 5% increase in poverty, Pakistan has established a Post Disaster Needs Assessment (PDNA), which suggests that nine to 12 million people may live below the poverty line.

According to official estimates, this disaster has resulted in the loss of between 1.8 million and two million jobs.

The government has created rehabilitation plans and estimated that long-term construction of the flood-affected districts could take two to ten years.

Inflation on average could reach 23-25% in the current fiscal year.

Alarmingly, the Planning Commission acknowledges that the anticipated aim of a positive 3.9% for the current fiscal year may be exceeded by a drop in agriculture growth of-0.7% to-2.1%.

Losses from exports might cost $3 billion.

With damages totaling a staggering $5.9 billion, Sindh has suffered the most out of the four provinces, including Gilgit-Baltistan (GB) and AJK.

With losses of $3.04 billion, Balochistan comes in second.

The losses are $0.55 billion in Punjab, $0.54 billion in KPK, $0.02 billion in AJK, and $0.03 billion in GB.

The top economist of the Planning Commission delivered these updated data on Monday during a consultative meeting with esteemed economists from across the nation. International donors’ representatives were also present.

The four provinces, GB, and AJK have collectively suffered losses of $10.09 billion.

The PDNA estimates that there have been $28 billion in total accumulated losses, $2.9 billion of which are attributable to federal ministries and divisions.

Written By

Mahnur is MS(development Studies)Student at NUST University, completed BS Hons in Eng Literature. Content Writer, Policy analyst, Climate Change specialist, Teacher, HR Recruiter.

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