Minister for Finance Miftah Ismail estimates that the flash floods have cost the country at least $10 billion across a variety of economic sectors.
Miftah told this reporter that these were preliminary assessments and could change if more in-depth ground surveys were conducted. Miftah stated that he did not know how much money each economic sector had lost.
When asked if the initial damage assessment had been shared with the funders, the minister said no. According to high-ranking government officials, Islamabad will first seek financial aid from the international community before assessing the damages either independently or together with the donors to figure out the precise figures. However, the government will prioritize relief efforts to save the victims first.
When asked if the initial damage assessment had been shared with the funders, the minister said no. According to high-ranking government officials, Islamabad will first seek financial aid from the international community before assessing the damages either independently or together with the donors to figure out the precise figures. However, the government will prioritize relief efforts to save the victims first.
After the relief and rehabilitation phases of the 2005 earthquake and the 2010 floods, donors and Pakistan worked together to analyze the damage to various sectors of the economy and subsequently assisted Islamabad during the reconstruction phase.
At this point, the same tactic would be used. Countless homes, hotels, and roods have been destroyed or severely damaged in the major flood-hit provinces of Punjab, Sindh, Balochistan, and KP, and initial estimates reveal that more than 1,000 people have died across the country.
Miftah argues the PTI is endangering the country’s economy for political gain, and he responds to Fawad and Hammad while also claiming that IK’s desire for power is limitless. According to the News Desk, Federal Minister for Finance and Revenue Miftah Ismail responded on Sunday to PTI leaders Chaudhry Fawad Hussain and Hammad Azhar by claiming that the Pakistan Tehreek-e-Insaf (PTI) is endangering the country’s economy and that PTI Chairman Imran Khan’s desire for power knows no bounds.
After PTI lawmaker Chaudhry Fawad Hussain made some disparaging comments, the finance minister hit back with a tweet: “Chaudhry sb, you have harmed Pakistan’s economy simply for the sake of politics. This makes me feel terrible. You weren’t always this way, but the PTI has certainly hurt you.
In response to Chaudhry Fawad Hussain, head of the Pakistan Tehreek-e-Insaf (PTI), the Pakistani government’s Minister of Finance tweeted, “Chaudhry sb, you have endangered Pakistan’s economy simply for politics.” This is an upsetting development. You did not behave in this manner in the past, but the PTI has had a very negative effect on you.
Earlier, the head of the PTI, Chaudhry Fawad Hussain, took to Twitter with the following statement: “It is simply that we can’t chop off our hands and give them to the IMF. Your tainted government has earned no one’s confidence. Therefore, present the nation with all of the terms and conditions of the IMF program. After you have obtained the loans, you will flee, leaving the nation to face the responsibility of paying off the debt. As a result, all relevant information regarding the IMF program ought to be made public.
Miftah fired back against Hammad Azhar, the leader of the PTI, with a tweet that read, “You know this is entirely wrong. The day prior, Fawad predicted on television that letters of this nature would soon arrive. Your successor contacted the finance ministries of both KP and Punjab to obtain these letters. Punjab declined. KP did as was asked. After that, it was revealed by PTI. It’s a great shame. IK’s insatiable desire for power is beyond limits.
Earlier, Hammad Azhar posted the following message on Twitter: “From Miftah leaking Jhagra’s letter shortly before IMF meeting to the entire PDM doing nothing but photoshoots on the flood calamity. These arbitrary authorities are not only inept but also a disgrace to the human species.
