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

Business Aug, 30 2022
Pakistan needs $10bn to cope with flood devastation: Ahsan Iqbal
  • 307
  • 0

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

Like Business on Facebook, follow @DailyNCourier on Twitter to stay informed and join in the conversation.

Our Correspondent
Our Correspondent https://www.dailynationalcourier.com/author/our-correspondent
Daily National Courier is a leading morning English newspaper of twelve pages covering all international and national political developments on 24/7 basis.

NC Big Stories

Defence minister dismisses IAF chief's 'implausible, ill-timed' claims

ISLAMABAD: Defence Minister Khawaja Asif dismissed recent remarks by the Indian Air Force (IAF) chief claiming the destruction of Pakistani jets during Operation Sindoor, calling them "implausible" and "ill-timed." His remarks came hours after IAF Ai...

Islamabad-Washington enters into 'new era' of ties: Field Marshal

WASHINGTON: Chief of Army Staff (COAS) Field Marshal Asim Munir termed his second visit to the United States in just 1.5 months a "new dimension" in ties between Washington and Islamabad. Field Marshal Munir is undertaking an official visit to the Un...

PM congratulates Azerbaijan's Aliyev on peace deal with Armenia

ISLAMABAD: President Ilham Aliyev of Azerbaijan spoke with Prime Minister Shehbaz Sharif yesterday, expressing deep appreciation for Pakistan's steadfast support on the Karabakh issue, Radio Pakistan reported. The prime minister extended warm felicit...

Governor Sindh pays homage to Hazrat Shah Abdul Latif Bhitai's (RA) shrine

KARACHI: Governor Sindh Kamran Khan Tessori visited the shrine of Hazrat Shah Abdul Latif Bhittai (RA) on the second day of the 282nd Urs celebrations, offered Fateha, and laid a floral chadar. He recorded his remarks in the visitors' book and distri...

More like this
Related

Govt eyes on sustained growth driven by domestic resources: Ahsan Iqbal

ISLAMABAD: Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal while highlighting development priorities of the government, has that Balochistan has been put on an accelerated development path for which Rs230 billion have b...

ADB projects Pakistan's GDP growth at 2.5%, inflation at 6%

ISLAMABAD: The Asian Development Bank (ADB) has projected Pakistan's GDP growth to remain steady at 2.5% in the fiscal year 2025 (FY2025), with a slight increase to 3% in FY2026. The growth is supported by the implementation of a reform program that...

Pakistan, Turkiye sign joint bidding agreement for offshore oil exploration

ISLAMABAD: In a significant step towards enhancing bilateral cooperation in the oil and gas sector, Pakistan and Turkiye have signed a joint bidding agreement to jointly participate in an offshore bid round in Pakistan. The agreement was signed on th...

Alvarez & Marsal delegation calls on FinMin Aurangzeb

ISLAMABAD: In a significant move towards enhancing Pakistan's economic future, Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, hosted a high-level delegation from global professional services firm Alvarez & Marsal at the Fin...
Need Help? Chat with us