Pakistan planning minister: floods cost at least $10 billion

Pakistan planning minister: floods cost at least $10 billion
August 30, 2022, 8:00 am

People are seen outside their flooded house, following rains and floods during the monsoon season in Sohbatpur, Pakistan August 28, 2022. (Reuters)

Early estimates put the damage from Pakistan’s recent deadly floods at more than $10 billion, its planning minister said on Monday (August 29). He added that the world has an obligation to help the South Asian nation cope with the effects of man-made climate change.

Unprecedented flash floods caused by historic monsoon rains have washed away roads, crops, infrastructure and bridges, killing at least 1,000 people in recent weeks and affecting more than 33 million, over 15 percent of the country’s 220 million population, citing Reuters, the al-Arabiya English said.

The climate change minister has called the situation a “climate-induced humanitarian disaster of epic proportions.”

Ahsan Iqbal told Reuters in an interview: “I think it is going to be huge. So far, (a) very early, preliminary estimate is that it is big, it is higher than $10 billion."

“So far we have lost 1,000 human lives. There is damage to almost nearly one million houses,” Iqbal said at his office. “People have actually lost their complete livelihood.”

Horrifying footage from S. #Pakistan today of entire building washed away by floods. Over 935 people killed, more than 33 million affected, worst natural disaster for country in decades: pic.twitter.com/aO6ZMlQycf
— Joyce Karam (@Joyce_Karam) August 26, 2022

Iqbal rated the recent floods worst than those that hit Pakistan in 2010, for which United Nations (UN) had issued its largest ever disaster appeal.

The minister said it might take five years to rebuild and rehabilitate the nation, while in the near term it will be confronted with acute food shortages.

Floods, other water-related disasters could cost global economy $5.6 trillion by 2050

To mitigate food shortfalls, Finance Minister Miftah Ismail said the country could consider importing vegetables from arch-rival India.

The two neighboring countries have not had any trade for a long time.

“We can consider importing vegetables from India,” Ismail told local Geo News TV, adding other possible sources of food imports included Turkey and Iran.

Flood-hit Pakistan: UAE president orders relief aid, Saudi Prince sends his condolences

Food prices have already shot up due to flooded crops and impassable roads.

India Prime Minister Narendra Modi said he was saddened by the devastation caused by the floods.

Source: alarabiyaenglish

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