Floods cause $30bn damage, losses in Pakistan – report
Foreign News

Floods cause $30bn damage, losses in Pakistan – report

The recent devastating floods in Pakistan have inflicted damage and losses of over $30 billion to the South Asian country, the Ministry for Planning, Development and Special Initiatives said in a report on Friday.

The damage, loss and needs assessment following the unprecedented floods in Pakistan calls for rebuilding based on the principles of the poor first, transparency, inclusion and climate resilience, the ministry said in its Post-Disaster Needs Assessment (PDNA) report.

The assessment estimated total damage to exceed $14.9 billion, while the total economic losses to reach about $15.2 billion.

The estimated needs for rehabilitation and reconstruction in a resilient way are at least $16.3 billion, which does not include much-needed new investments beyond the affected assets, it added.

The PDNA said that housing, agriculture and livestock, together with the transport and communications sectors, have suffered the most significant damage.

The report also assessed broader macro-economic and human impacts and recommended principles along with a comprehensive recovery and reconstruction framework which would be developed.


SOURCE: Xinhua

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