Floods In Pakistan Caused Over 30-Billion-USD Damage, Losses: Report

Floods In Pakistan Caused Over 30-Billion-USD Damage, Losses: Report

ISLAMABAD, Oct 29 (NNN-APP) – The recent devastating floods in Pakistan have inflicted damage and losses of over 30 billion U.S. dollars to the country, the Ministry for Planning, Development and Special Initiatives said, in a report yesterday.

The damage, loss, and needs assessment, following the unprecedented floods called 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 dollars, while the total economic losses to reach about 15.2 billion dollars.

The estimated needs for rehabilitation and reconstruction in a resilient way are at least 16.3 billion dollars, 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.

– NNN-APP

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