The country has suffered estimated damages of about US$2.9bil (RM12.2bil) from recent floods that caused large-scale destruction across the country, Pakistani Planning, Development and Special Initiatives Minister Ahsan Iqbal has said.
Speaking at an event to launch the ministry’s monthly development update and the preliminary flood damage assessment report on Friday, Iqbal said a detailed post-disaster needs assessment exercise is underway to determine the exact economic losses resulting from the calamity.
He said the initial estimate of damages stands at about 822 billion rupees (RM12.3bil), including 430 billion rupees (RM6.4bil) in the agricultural sector and 307 billion rupees (RM4.6bil) in infrastructure.
Iqbal said the floods also damaged around 229,000 houses nationwide.
He added that about 2,811km of roads, 790 bridges, 129 public buildings, 2,267 educational institutions, 243 health facilities, 1,297 commercial areas and 86 water infrastructure sites, including waterworks, sources and reservoirs, have also been damaged.
According to the preliminary assessment, the overall damages are expected to reduce Pakistan’s gross domestic product growth by 0.3 to 0.7 percentage points in the current fiscal year, which starts from July 2025 to June 2026, lowering the outlook to 3.5 to 3.9% from the earlier target of 4.2%.
The report also estimated that unemployment could rise by about 220,000 workers due to the disaster.
“In agriculture, we estimate a loss of approximately three million to 3.4 million bales of cotton, around one million tonnes of rice and between 1.3 million and 3.3 million tonnes of sugar cane,” Iqbal said.
He said these estimates depend on the duration of flooding in different areas.
“Where the water receded quickly, the loss was limited but in areas where it remained stagnant for long, the damage was more severe.”
Iqbal said the preliminary estimates will guide the government’s ongoing rehabilitation and recovery efforts, with a focus on rebuilding critical infrastructure, restoring livelihoods and enhancing resilience to future climate- induced disasters.
Iqbal also said that poverty alleviation is a central pillar of the national development agenda.
“The country is committed to eliminating poverty and building a society where no citizen is left behind, hungry or deprived of hope,” he said in a statement on the International Day for the Eradication of Poverty.
Highlighting various initiatives designed to address pressing economic challenges of the country, Iqbal said that a comprehensive plan, titled Uraan Pakistan (Rise Pakistan), has been formulated to ensure sustainable development, social inclusion and prosperity for all segments of society.
“When the economy stabilises, its benefits reach every section of the population,” he said.
Commenting on the second phase of the China-Pakistan Economic Corridor (CPEC), the minister said the government has been focusing on the industrial and agricultural sectors to promote inclusive growth and job creation under the CPEC.
“We are building a Pakistan where every citizen enjoys decent employment, quality education, better healthcare and a secure future,” Iqbal said. — Xinhua
