ISLAMABAD: Flooding has inflicted irreparable loss of over $30 billion on Pakistan’s economy, ARY News reported on Friday, citing the report of the Planning ministry.
The planning and Development ministry has compiled a report on losses in devastating floods. The losses have now crossed $30 billion mark.
The report said 16.26 billion US dollars are needed for the recovery and rehabilitation of the flood victims and the damaged infrastructure.
The devastating floods have jacked up the prices of essential items while over 15 million people are facing poverty. Furthermore, the report has expressed fear of over 4 million people can lose their jobs.
Read more: US announces additional $30m in flood assistance to Pakistan
Earlier, the United States announced an additional $30 million in flood assistance to Pakistan.
According to the statement issued by the US embassy, the new funding brings the United States’ total assistance to Pakistan for flood response, food security, and disaster preparedness and capacity-building efforts to $97 million this year.
US Ambassador Donald Blome announced the additional funds during a visit with USAID’s implementing partner, ACTED in the Shikarpur district of Sindh, where he helped to distribute emergency shelter, latrine, and hygiene kits to flood victims.
