Pakistan has informed the International Monetary Fund (IMF) that the recent floods have been estimated. 744 billion economic losses, the agriculture sector has 60 % loss.
The government is looking for adjustments in the goals of its IMF program to calculate the effects of destruction.
Officials said that the program’s basic budget surplus and provincial cash surplus goals to reflect flood damage are focused. The IMF had previously set a basic additional target of Rs 500. 3.1 trillion, RS with initial allowance. 500 billion in adjustment. Pakistan now wants to relieve the rupee. The Express Tribune reported.
Floods, which submerged large parts of the country and forced 6.5 million people to evacuate, has rapidly reduced the government’s growth approach. The economic growth for the current fiscal year is now less than 3.5 % target, though the World Bank is still more than the latest 2.6 % forecast.
Punjab province suffered the most losses, with which it suffered a shortage. There are 632 billion, followed by Khyber Pakhtunkhwa (Rs 51.3 billion), Sindh (Rs 32.2 billion), and Balochistan (Rs 6.8 billion). RS only in the field of agriculture. Mainly 439 billion losses in crops. Cotton production is expected to decline by 3.4 million bales, while rice and sugarcane production will also decrease. Corn production is likely to reduce by 13 % that it is 9.2 million tonnes.
RS in the industrial sector. Its growth is revised at 4.1 % in 48 billion losses. RS to the Services Department. 257 billion damages, led by transport and storage, which RS. 150 billion and its growth rate was almost half.
The damage to the infrastructure is wide: 229,763 houses, 790 bridges, and 866 water systems were destroyed, while 2.811 km or roads were damaged. Floods also disrupted 2.267 schools, 243 health facilities, and 129 public buildings in 70 districts.
The devastation claimed to have injured 1,037 lives and 1,067 people across the country. Punjab and Khyber Pakhtunkhwa were most affected by casualties and property damage.