ISLAMABAD: Federal Minister for Planning, Development, and Special Initiatives Ahsan Iqbal said that Pakistan suffered estimated damages and losses of USD 2.9 billion across all provinces due to the recent floods.
He said the overall damage to the GDP is estimated to be at 0.3–0.7 percent, reducing the financial year growth outlook to 3.5–3.9 percent, against the target of 4.2 percent. “The agriculture sector suffered the biggest loss of Rs 430 billion, while infrastructure losses stood at Rs 307 billion.
The disaster claimed 1,039 lives and left 1,067 people injured. A total of 229,763 houses were damaged — 59,258 were destroyed and 170,505 were partially damaged.
Additionally, 22,841 livestock were lost, 2,811km of roads destroyed, along with 790 bridges, 129 public buildings, 2,267 educational institutions, 243 healthcare facilities, 1,297 commercial areas, and 866 water infrastructure sites,” the minister said while addressing a news conference on Friday.
While unveiling the Preliminary Assessment Report, he said that the majority of the financial impact was concentrated in Punjab, highlighting the province’s vulnerability to such disasters. Other provinces and regions experienced comparatively smaller but still significant damage in terms of local economies and infrastructure.
Regarding the agriculture sector, the minister said that according to provincial governments, vast tracts of cultivated land remain submerged, raising concerns over food security, export earnings, and rural livelihoods.
He said that due to crop losses, the agriculture sector’s growth is now projected at 3.0–3.8 percent, compared to the target of 4.2 percent. He added that estimated crop losses include 3.0–3.4 million bales of cotton, 0.6–1.2 million tons of rice, 1.3–3.3 million tons of sugarcane, and 0.6–1.3 million tons of maize.
Copyright Business Recorder, 2025
