Agri sector needs $3.97b to recover from flood damages

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Pakistan’s agriculture, food, livestock and fisheries sector required at least $3.976 billion to recover from the damage caused by the recent floods and torrential rains, a recent report issued by the Planning Ministry said on Saturday.

According to the Post Disaster Needs Assessment (PDNA), the floods incurred loss of over $3.725 billion or Rs 800 billion to the agriculture sector while total loss to the sector has been estimated at over $9 billion.

The PDNA was conducted by Ministry of Planning, Development and Special Initiatives in collaboration with other international development partners including World Bank, Asian Development Bank, European Union and the United Nations agencies with technical facilitation by the United Nations Development Programme (UNDP).

Meanwhile, World Bank Country Director for Pakistan Najy Benhassine Saturday tweeted that rehabilitation and resilient reconstruction in Pakistan needed over $16 billion, not including much needed new investments beyond affected assets, to support broader adaptation to climate change.

The report added that total damage is estimated at Rs 3.2 trillion (US$14.9 billion), total loss at Rs 3.3 trillion (US$15.2 billion), and total needs at Rs 3.5 trillion (US$16.3 billion).

The sectors that suffered the most damage are housing at Rs 1.2 trillion (US$5.6 billion); agriculture, food, livestock, and fisheries at Rs 800 billion (US$3.7 billion); and transport and communications at Rs 701 billion (US$3.3 billion).

The transport and communications sector has the highest reconstruction and recovery needs at Rs 1.1 trillion (US$5.0 billion); followed by agriculture, food, livestock, and fisheries at Rs 854 billion (US$4.0 billion), and housing at Rs 592 billion (US$2.8 billion).

The provinces of Sindh and Balochistan account for approximately 50 percent and 15 percent of recovery and reconstruction needs, respectively, the report added.—APP

 

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