Minister for Planning, Development and Special Initiatives Ahsan Iqbal Monday said that Pakistan faced unprecedented devastation due to torrential rains and flooding in most parts of the country, and the spending on flood recovery in the country might cross US$3 billion by June this year.
Pakistan faced huge economic losses due to damage of infrastructure and loss of crops that led to significant losses in GDP, higher poverty rates, degradation of eco-system, degradation of environment and climate, job loss and disruption, degradation of environment and climate, while women and girls are also at risk of gender based violence and child marriage, he said while speaking at the International Conference on Climate Resilient Pakistan, co-hosted by the Government of Pakistan and the United Nations in Geneva. He said the Post-Damage Needs Assessment, conducted jointly by the Government of Pakistan and its international development partners, including the World Bank, the Asian Development Bank, the European Union, UN relief agencies, in October, has estimated the aggregate cost of the calamity at $30.1 billion.
This includes $14.9 billion in damages to infrastructure and $15.2 billion in economic losses. The minimum needs identified for recovery, rehabilitation and reconstruction are estimated at $16.3 billion.
He said out of the total $16.3 billion, Pakistan government would spend 50% from its own resources, while it has requested the international community to help Pakistan with $8