As floods and overflowing rivers wreak havoc across Pakistan, preliminary estimates put the country at an estimated $5.5 billion in damages, local media reported.
Sugarcane and cotton crops were completely destroyed in Sindh and Punjab provinces while onion, tomato and kharif peppers were partially damaged. The loss of cotton crops alone is estimated at $2.6 billion. Experts believe that Pakistan’s textile and sugar exports could decrease by one billion dollars.
At least 2 million tons of wheat stored in government warehouses in Sindh province were damaged by rains and floods, threatening the country’s food security, Sama TV reported.
The destruction in the agricultural sector not only means that Pakistan lacks supplies for industries, but also a racial crisis in the country.
Officials estimate that more than 8,00,000 head of cattle have been affected by the rains and floods this season.
The floods destroyed roads and communication networks in four regions. Officials put the estimated damage at $2 billion, Sama TV reported.
The under-construction Mohmand Dam and the damage to the headworks in the Differnet areas added to the flood losses.
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(Only the title and image of this report may have been reproduced by Business Standard staff; the rest of the content was generated automatically from the syndicated feed.)
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