Due to the recent flood disasters, Pakistan’s GDP growth is likely to remain at 2% instead of the target of 5.01%.
The GDP growth target for the current fiscal year was set at 5.01 percent, sources in the Ministry of Planning say that the flood damage and rehabilitation could be estimated at $30 billion.
According to Ministry of Planning sources, Pakistan is making flood damage estimates with the help of 10 international development partners, damage estimates are being made with the help of World Bank, Asian Development Bank, European Union and United Nations experts.
Experts from global development partners will finalize the damage report by October 15.
This year, 113 districts have been affected by floods, 83 districts have been declared as calamities, while the loss of three million bales of cotton due to floods has been estimated.
According to the sources, 3 billion dollars will be required for the reconstruction of houses in the affected areas, while 2.3 billion dollars have been estimated for the maintenance of railway tracks, bridges and other infrastructure.