Initial economic losses from Pakistan floods at least $10 bln - planning minister

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Initial economic losses from Pakistan floods at least $10 bln - planning minister
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ISLAMABAD — The initial economic losses from floods in Pakistan could reach at least $10 billion, Planning Minister Ahsan Iqbal told Reuters in an interview on…

Unprecedented and historical flash floods caused by abnormal monsoon rains have washed away roads, crops, infrastructure and bridges, killing at least 1,000 people in recent weeks and affecting more than 33 million.We deliver the local news you need in these turbulent times on weekdays at 3 p.m.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails.

The minister said it might take five years to rebuild and rehabilitate the South Asian nation of 200 million people, which will be facing an acute challenge of food shortage. He said 45% of cotton crops had been washed away in addition to huge damage to vegetables and fruit and rice fields. “So far we have lost 1,000 human lives. There is damage to almost nearly one million houses,” Iqbal said at his office.Pakistan has already sought international help to deal with the overwhelming floods, and some countries have already sent in supplies and rescue teams.

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