Pakistan says economic losses from climate-induced floods may exceed $40 billion

Women carry belongings salvaged from their flooded home after monsoon rains, in the Qambar Shahdadkot district of Sindh Province, of Pakistan, on September 6, 2022. (AP)
Short Url
Updated 13 September 2022
Follow

Pakistan says economic losses from climate-induced floods may exceed $40 billion

  • The government is carrying out comprehensive assessment of damages in collaboration with international financial agencies
  • Pakistan has revisited its initial evaluations after the finance ministry presented a report on the economic impact of the situation

ISLAMABAD: Pakistan’s planning minister Ahsan Iqbal said on Monday the economic losses caused by the recent floods in the country could go beyond $40 billion after the finance ministry presented an early assessment report to the country’s top body responsible for dealing with the devastation generated by the climate catastrophe.

About 1,400 Pakistanis have lost their lives in record rains and floods since monsoon began in June. Official estimates suggest the situation has affected the lives of more than 33 million people as flash floods washed away homes, crops, livestock and public infrastructure.

The government initially maintained the economic losses from floods could amount to about $12 billion, though it revisited its assessment as unprecedented monsoon rains continued.

“The devastating conditions suggest that the scale of flood losses is in the range of $30 billion to over $40 billion,” the minister said while talking to The Express Tribune. “We are going through the process of a comprehensive assessment of flood damages with the help of World Bank, Asian Development Bank, provincial and federal governments.”

Iqbal issued the statement after attending the National Flood Response Coordination Center’s meeting that discussed the report prepared by the finance ministry.

The government’s new assessment is higher than the $30 billion figure mentioned by United Nations Secretary General Antonio Guterres who visited the flood-affected areas recently.

Last month, the UN and the Pakistani authorities issued a flash appeal for $160 million to help the country which was still carrying out rescue and relief work.

While the flood situation is still alarming in several areas of southwestern Sindh province, officials believe that rehabilitation activities will require greater effort due to the extent of climate-induced destruction.

Pakistan has started receiving humanitarian assistance from the international community, though the government believes it will not be easy to mitigate the long-term economic impact of monsoon rains this year.


Pakistan condemns Netanyahu’s ‘hexagon of alliances’ plan, says alert to growing India-Israel defense ties

Updated 4 sec ago
Follow

Pakistan condemns Netanyahu’s ‘hexagon of alliances’ plan, says alert to growing India-Israel defense ties

  • Israel’s Netanyahu last week proposed an alliance of countries in and around Middle East against its adversaries
  • Pakistan maintains “robust military preparedness” to deter any potential aggression, says foreign office spokesperson

ISLAMABAD: Pakistan’s foreign office spokesperson on Thursday condemned Israeli Prime Minister Benjamin Netanyahu’s recent statement about forming a “hexagon of alliances” within or around the Middle East, saying Islamabad was alert to growing defense ties between New Delhi and Tel Aviv. 

Netanyahu on Sunday outlined plans to form a new regional bloc, describing it as a “hexagon of alliances” that he said could include Israel, India, Greece and Cyprus, along with other unnamed Arab, African and Asian states. He said the grouping would collectively stand against what he described as “radical” adversaries.

His comments came days before Indian Prime Minister Narendra Modi arrived in Israel on Wednesday for a two-day trip to bolster ties. The two are expected to discuss cooperation in science and technology, innovation, agriculture, water management, technology, defense and security during the trip. 

The statement drew a sharp response from Pakistan’s Senate, which unanimously passed a resolution on Tuesday rejecting Netanyahu’s remarks.

“I would also like to draw your attention to the recent resolution adopted by the Senate of Pakistan that strongly condemned such remarks and attempts to undermine Muslim unity,” Foreign Office spokesperson Tahir Andrabi told reporters during a weekly press briefing.

“We continue to condemn these provocative steps and statements by the leadership of the occupying power that threaten regional peace and stability,” he added.

Netanyahu had also said Israel’s goal was to create an axis of nations that see eye to eye against what he described as the “radical Shia” and “radical Sunni” axis of nations. 

Andrabi said attempts to divide the Muslim world along sectarian lines were a “nefarious design” on Netanyahu’s part.

India is Israel’s largest arms buyer and second-largest trading partner in Asia, after China. In response to a question on India’s growing defense ties with Israel, Andrabi said Pakistan remained cognizant of the risks posed by such cooperation.

“Yes, we remain seized of the defense ties between Israel and India,” the spokesperson said, noting that certain “systems and platforms” may have been used by India against Pakistan in the past.

“We are alive to the threats they pose to our security, sovereignty and territorial integrity, as well as to regional peace and stability.”

Andrabi said Pakistan maintained “robust military preparedness” to deter any potential aggression from hostile forces.

‘UTMOST CAUTION EXERCISED’

Andrabi spoke about Pakistan’s recent strikes against alleged militant camps in Afghanistan, saying Islamabad had conducted them in self-defense and with extreme caution to avoid casualties. 

Pakistan said it carried out airstrikes in Afghanistan against militant camps and hideouts in three provinces on Saturday night, killing over 100 militants. Afghanistan accused Pakistan of violating its territorial sovereignty and killing dozens of civilians. Kabul has vowed to retaliate. 

Andrabi said the strikes were carried out to ensure protection for the lives of the people of Pakistan and to prevent “imminent terrorist attacks.”

“These actions were directed solely against identified terrorist camps and hideouts, and utmost caution was exercised to prevent harm to civilians,” he said. 

He warned Pakistan would take necessary measures under its right to self-defense against “terrorist threats” emanating from Afghan territory.

On the safety of Pakistani nationals in Afghanistan following the strikes, Andrabi said Islamabad had raised the issue with Afghan authorities, adding that Islamabad expected “foolproof security” for Pakistani diplomats and civilians.