Pakistan faces a damage of US$10 billion due to deadly floods, says Miftah Ismail

ISLAMABAD (92 News) - Finance Minister Miftah Ismail has said that Pakistan faces a loss of US$10 billion due to the deadly floods.

In an interview with BBC, he said that federal government is disbursing cash worth 25 thousand rupees to each women head of a household in flood affected areas. “4.2 million people will receive this cash assistance. Moreover, National Disaster Management Authority and provincial disaster management authorities are distributing ration packets, tents, medicines and mosquito nets among flood affected people.”

To a question, the minister said that government has taken off import duties from onion and tomatoes to address the issue of their shortage. “Due to recent import of a million ton there is no shortage of wheat expected. Eight hundred thousand tons of more wheat will also be imported,” he added.

Responding to another question, Miftah Ismail said that Pakistan has lost thirty percent of its cotton crop in the flood. “Although it is a challenging situation but government will import cotton also to fulfill the needs of textile industry. About ten percent of Pakistan's sugarcane has been destroyed. Pakistan has excess production of sugar this year and there will be no shortage.

“Government is planning to compensate the farmers for the loss of their crops. Draining out the water is an important task for provincial governments,” he concluded.