ISLAMABAD: The country faced a loss of $31.5 billion in 2022-23 in the wake of the unprecedented floods that hit Sindh, Balochistan, and some parts of south Punjab, says the Economic Survey 2022-23. The 2022 floods have shown Pakistan’s high vulnerability to climate change despite contributing only less than one percent of global greenhouse gas emissions. Since July last, the federal and provincial authorities have been working tirelessly to manage the massive relief efforts across the country, together with local, national and international partners. One-third of the country has been underwater, and 33 million people have been affected. Nearly 8 million people are reportedly displaced. The scale of the disaster is unprecedented in Pakistan, exceeding the damage of the 2010 floods.
As per the Economic Survey of Pakistan for 2022-23, the damage has been worked out at $14.9 billion, whereas the loss to the GDP at $15.2 billion, and the total needs of rehabilitation at $16.3 billion. The sectors that bore the brunt are housing at $5.6 billion, agriculture, food, livestock, and fisheries at $3.7 billion and transport and communications at $3.3 billion. The transport and communications sector has the highest reconstruction and recovery needs at $5 billion, followed by agriculture, food, livestock, and fisheries at $4 billion, and housing at $2.8 billion. The provinces of Sindh and Balochistan account for approximately 50 percent and 15 percent of recovery and reconstruction needs, respectively. Damage has been defined as the direct costs of destroyed or damaged physical assets. It has been valued in monetary terms, with costs estimated based on replacing or repairing physical assets and infrastructure, considering the replacement price prevailing before the crisis.
Nisar Ahmed Khan, an officer of Police Service in Grade 20, has been transferred from FIA to KP government
Formal office order has been issued with approval of federal secretary Science and Technology
Punjab Charities Commission has organized an open discussion between NGOs and students of various universities
Significant change is reduction of KE’s US dollar-based ROE from 15% to 14% in line with other IPPs
This growth is anticipated to have a positive impact on the unemployment rate, albeit a slight one