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ISLAMABAD: Having spent about $1.5 billion equivalent from its resources so far on flood rehabilitation, Pakistan would be seeking concessional loans from international development partners during the upcoming ‘donor conference’ in Geneva to build a resilient future with over $16bn worth of recovery, rehabilitation and reconstruction activities.
Talking to journalists, Secretary Ministry for Planning, Development and Special Initiatives Syed Zafar Ali Shah said that the reconstruction and rehabilitation was an ongoing process and besides the about $1.5bn worth of expenditure so far, the spending on flood-hit areas would increase to $3bn by end of the current fiscal year.
About Rs400bn more will be spent till the end of 2022-23 in flood-hit areas for rehabilitation of infrastructure, agriculture and other sectors, he said.
“By June 30, we are planning to spend $2.5 to $3bn in the flood-hit areas from our resources and repurposing of loans”, he adds. The compensation amount, he said, was also being distributed through the Benazir Income Support Programme (BISP), he said.
Islamabad will seek soft loans at donors’ moot
Mr Shah said that according to estimates finalised in October through the support of international aid agencies, a total of $ 30.1bn in damages and economic losses had been caused by floods. The estimated needs for rehabilitation and reconstruction in a resilient way were put at least $16.3bn without including much-needed new investments beyond the affected assets to support Pakistan’s adaptation to climate change and overall resilience of the country to future climate shocks.
He said housing, agriculture and livestock and transport & communications sectors suffered the most during floods with their respective losses estimated at $5.6bn, $3.7bn and $3.3bn.
Sindh is the worst affected province with close to 70pc of total damages and losses, followed by Balochistan, Khyber Pakhtunkhwa and Punjab.
Giving a break-up, he said losses in Sindh stood at $20bn followed by $4bn in Balochistan and $700m each in Khyber Pakhtunkhwa and Punjab and $5bn of inter-provincial infrastructure.
However, he said the damage assessment in Sindh and Balochistan was still in progress. Responding to a question he said, the utilisation of the Public Sector Development Programme had been very slow at about 14pc by the third week of December against the total allocations despite healthy authorisations.
He said the Planning Division had authorised Rs257bn so far for PSDP projects but the relevant agencies could utilise only Rs145bn against a PSDP budget of Rs727bn.
Published in Dawn, December 30th, 2022
