KARACHI, April 24: The annual loss from environmental damage to Pakistan’s economy is estimated around $1.8 billion with major contributions from urban air pollution $369 million, municipal sold liquid waste $883 million, soil loss $357 million, range land degradation $125 million, deforestation $28 million and destruction of mangrove forests $15.7 million.

This was stated by chairman and president of Foundation of Progress M.A. Wajid at a national workshop on Eco-Economics — the winning strategy — organized by Foundation for Progress in collaboration with Sindh government, Institute of Bankers Pakistan on Wednesday.

He said currently environmental spending is about $18 million per year against the requirement of $85 million to tackle environmental problems.

Resident Director of UNDP Onder Yucer said the allocation of financial resources to protect the environment is a profitable investment operation as these investments will be helpful in protecting rationally exploiting and conserving resources over time and in a sustainable manner.

World Bank representative Qazi Azmat Isa said that combating poverty, illiteracy and population growth are Pakistan’s major priority areas. The bank has an ambitious programme of assisting the developing nations to overcome these critical factors impeding development and ensuring self-reliance and sustainability.

The joint recommendation of the workshop will be submitted to the provincial and federal governments.