Islamabad, Pakistan – Construction and financial experts have estimated that the cost of reconstructing Pakistan’s Flood-Damaged infrastructure, which was damaged by severe floods last year, may exceed $12 billion. The financial experts also believe that it will take almost two years for Pakistan to complete the overall process. Pakistan is currently expecting a loan of $6 billion from the IMF. The amount required for Flood-Damaged Infrastructure rehabilitation is twice that of the IMF loan.
Since mid-June, record monsoon rains have caused flash floods severely affecting Pakistan’s already cash-strapped economy. According to reports, over 1,500 casualties have been reported across Pakistan, and deluges have destroyed large swathes of crops.
It has been reported by Pakistan’s National Disaster Management Authority (NDMA). That the floods destroyed 13,0835 kilometres of roads, 194,3978 houses and 375 bridges. There are a total of 778,560 houses in the affected areas, which are completely damaged and need the whole construction.
Estimates provided by financial experts linked with Pakistan’s construction industry suggest that a sum of Rs 2.735 trillion ($12.32 billion) is required to restore and reconstruct houses, roads, and bridges. The country is already facing significant economic challenges, and the damage caused by the floods is only exacerbating this situation.