Floods toll on cotton crop alone: Country to lose 1.5 percent of GDP: Gondal

Federal Minister for Food and Agriculture Nazar Muhammad Gondal on Monday said devastating floods caused severe losses to the economy and destroyed over three million bales of cotton resulting in a cumulative loss of about 1.5 percent to GDP. He said that around 2.364 million hectares cropped area was washed away by floods and Pakistan was unable to build the damaged irrigation systems and other infrastructure as yet.
The minister said floods damaged Rs 281 billion worth standing crops and the country will lose about 1.5 percent of GDP due to losses to the cotton crop alone. Gondal said the devastating floods have caused severe damage to the agriculture sector but the response of the international community is much less than what the rehabilitation process requires.
The minister was briefing a visiting French media team on "revival of agriculture after floods," here on Monday. "Our top priority after the rescue and emergency response was to restart the agricultural activities in the flood affected areas. We, by the grace of Almighty Allah, have succeeded in assisting our farmers from our available resources. A Rabi assistance package of Rs 2400 per acre and agricultural loan with a reduced mark-up of 8 percent has encouraged farmers to sow wheat, sunflower and canola in time.
The transparent distribution of Watan Cards has empowered the affected families to get back on their feet," the minister added. The delegation included Marie-France Calle, Frederic Bobin, Sophie Maliberaux and Tahir Khushnood, Press Counsellor of Pakistan in Paris. Minfa Secretary Junaid Iqbal gave a detailed presentation on the damages caused by floods, to the visiting team.