ISLAMABAD: Natural disasters inflicted a damage of USD 36.4 billion, economic losses aside, and affected more than 100 million individuals in Pakistan, from 1980 till last year, revealed the Economic Survey for outgoing fiscal year 2024-25.
“Between 1980-2024, Pakistan experienced 224 extreme natural disaster events. Among these disasters, floods have become the most catastrophic threat in terms of economic damage and have impacted a vast population. With 109 occurrences across various subtypes of (flash, riverine, and general) floods, have affected more than 100 million individuals and inflicted a total damage of USD 36.4 billion – economic losses set aside,” reads the Economic Survey issued by the Finance Ministry on Monday.
“This disproportionately high impact underscores climate injustice,” the document notes.
Additionally, says the Economic Survey, the extreme temperatures, particularly heatwaves, are emerging as an ever-deadlier threat, accounting for 2,741 fatalities in 13 events in Pakistan.
Tropical cyclones, although just five in number, inflicted more than USD 1.7 billion in damages, the document reveals.
Droughts, with two reported occurrences, still affected more than 6.9 million individuals severely and resulted in USD 247 million of damages, highlighting the severity of the disaster and its consequences on Pakistan’s agrarian economy, the Economic Survey reveals.
According to the Survey, Pakistan’s first-ever carbon market policy was launched during the 29th session of the Conference of the Parties (COP29) held in Baku, Azerbaijan, last year.
Through this policy, Pakistan aims to accelerate clean technology deployment and attract investment in sectors and projects with significant emissions reduction potential, including energy, agriculture, waste management, and forestry, reads the Economic Survey.
Copyright Business Recorder, 2025