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Pakistan planning minister: floods cost at least $10 billion

Early estimates put the damage from Pakistan’s recent deadly floods at more than $10 billion, its planning minister said on Monday (August 29). He added that the world has an obligation to help the South Asian nation cope with the effects of man-made climate change.
Unprecedented flash floods caused by historic monsoon rains have washed away roads, crops, infrastructure and bridges, killing at least 1,000 people in recent weeks and affecting more than 33 million, over 15 percent of the country’s 220 million population, citing Reuters, the al-Arabiya English said.
The climate change minister has called the situation a “climate-induced humanitarian disaster of epic proportions.”
Ahsan Iqbal told Reuters in an interview: “I think it is going to be huge. So far, (a) very early, preliminary estimate is that it is big, it is higher than $10 billion."
“So far we have lost 1,000 human lives. There is damage to almost nearly one million houses,” Iqbal said at his office. “People have actually lost their complete livelihood.”
Horrifying footage from S. #Pakistan today of entire building washed away by floods. Over 935 people killed, more than 33 million affected, worst natural disaster for country in decades: pic.twitter.com/aO6ZMlQycf
— Joyce Karam (@Joyce_Karam) August 26, 2022
Iqbal rated the recent floods worst than those that hit Pakistan in 2010, for which United Nations (UN) had issued its largest ever disaster appeal.
The minister said it might take five years to rebuild and rehabilitate the nation, while in the near term it will be confronted with acute food shortages.
Floods, other water-related disasters could cost global economy $5.6 trillion by 2050
To mitigate food shortfalls, Finance Minister Miftah Ismail said the country could consider importing vegetables from arch-rival India.
The two neighboring countries have not had any trade for a long time.
“We can consider importing vegetables from India,” Ismail told local Geo News TV, adding other possible sources of food imports included Turkey and Iran.
Flood-hit Pakistan: UAE president orders relief aid, Saudi Prince sends his condolences
Food prices have already shot up due to flooded crops and impassable roads.
India Prime Minister Narendra Modi said he was saddened by the devastation caused by the floods.
Source: alarabiyaenglish
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BENEFIT Sponsors Gulf Uni...
- April 17, 2025
BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has announced its sponsorship of the “Innovation and Sustainable Technology Solutions Competition (GU - IST Solutions), hosted by Gulf University at its main campus.
This strategic sponsorship reflects BENEFIT’s active role in advancing technological innovation and fostering sustainable solutions to future challenges. It also seeks to empower Bahraini youth by enhancing their skills, capabilities, and competitiveness in innovation and solution development—contributing meaningfully to the broader goals of sustainable development across all sectors.
As part of BENEFIT’s active involvement in the competition, the company has announced that Hanan Abdulla Hasan, Senior Manager of Public Relations and Communication, will serve on the competition’s supervisory committee. Her upcoming participation reflects BENEFIT’s forward-looking commitment to championing academic and professional excellence.
Commenting on the occasion, Hanan Abdulla Hasan, Senior Manager of Public Relations and Communication at BENEFIT, said, “We are privileged to support this pioneering initiative, which aligns seamlessly with BENEFIT’s enduring commitment to fostering innovation and nurturing the potential of Bahrain’s youth. Our participation is rooted in a deep sense of social responsibility and a firm belief in the pivotal role of innovation in shaping a sustainable future. Through such platforms, we seek to empower the next generation with the knowledge, skills, and foresight required to develop impactful solutions that address future challenges, in line with the United Nations Sustainable Development Goals 2030.”
Dr. Aseel Al Ayash Dean of the College of Engineering in Gulf University commented, “We extend our sincere gratitude to BENEFIT for their generous sponsorship and support of the Innovation and Sustainable Technology Solutions Competition. This contribution plays an instrumental role in helping us achieve the strategic goals of this initiative, namely, cultivating a culture of innovation and sustainability, encouraging efforts that address the imperatives of sustainable development, and enhancing the practical and professional capabilities of our students and participants.”
The event will bring together a diverse spectrum of participants, including secondary school students, university undergraduates, engineers, industry professionals, entrepreneurs, academic researchers, and subject matter experts representing a wide range of disciplines.
The competition seeks to inspire participants to develop and present innovative, sustainable technologies aimed at addressing pressing environmental, social, and economic challenges. It encourages the formulation of business models that integrate advanced technological solutions with core principles of sustainability. Moreover, it serves as a platform for emerging leaders, entrepreneurs, and innovators to contribute to the advancement of the Sustainable Development Goals, promote the ethos of responsible technology, and demonstrate its transformative potential across various sectors.
Attendees will have the opportunity to view a series of project presentations submitted by participants, covering diverse areas such as eco-friendly product design, smart and sustainable innovations, renewable energy technologies, water conservation and management, waste minimisation and recycling, green architectural solutions, and sustainable transportation systems. Outstanding projects will be formally recognised and awarded at the conclusion of the event.
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