Web Desk (LTN NEWS): Finance Ministry has sent a report to the PM’s Office regarding the damage to the flood-affected economy.
According to sources in the Ministry of Finance, a report has been prepared based on preliminary estimates of the damage caused by the flood, which includes other damages to agriculture and infrastructure due to the flood.
According to the sources, the weak country’s economy suffered an irreparable loss of 12 billion dollars due to floods, in view of which the economic growth rate is estimated to be reduced from 5% to 3.3%.
Sources say that in the report sent to the PM’s Office, there is a fear of a decrease in the rate of providing employment to 1.2% due to the decrease in the economic growth rate.
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According to the report, development projects worth about 180 billion rupees will not be completed due to the floods, and 6 lakh people will not be able to get jobs due to the affected projects.
In this regard, Finance Minister Miftah Ismail has contacted the IMF officials, while sources say that the report of the flood damage will be sent to the Asian Development Bank, the World Bank, and other financial institutions.
Sources further say that it has also been decided to appeal for financial assistance from Asian Development Bank, World Bank, and other financial institutions.
