Tag: Crops

  • Pakistan’s GDP likely to decrease to 2% in FY23 as flood damage may cost $30 billion

    Pakistan’s GDP likely to decrease to 2% in FY23 as flood damage may cost $30 billion

    Syed Zafar Ali Shah, Secretary of the Ministry of Planning, Development, and Special Initiatives, stated on Thursday that a preliminary estimate indicated that the GDP growth rate may remain at two percent in the current fiscal year and that the estimated cost of damage repair, including reconstruction, may be $30 billion as a result of the nation’s floods.

    He stated that we are gathering damage assessment data for a preliminary report and that the preliminary report and verification procedure would both be finished by October 15.

    According to The Nation, teams from the government and ten international development organisations, such as the World Bank (WB), the Asian Development Bank (ADB), the United Nations (UN), and others, are working together to prepare the preliminary report for the damage assessment of the country’s floods.

    In order to prepare early estimates on damage and reconstruction, he claimed that 100 specialists from development partners, such as the World Bank, the ADB, the UN, the EU, Turkey, etc., are currently working in 12 to 17 sectors.

    According to him, the Pakistani government would take the initiative in relief operations, and technical skills will be provided by professionals to evaluate the field damage and the cost of rehabilitation. The administration will solicit donations for reconstruction after making the final determination.

    In relation to the evaluation of the damage to the railways, Zafar Ali stated that it has been initially predicted that $2.3 billion will be needed for the reconstruction of the railroad tracks, bridges, and other associated facilities that have been harmed by floods. In total, 113 districts in Pakistan have been damaged by flooding, but 83 of those areas are catastrophe hit and require complete repair and rehabilitation work, according to him.

    He claimed that the cost to rebuild homes is projected to be $3 billion. However, he said that the provinces are consistently reassessing damage. When the water recedes, he said, the Sindh government will begin work on reassessing those places. He claimed that water covers the majority of Sindh’s railroad rails.

    He claimed that the Sindh flood had a significant negative impact on cotton, rice, and other crops. According to him, three million cotton bales are thought to have been lost. However, it appears that things are improving and the loss may only total 2.7 million bales, the secretary said, adding that it is still too early to provide a precise estimate of the cotton crop’s losses. He predicted that future wheat crop farming in Sindh and Khyber-Pakhtunkhwa would also be impacted.

    He claimed that the nation’s severe flooding has had an impact on 4.3 million families. He stated that more than 0.3 million people in Balochistan had been impacted by the floods. According to him, the ADB has authorised a $3 million grant to boost the Pakistani government’s emergency relief efforts in the wake of massive flooding around the nation.

    The planning secretary also mentioned that a Dutch expert would be working with NESPAK to update the flood prevention strategy for 2017. He said that the administration has so far used $303 million in donor funding that was intended for disaster relief. According to him, this sum consists of $3 million from the ADB and $300 million from the World Bank.

    Despite the $160 million in pledges made so far by the world community, he claimed that much more money will be needed to complete the reconstruction and rehabilitation.

    The planning secretary responded to a question concerning diverting PSDP-2022–23 monies for flood victims by saying that work is still being done on this issue, but no decisions have been made as of yet. He stated that the Benazir Income Support Program is now supporting the flood-affected population with Rs70 billion from the government.

  • Pakistan to import vegetables from neighbouring countries to overcome shortage

    Pakistan to import vegetables from neighbouring countries to overcome shortage

    After devastating floods ravaged the nation, Pakistani officials made the decision to import onions and tomatoes from Iran and Afghanistan due to the rising prices and imminent food crisis.

    The production and supply of vegetables and other crops has been impacted by the recent torrential rains and flooding.

    At a meeting presided over by Commerce Minister Naveed Qamar, the Ministry of Commerce made the announcement. The minister also examined the country’s supply of tomatoes and onions.

    To address the nationwide demand for these crops, the session voted to facilitate the import of onions and tomatoes from Afghanistan and Iran.

    According to The News, the panellists predicted that there will be a tomato and onion shortage in the nation within the next three months. They also stated that because recent flooding has harmed crops, a shortage and price increase are anticipated.

    The News reports that the importation of tomatoes and onions will help to uplift their availability and maintain their pricing.

    The Ministry of Commerce would collaborate with the FBR and the Ministry of National Food Security, it was decided at the meeting. The session also resolved to request reductions in taxes and charges from the federal cabinet’s Economic Coordination Committee for imported tomatoes and onions.

    Earlier, Qamar had emphasised the importance of taking quick action to make tomatoes and onions available to consumers and to stabilise the skyrocketing costs of these commodities. Due to a lack of supply in the market as a result of recent floods, the price of onions and tomatoes has reached Rs 300 per kg.

  • Wheat production will break all records this year: experts

    Wheat production will break all records this year: experts

    Pakistan will likely experience an upsurge in wheat production this year as experts are giving projections on the surplus of wheat, media reported.

    A media organisation conducted surveys that say that Pakistan will produce over 28.75 million tons of wheat in 2021. This yield will break the record of 2016-17 when Pakistan produced 26.67 million tons.

    Over the last two years, Pakistan had to import two million tons of wheat to cater for the shortage caused by low harvest. If the projections come true, it will eliminate the need for any imports.

    On the contrary, the Federal Committee on agriculture predicted that the production would remain at 26.04 million tons while showing an increase of 1.7 per cent. The committee gave these estimations while reviewing the performance of Rabi Crops in(2020/21). But the farmers are more optimistic about harvesting a greater output of wheat in the 2020/21 season.

    According to the Punjab Agriculture Department, the production of crops on the provincial level had jumped around 600,000 tons.

    The news report quoted the Chairman of the Agri-Forum Pakistan, Ibrahim Mughal, as saying, “We have never heard so consistently about 40-45 maunds per acre yield by so many growers this year”.

    A conducive temperature when the crop was sown has resulted in favourable prospects for high output. “Safely, we may see at least 1.5 million tons of more production than the initial estimates,” he said.