As flash floods and overflowing rivers wreak havoc across Pakistan, preliminary estimates show that the country has already suffered damages worth $5.5 billion, local media reported.
In Sindh and Punjab provinces, sugarcane and cotton crops have been destroyed completely while onion, tomato, and Kharif chilies have been partially damaged. The loss of cotton crops alone has been estimated at $2.6 billion. Experts believe Pakistan's textile and sugar export could drop by $1 billion.
At least 2 million tonnes of wheat stored at the government's warehouses in Sindh have been spoiled due to rains and floods, threatening the country's food security, Samaa TV reported.
The destruction in the agriculture sector means that Pakistan will not only encounter a supply shortage for industries but there could also be a seed crisis in the country.
Officials have estimated that over 8,00,000 cattle heads have been lost to rains and floods this season.
The floods have also destroyed road and communication networks in four provinces. Officials have put the estimated damages at $2 billion, Samaa TV reported.
The damage suffered by under construction Mohmand dam and headworks at differnet locations has added to the flood losses.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)