Pakistan flood damage estimated at $5.5 billion

ISLAMABAD: 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. (IANS)

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