August 30, 2010

Pakistan floods bring US$3-billion agriculture loss

Recent devastating floods across the country have brought Rs 250-billion (US$2.92-billion) damage to the agricultural sector said Pakistan's former federal minister Alhaj Sikandar Hayat Bosan.

Maximum losses of around Rs 100 billion (US$1.17 billion) was suffered by the small farmers, while some facing total annihilation of their crops.

Bosan did not agree with the initial estimate prepared by the Ministry of Food and Agriculture (MinFA) in co-ordination with the provincial governments and Azad Jammu and Kashmir (AJ&K) government.

He said the estimate of agriculture loss could be higher in Southern Punjab and some parts of Sindh as clear pictures from many areas have yet not been received. He said that maximum damage by the floods has been made to the minor crops of Kharif season, which includes corn.

"This loss is the most serious setback for the farming community because most of the small farmers have lost considerable number of livestock too as they had limited facility for their animals", he added.