Pakistan floods cost at least $10 billion: Planning minister

Early estimates place the cost of Pakistan's recent devastating floods at more than $10 billion, the country's planning minister said on Monday, adding that the international community has a duty to assist Pakistan in coping with the consequences of human-caused climate change.

At least 1,000 people have died in recent weeks as a result of unprecedented flash floods brought on by historic monsoon rains that destroyed roads, crops, infrastructure, and bridges. This represents more than 33 million people, or over 15% of the 220 million inhabitants in the country.

The climate change minister has called the situation a "climate-induced humanitarian disaster of epic proportions."

"I think it is going to be huge. So far, (a) very early, preliminary estimate is that it is big, it is higher than $10 billion," Ahsan Iqbal told Reuters in an interview.

"So far we have lost 1,000 human lives. There is damage to almost nearly one million houses," Iqbal said at his office.

"People have actually lost their complete livelihood."

Iqbal deemed the recent floods to be worse than the floods that struck Pakistan in 2010, for which the UN had made its largest-ever disaster appeal.

In the near future, the country would face severe food shortages, according to the minister, who predicted that it may take five years to reconstruct and restore the country.

Miftah Ismail, the finance minister, suggested that India be used as a source for vegetables to help the nation's food shortages.

Long periods of no trade have existed between the two neighbouring nations.

"We can consider importing vegetables from India," Ismail told local Geo News TV, adding other possible sources of food imports included Turkey and Iran.

(With inputs from agencies)

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