Pakistan to spend $3bn on flood recovery by end-June
Having spent about $1.5 billion equivalent from its resources so far on flood rehabilitation, Pakistan would be seeking concessional loans from international development partners during the upcoming ‘donor conference’ in Geneva to build a resilient future with over $16bn worth of recovery, rehabilitation and reconstruction activities. Talking to journalists, Secretary Ministry for Planning, Development and Special Initiatives Syed Zafar Ali Shah said that the reconstruction and rehabilitation was an ongoing process and besides the about $1.5bn worth of expenditure so far, the spending on flood-hit areas would increase to $3bn by end of the current fiscal year. About Rs400bn more will be spent till the end of 2022-23 in flood-hit areas for rehabilitation of infrastructure, agriculture and other sectors, he said. “By June 30, we are planning to spend $2.5 to $3bn in the flood-hit areas from our resources and repurposing of loans”, he adds. The compensation amount, he said, was also being distributed through the Benazir Income Support Programme (BISP), he said.