Flood-affected areas: World Bank, ADB estimate reconstruction cost at $25-30 billion

World Bank (WB) and Asian Development Bank (ADB) have estimated $9.5 billion losses on historic cost basis to the public and private infrastructure of Pakistan by the recent floods but the country would require $25 to $30 billion based on current cost estimates for construction and rehabilitation, it was learnt.
Sources said that WB and ADB Damage Needs Assessment (DNA) have been submitted to the government but it would be formally unveiled at the meeting of Friends of Democratic Pakistan in Brussels on October, 14. "We have received the DNA but the report will be formally made public in a couple of days," an official said requesting anonymity. The high ups of Ministry of Finance said to have shared the findings of DNA with foreign office during a meeting held on Monday.
Pakistan had made formal request to the WB and ADB on August 13 to conduct DNA study to have credible figures of total losses caused by the floods to the Pakistan economy. The DNA has been completed within two months and its outcome would be shared with the provinces, who are major stakeholders.
Minister of State for Finance and Economic Affairs Hina Rabbani Khar is likely to represent Pakistan in FoDP meeting in Brussels. The meeting will also be attended by the high ups of ADB and WB. The floods caused major damage to the agriculture, livestock and infrastructure and estimated damage to the agriculture sector in all the provinces is around Rs 428 billion.
According to the findings of the report, Sindh suffered highest losses of Rs 350 billion, followed by Punjab with Rs 253 billion, Khyber Pakhtunkhwa Rs 103 billion and Balochistan Rs 55 billion. The floods losses have been estimated at Rs 5 billion in Federally Administered Tribal Area (Fata).
The floods have caused huge losses to the public and private property, crops and other infrastructure in all four provinces and Fata. The DNA is divided into two portions, one on estimate of total damage to the economy while the other estimated rehabilitation and reconstruction needs of the country. According to sources need portion of the joint DNA has been prepared on estimates of prevailing reconstruction market cost ie, between $25 to $30 billion.