Economic losses in flood-hit Pakistan touches USD 18 billion: Reports
The cataclysmic floods in Pakistan has caused economic damages to the tune of around USD 18 billion to the country's teetering economy, wiping out more than 8 million acres of crops and displacing more than 33 million, media reports said on Friday.
Record monsoon rains and melting glaciers in northern mountains brought floods that have killed at least 36 people in the last 24 hours, taking the death toll to 1,391 as of Friday, according to the National Disaster Management Authority.
The rapid assessment cost on projected economic losses following Pakistan's worst food floods as calculated by the government and endorsed by the provinces has gone up further to the tune of around USD 18 billion, according to The News International newspaper.
The devastating floods have inundated a third of the country, with Prime Minister Shehbaz Sharif saying on Wednesday that parts of Pakistan seemed like a sea.
The losses further swelled because agricultural crops have been destroyed across 8.25 ..