Punjab: 4.3pc of agricultural land affected by floods, 1.3mn acres submerged

Lahore: The recent floods in Punjab have affected 4.3 percent of the agricultural area and submerged 1.3 million acres of land.

According to a media report, the provincial agriculture minister said that the floods affected nine percent of the rice, seven percent of the sugarcane, and two percent of the cotton crops, while the highest loss was in 28 districts located on the banks of the Ravi, Chenab, and Sutlej rivers.

According to experts, the economic loss of the floods is Rs409 billion, which is 3.0 percent of the GDP, while a 15 to 20 percent decrease in agricultural production can reduce the growth rate by another 0.5 to 1 percent.

In addition, there is a risk of a 20 to 30 percent increase in food prices, and the trade deficit is expected to reach about $2 billion due to a decrease in cotton imports and exports of textiles, rice, and sugar.

Experts say that the government should provide immediate financial assistance to affected farmers, reschedule loans, ensure an affordable supply of seeds and fertilizers, stop farming in flooded areas, and take steps to adapt agricultural patterns to climate change.