ISLAMABAD, Jun 9 (APP):Federal Minister for Finance and Revenue, Senator Muhammad Ishaq Dar on Friday said the government has started work on rehabilitation and reconstruction projects amounting to Rs 578 billion in the flood-affected areas which were unable to contribute in country’s economy after disastrous monsoon floods of 2022.
The Finance Minister made these remarks in his speech while rolling out the Federal Budget 2023-24 here at the National Assembly.
Senator Dar said the country’s economy was badly hit by internal and external challenges during the past one year. During last year people of Balochistan, Sindh and Khyber Paktunkhawa were severely affected by the devastating floods.
The damages caused by floods were calculated upto $30 billion whereas the federal and provincial government took serious steps in the aftermath for reviving the impacted populace, he added.
He said according to the United Nations Organisation FAO, the prices of edible items including oil, wheat etc., during 2021 to 2022 were increased by 14.3 per cent.
He said other things which resulted in the increase in inflation were the Russia-Ukraine war, global marker increase in oil and gas prices and rise in interest rate in the European countries.