Flood Essay

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Flood inflation:
Flood causes many job losses. It is estimated that price of food went double during flood. Routes were blocked that’s why transportation was totally stopped, Agricultural crops were badly affected in sindh, laces of live stock washed away that causes price up and things were unaffordable to purchase, inflation went double. EXAMPLE: (1): During august 2010 Karachi Stock Exchange (KSE) performed weakly due to flood crisis, damage in exports and broader inflationary concerns. The Karachi Stock Exchange (KSE) 100-share index closed at 9,598.71 points by losing of 261.66 points or 2.9 percent.
EXAMPLE: (2): Pakistan, the world’s third-biggest importer of palm oil, may buy 10 percent less of the commodity in October and November than in July after the country’s worst- ever floods destroyed villages.
EXAMPLE: (3): During flood the prices of basic items such as tomatoes, onions, and potatoes were very high, becoming out of reach for many people who struggled to get by even before the floods hit.
The price of garlic was increased to Rs260 per kilogram. Tomato prices have been increased from Rs60 to 100 per kg, onion from Rs20 to 40 per kg, potato from Rs35 to 50 per kg, while the price of green peas has risen from Rs90 to 130, eggplant from Rs20 to 40 and ladyfinger from Rs45 to 60 per kg.

Pakistani Prime Minister Yousaf Raza Gilani estimated gross domestic product growth at 2.5 percent in the current financial year, 2 percentage points less than the government’s target, it is sad news.
Further, Pakistani Prime Minister Yousaf Raza Gilani said the natural disaster has destroyed 4,000 kilometers of roads and 1,000 bridges, pushing up the cost of delivering goods and services. He estimated the inflation rate to climb to between 15 percent and 20 percent.

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