Pakistani finance minister sees gradual recovery from floods

By PAUL WISEMAN
AP Economics Writer

WASHINGTON (AP) — Pakistan’s new finance minister estimated that it could take “close to three years’’ for the south Asian country to recover from devastating floods that killed more than 1,700 people and left nearly 8 million more homeless. Ishaq Dar, who last month took the finance post for the fourth time in his career, told The Associated Press Friday that losses from the floods were estimated to surpass $32 billion and that the cost of rebuilding damaged infrastructure will exceed $16 billion. Monsoon rains, likely made worse by climate change, hammered Pakistan for months starting in mid-June, damaging or washing away 2 million homes.