Home »Stocks and Bonds » Pakistan » Quake caused Rs 1 billion losses in NWFP SME sector

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  • Nov 8th, 2005
  • Comments Off on Quake caused Rs 1 billion losses in NWFP SME sector
The earthquake of October 8 destroyed business facilities belonging to small and medium entrepreneurs to the tune of Rs 1 billion in the three quake-hit districts of Hazara division, according to a survey conducted by Small and Medium Enterprises Development Authority (Smeda).

The earthquake tremors caused large cracks in the commercial buildings, plazas/shops and residential buildings were also badly damaged. The superstore like Chen One, Best Western Hotel, electric stores, Picic Bank have been completely demolished with estimated losses of Rs 110 million.

In district Mansehra, livestock and fisheries sectors suffered big losses as poultry farms and cattle herds were badly affected.

Although there was no big industrial project but a small industrial estate had been set up on an area of 20 acres at a cost of Rs 6.177 million, in which 25 units were manufacturing soap, furniture, ice, flour and plastic shoes etc, which suffered badly.

In Balakot tehsil of district Mansehra the quake completely destroyed the markets, bazaars and livestock. About 1500 shops comprising workshops, tailor shops, hardware stores, medical stores, PCOs, tandoor shops, flour machines, vegetable shops, electric stores, paint shops, boot shops, godowns, bakeries and garages were completely destroyed.

The city was the most catching point for tourists, and tourism was the main source of income. It had 20 hotels including a PTDC Motel whereas now there is no hotel. The losses are estimated at Rs 200 million.

In Battal, in district Battagram, 40 percent shops, out of 250, have been completely destroyed while the remaining 60 percent were partially damaged. The estimated loss runs to Rs 11 million.

In Battagram City, the losses are estimated at Rs 1 million while the surrounding area suffered more than Rs 20 million losses.

The Smeda team could not get details of damage in Allai, Thakot, Khaghan and Naran valleys as the access roads were blocked due to landslides. Allai and Thakot have sustained heavy losses and most of the infrastructure in Allai, shops, residential houses, and livestock were destroyed.

Copyright Business Recorder, 2005


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