KARACHI (Reuters) - The worst floods in decades could knock down Pakistans economic growth for fiscal 2010/11 to between zero and two per cent, Pakistani officials said on Monday, fuelling concern about the countrys stability. The Asian Development Bank, assessing flood damage and Pakistans needs along with the World Bank, said last week economic growth could be three per cent. The Finance Ministry said the country would miss this years 4.5 gross domestic product growth target, but did not give another figure. Sakib Sherani, a senior adviser to the Finance Ministry, said there was a whole range of growth estimates which would be revised once the actual impact of the floods became clear. We think zero per cent is the lower bound of these estimates, Sherani told Reuters, adding that this was his own estimate, and not an official figure from the finance ministry. The economy grew 4.1pc last year. He said the zero growth estimate was based on the economic impact of the damage caused to key crops and livestock, adding an estimated 25pc of the cotton crop has been affected. The textile industry, which accounts for more than 50pc of total exports, depends on the cotton crop. Reconstruction is likely to cost billions of dollars, burdening an economy that was already fragile before the waters raged from the northwest to the south, destroying villages and key infrastructure and making more than 4m homeless. Sherani said inflation could reach as high as 25pc, compared with the 2010/11 target of 9.5pc. Higher costs and food shortages could enrage people who had lost everything in the floods and who are already angry with their government for its slow response to the disaster. Sherani said lower commodity prices could prevent prices from spiking up. We will have to import essential items and if international commodity prices go down, then inflation at 25pc will be less probable, he said. The Pakistan Planning Commissions forecast was not as grim. I agree the growth will come down but at the same time, the zero per cent is cruel, it will be one to two per cent, said Nadeem ul Haque, Deputy Chairman of the Commission, which formulates and monitors implementation of development projects. There will be a negative impact but when reconstruction starts in November or December and people go back to their lands and restart farming, there will be a positive impact.