National Saving collects of Rs165 billion

ISLAMABAD -The Central Directorate of National Savings (CDNS) has achieved collection net target of Rs165 billion by April, 10 of fiscal year 2019-20. The CDNS has set Rs 352 billion annual collection target for the year 2019-20 as compared to Rs 324 billion for the previous year’s 2018-19 to enhance savings and promoting saving culture in the country, senior official of CDNS told APP here on Sunday. The directorate has also revised and increased the gross target of Rs1570 billion for fiscal year 2019-20, he said. Replying to a question, he said CDNS had collected Rs 410 billion by June 30, exceeding the target of Rs 324 billion set for the year while during the preceding year of 2017-18, CDNS collected Rs155 billion. The total savings held by the CDNS stood at Rs 1,150 billion by June 30 while the directorate had Rs 774 billion savings by the same date, a year ago, he said.

IRSA releases 108,900 cusecs water

ISLAMABAD - The Indus River System Authority (IRSA) Sunday released 108,900 cusecs water from various rim stations with inflow of 111,900 cusecs. According to the data released by IRSA, water level in the Indus River at Tarbela Dam was 1473.73 feet, which was 87.73 feet higher than its dead level 1386 feet. Water inflow and outflow in the dam was recorded as 25,000 cusecs each. The water level in the Jhelum River at Mangla Dam was 1194.80 feet, which was 154.80 feet higher than its dead level of 1040 feet whereas the inflow and outflow of water was recorded as 38,000 cusecs and 35,000 cusecs respectively. The release of water at Kalabagh, Taunsa and Sukkur was recorded as 46,700, 38,900 and 23,400 cusecs respectively. Similarly, from the Kabul River a total of 26,200 cusecs of water was released at Nowshera and 16,000 cusecs released from the Chenab River at Marala.

Electric fan exports increase 10.35pc

ISLAMABAD - The exports of electric fan from the country witnessed an increase of 10.35 percent during the first eight months of current financial year (2019-20) as compared to the export of corresponding period of last year. The electric fan exports during July-February (2019-20) were recorded at $15.684 million against the exports of $14.213 million during July-February (2018-19), showing a growth of 10.35 percent, according to the Pakistan Bureau of Statistics (PBS). Meanwhile, on year-on-year basis, the export of electric fans witnessed increase of 64.08 percent in February 2020 as compared to the exports of the same month of the last year.

The fan exports during February 2020 were recorded at $3.001 million against the exports of $1.829 million in February 2019.

On month-on-month basis, the fan exports grew by 36.91 percent during February 2020 when compared to the exports of $2.192 million in January 2020, the PBS data revealed. It is pertinent to mention here that the country’s merchandise trade deficit plunged by 26.45 percent during the first nine months of the current fiscal year (2019-20) as compared to the deficit of the same months of last year. During the period under review, the country’s exports registered about 2.23 per cent growth, whereas imports reduces by 14.42 per cent, according the foreign trade statistics, released by the Pakistan Bureau of Statistics (PBS).

During the period from July-March (2019-20), exports reached to $17.451 billion against the exports of $17.071 billion of the same period of last year, it added. Meanwhile, the country’s imports witnessed significant decrease of 14.42 % as these went down from $40.679 billion in first nine months of last financial year to $34.814 billion of same period of current financial year, it said.