National Savings collected Rs.111 bln till Nov 28

ISLAMABAD (APP): The Central Directorate of National Savings (CDNS) has collected Rs 111 billion as against the proportionate target of Rs 125 billion till November 28, during the current fiscal year (2015-16). An official of the CDNS informed APP here on Wednesday, the estimated target of the national savings for the year 2015-16 has been set for Rs. 302 billion. Likewise, he said during the first quarter of current fiscal year, the CDNC collected Rs. 82 billion as against the proportionate target of Rs. 66 billion. The official said the federal government has also started making adjustments in the profit rates on new saving schemes from December 01, 2015.

He said the instant revision was made in the backdrop of current market scenario and in accordance with the government's policy to provide market based competitive rate of return to the investors of National Savings.

As per notification issued by the federal government, the new rates for Special Savings Certificates, Regular Income Certificates, Defence Savings Certificates and Savings Accounts have been fixed at average 6.60 percent,7.536 percent, 8.68 percent and 4.15 percent respectively.

The official said, the profit rate of return for specialized Savings Schemes like Bahbood Savings Certificates and Pensioners' Benefit Account has also been revised and fixed at 10.56 percent in order to provide safety net to specialized segment of society, the official said.

He said the proposal to launch registered prize bonds with offering coupon as well as prize is also under consideration.

Sugar production estimated at 4.7m tons during current season

ISLAMABAD (APP): The domestic production of sugar during the current season has been estimated at 4.7 million tons besides carry-forward stock of about one million tons from the last year's production. Total domestic requirements of the sugar was estimated at 4.2 to 4.3 million tons per annum whereas it is expected that domestic stocks would further boost up during the current year. Meanwhile, sugarcane crushing has been started in Punjab as the provincial government had fixed the commodity support price at Rs. 180 per 40 kg to ensure proper rate of return to farmers for their produces, said National Sugarcane Coordinator in Ministry of National Food Security and Research, Sohail Khan here on Wednesday.

Talking to APP, he said that surplus sugar production was expected this year too despite sugarcane cultivation was decreased in lower Sindh areas.

The main reason behind declining crop in Sindh province was failure of the provincial government in implementation of official fixed price of Rs.172 per 40 kg of sugarnce during last year's crop season.

The exploitation of farmers by the millers had discouraged the farmers to cultivate the sugarcane crop in the Sindh and growers of nearby areas of Punjab had forced the farmers to sell their crop to sugar mills in Punjab as it was offering good price for their produces, he added.

He said, till now, sugarcane crushing has not started in Sindh province as the millers were reluctant to purchase the sugarcane.

However, the situation, he said, has been compensated by Punjab and overall production was not considerably receded as targeted area for sugarcane production was achieved.

He said, sugarcane production was estimated at 62.5 million tons as compared to set targets of 63 million tons for the current crop sowing season to fulfill the domestic requirements as well as for the export.

Sohail Khan said, crushing has been started in Punjab as about 46 sugar mills were operating in the province adding, the Chief Minister of Punjab has also directed the provincial food department to ensure the implementation of official fixed rates of the crop.

He said, the Ministry of National Food Security and Research as a recommendatory body has suggested the government to lift ban from the export of surplus sugar and let the industry to create place in international market.

He said, the exportable surplus would enable the local millers to ensure the timely payments of growers besides discharging the cartels developed by the exporters of other countries in international market.

He said, due to high input prices including fertilizers, pesticides, electricity, transportation and margin of dealers, the cost of production of local industry was higher then the other countries and which was unable to compete with them.

In order to address such issues and minimizing the cost of production, the government has taken several steps and provided subsidies to growers on crops besides providing subsidies on fertilizers and pesticides.

President for exploiting trade potential with Brazil

ISLAMABAD (APP): President Mamnoon Hussain on Wednesday said the relations between Pakistan and Brazil are marked by cordiality and there is a considerable potential to boost trade between the two countries. Talking to ambassador-designate of Pakistan to Brazil, S M Burhanul Islam, here, the President underscored the need to translate the existing goodwill in building solid trade and commercial ties. The President advised the envoy-designate to focus on increasing Pakistan's exports to Brazil and attracting Brazilian investment for joint ventures. The President said that the completion of CPEC would open up immense business and trade opportunities not only in China and Pakistan but the entire region and the whole of ME.

He suggested that Brazil can enter into joint ventures with Pakistan for exporting their products to the emerging huge market. The President congratulated the ambassador-designate on his new assignment and hoped that his appointment will further strengthen Pakistan's multifaceted relations with Brazil.

Pakistan can achieve highest solar power potential by 2050: Study

ISLAMABAD (APP): Pakistan has a potential of producing 92 per cent of its electricity requirements through solar energy at a rate that's amongst the highest in the world. The country can achieve highest solar power potential by 2050 as it has the potential for producing 4.8 percent electricity via wind power and 2.9 percent using hydroelectric energy. A group of studies from the MIT, the Atmosphere/Energy Programme at Stanford University and University of California have brought a detailed plan and concluded that a renewable energy powered world is indeed a possibility by 2050.

The teams made an interactive global map which shows the projected energy mix on each of the analysed countries.

The map lists the potential that Pakistan has and what sort of benefits the population can reap if the country follows their projected plans.

The study reports that Pakistan has a potential of producing 92 percent of its electricity requirements via solar energy, at a rate that's amongst the highest in the world. Around 58.1 percent of that electricity can be produced by solar plants and 15 percent via Concentrated Solar Plants (CSP).

Regarding advantages for Pakistan, the study claims this plan will produce 291,110 long-term (over 40 years) jobs in construction sector and 239,989 long-term jobs in operations division.

The health costs will be reduced which will be about 21% of the whole GDP in 2050. The plan will pay for itself in just one year from air pollution and climate cost savings. Air pollution will be reduced by 14 times. The money aspect will be another positive prospect as the electricity will cost two-thirds of what it would if the electric production continues according to the current estimates. The government will save $3,469 per person via energy, health and climate costs per person.

The Information Technology (IT) companies like Apple and Google have been making strides towards ensuring that all their operations are powered by renewable energy or have a minimal ill effect on the world's atmosphere, these are only a couple of companies.

There are millions of businesses around the world and billions of people directly causing the global warming effect. It is clear that everyone needs to play their part in improving the environment.

The study by MIT research team suggests that the current solar technology is capable of getting us there if implemented appropriately. Stanford University and the University of California have analysed the roadmaps of a total of 139 countries to estimate amount of energy these countries would require in the future.

The teams working on it then compared the potential that these countries have for producing renewable energy from wind power, solar power and hydroelectric power sources.

After comparing both, the renewable energy potential and the estimated power requirement of these countries, they found that it is indeed possible to fulfil global power requirements via renewable power sources.

All set for 12th Saarc

trade fair, WEXNET

LAHORE (Staff Reporter): This year Trade Development Authority of Pakistan (TDAP) is organizing two mega events under one roof at EXPO Centre, Lahore from 4-6 December 2015. These events are 12th SAARC trade Fair and 9th WEXNET. More than 400 exhibitors are participating in both exhibitions. That makes it the largest event of the year. 12th SAARC Trade Fair is one of the prestigious events in South Asia to promote regional trade within the SAARC countries, thus creating business and a good rapport among SAARC nations. The platform of SAARC Trade Fair provides opportunity to showcase the finest collection of member country’s export merchandise and services along with cultural beauty.

Exhibitors from member countries are invited not only to promote their product potential but also to avail the opportunity of trade promotion and cultural exchange among themselves.

This is the third SAARC trade exhibition to be hosted by Pakistan and first of its kind in Lahore. Exhibitors from SAARC member countries will exhibit garments, jewellery, shoes, beauty care items etc. in this exhibition. More than 50 exhibitors from SAARC Countries are participating in their respective country pavilions during the event. The huge success of the event goes to the credit of all relevant stakeholders including proactive approach of TDAP. Federal Minister of Commerce Khurram Dastigar will inaugurate the event. Apart from that TDAP has invited heads of all TPOs to visit the fair. Indira Malawatee, Chairperson of EDB Srilamka will be there to see possibility of business activity with Pakistan. TDAP has also invited Arjun Badahur Thppa , Secretary General of SAARC Secretariat, Nepal to grace the occasion .

SAARC Trade Fair will help improve trade relations between the SAARC member countries. This platform will boost intra SAARC trade and will extend opportunities to buyers and sellers to understand and preview each other products in a broader prospect. SAARC countries are low and middle income rated developing countries while their economies share many similarities related to their geographic locations along with many common aspects of their cultural, historical and socio-economic advancements.

First SAARC trade Fair was held at New Delhi in between 9-14 January 1996. Second SAARC trade Fair was held at Colombo 8-15 September 1998. Third SAARC trade Fair was held at Karachi 21-26 April 2001. Fourth SAARC trade Fair was held at Kathmandu 25-29 October 2002. Fifth SAARC trade Fair was held at Dhaka 27-31 December 2003. Sixth SAARC trade Fair was held at New Delhi 6-10 January 2010. Seventh SAARC trade Fair was held at Karachi 16-18 June 2006. Eighth SAARC trade Fair was held at Colombo 28-31 August 2008. Ninth SAARC trade Fair was held at Thimphu 11-14 September 2009. Tenth SAARC trade Fair was held at Kathmandu 15-19 December 2010. Eleventh SAARC trade Fair was held at Dhaka 30 March -01 April 2012.

WEXNET is the largest exhibition of Pakistan for women entrepreneurs organized by Trade Development Authority of Pakistan. Women entrepreneurs sell their products in leading market of Pakistan i.e. Lahore or Karachi. There is no other place where one can find kachatanka of Multan, Kashmiri shawl, Gilgit-Baltistan’s Gems and stones, Quetta’s unique embroidery, Sindhi Ajrak, Sialkot’s Leather products, Bahawalpur’s embroidery, Lahori fabric and food and much more. The significant factor of this mega event is that a buyer can find fine qualities products with multiple range of prices and able to find products according to his/her budget.

TDAP created brand of WEXNET in 2001 to promote commercial activities of WEs (women entrepreneurs). WEXNET is a formalized structure which provides women with the opportunities to exhibit their products, network with each other, learns from others’ experiences and form collaborations and partnerships for mutual benefits. It is recognized as the only national exhibition for women entrepreneurs in Pakistan.