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July 2009

Pakistan Government plans to generate Rs240bn via National Saving Schemes

Rate cut would apply to new investors only.

Existing investors would not be affected by the reduction.
 By Mehtab Haider

ISLAMABAD: The government plans to generate Rs240 billion through the National Savings Schemes (NSS) in the new fiscal year 2009-10 and automate 44 of the busiest centres of Central Directorate of National Savings (CDNS) by allocating Rs68 million.

The fiscal deficit target of 4.9 per cent of gross domestic product, equivalent to Rs722.5 billion, depends on resource inflow through domestic and external sources and the NSS, which is targeted to generate Rs240 billion.Read More »Pakistan Government plans to generate Rs240bn via National Saving Schemes

7,000 Pakistani villages to be electrified through solar energy

The government has set a target to electrify 7,000 villages, which cannot be electrified by grid, through solar energy in the next five years, says Federal Minister for Water and Power Raja Pervaiz Ashrraf.

He was addressing the representatives of more than 120 countries in the second session of the preparatory commission of IRENA, held in resort city of Sharm el-Sheikh, says a message received from Cairo and released by the Ministry of Water and Power.
Read More »7,000 Pakistani villages to be electrified through solar energy

Pakistan National Saving Certificates profits curtailed-1-July-09

The federal government has reduced the rates of profit on ‘National Savings Schemes’ effective on investment received on or after July 1st, 2009. As per the press release, issued by the Central Directorate of National Savings, the rates of profit on Special Savings Certificates (Registered)/Accounts, Regular Income Certificates, Bahbood Savings Certificates/ Pensioner’s Benefit Accounts and Savings Accounts have been cut to 11.67%, 12.00%, 14.16%, and 8.50% per annum respectively. The rate of profit on Defence Savings Certificates i.e. 12.15 per cent pa and the value & number of prizes on prize bonds remain unchanged. Read More »Pakistan National Saving Certificates profits curtailed-1-July-09