The lake now houses 4.71 million acre feet of water
against its capacity of 4.64maf. Punjab irrigation authorities plan to
take the water level to 1,206 feet, getting an additional 1maf.
The Tarbela lake also was approaching its optimum
level of 1,550 feet as inflows of the Indus River were improving. On
Thursday, water inflows maintained a flow of 334,100 cusecs for the
fourth day. The lake level was 1,523.44 feet with a storage of
5.682maf. The capacity of the lake is 7.2maf.
The river flow in the country also registered
improvement with total supplies shooting up to 558,580 cusecs; some
432,380 cusecs were released for irrigation and 126,200 cusecs were
stored at the dams.
The Indus River System Authority has decided to
fill the lake only by three feet a day keeping in view dam safety.
Though, according to a hydrologist at the Water and Powers Development
Authority's water wing: "Even three feet a day could put some
extra pressure on the dam. Once the lake touches 1,508 feet level, it
should not be filled by more than two feet a day. It is a vital
precaution, given the seismically active nature of the area. The extra
risk is not worth taking."
IRSA OKAYS PLAN TO FILL TARBELA
The inflows in the country's rivers reached the level
of 482,000 cusecs on Tuesday — highest in the last three years —
with Mangla dam attaining the height of 1200 feet, only two feet below
the maximum level.
A meeting of the Indus River System Authority held on
Tuesday noted with satisfaction that the rivers flow had significantly
improved over the past few days. The authority gave a green signal to
the Water and Power Development Authority to go ahead with its plan of
filling Tarbela Dam.
POVERTY ROSE DURING LAST DECADE
About 47 million people are living below poverty line
in Pakistan, with more than 12 million were added to the rank of the
poor between 1993 and 1999, says an Asian Development Bank report
released on Monday.
The report "Poverty in Pakistan: Issues, Causes
and Institutional Responses," was released at a press conference by
ADB's Country Director Marshuk Ali Shah and bank's Principal Economic
Adviser Naveed Hamid.
The report said during the period from 1993 to 1999
the level of poverty worsened from 26 per cent of the population falling
below the poverty line in 1993 to 32 per cent in 1999.
AGOSTA READY FOR TRIALS
Pakistan's second Agosta 90-B class submarine is
ready for launching and six months of sea trials, a navy spokesman told
The submarine is equipped with four bow torpedo tubes
and missiles, with its fighting capacity coordinated by the French-made
Submarine Tactical Integrated Combat System (STICS).
"It is ready for launching. We have not decided
the final date, but in all probability it will be launched by the third
week of August," he said.
MOVE TO ELIMINATE GINNERS ROLE
In a new drawn up strategy, the rich textile mill
owners of central Punjab and the politically powerful growers of cotton
belt in Sindh and south Punjab are planning to join hands to eliminate
the role of ginners.
All Pakistan Textile Mills Association (Aptma) is
proposing the concept of 'Custom Ginning'. This system reduces the role
of ginnery to a mere service provider as the textile mill owner will
purchase cotton directly from the grower.
Under this strategy, the number of ginneries is
proposed to be drastically cut down from the existing 1,220 in the
country. At present there is more than 20 million bales ginning capacity
available in the country. "We want to bring it down to 10 to 11
million bales ginning capacity," a senior official involved in the
planning of cotton policy informed.
The government will provide more incentives to the
automobile industry so that it could play a prominent role in the
This was stated by Commerce Minister Abdul Razak
Dawood while chairing a meeting on automobile on Thursday, said an
official announcement. The meeting was attended among others by
stakeholders of automobile sector.
DEMAND FOR LOCAL GOODS TO INCREASE
The consumer financing will increase the demand of
locally produced items but it is hard to predict any specific percentage
at this moment, Habib Bank president Zakir Mehmood told.
"The main aim of the new scheme is to boost the
domestic industry," he said referring to the example of car demand
and sales, which boosted due to banks' attractive financing scheme.
"Consumer durable items demand and sales will
not go up overnight. The market of these items will increase
progressively. Consumer financing is meant for long term purpose,"
the HBL chief said.
COTTON PRICES RAISED BY RS50
After having risen sharply higher during the last
couple of sessions, cotton prices on Monday took a technical pause as
spinners remained busy to take part in TCP tender for both local and
"At Rs2,300 per maund, the market seems to have
taken a breather", says a leading broker "whether to go up or
sustain the current seasonal peak level is now appears to be its chief