Sugar mills mafia blackmailing Govt and farmers : PEW

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The Pakistan Economy Watch (PEW) has demanded stern action against sugar mills mafia which is blackmailing the Government, hurting consumers and crushing farmers.
Sugar mills have stopped the supply of the commodity in Karachi and some other places to force the government to increase the export subsidy to make extra money, it said.
The prices of sugar have artificially been hiked benefiting the mafia controlling the supply of the product in the country on the cost of masses, said Dr. Murtaza Mughal, President PEW.
He said that why politicians and other influential are allowed to set up sugar mills if the national production is already surplus and costly enough to be exported.

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Pakistan one of the top milk producer in the world: PEW

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Supporting dairy sector will help millions
The Pakistan Economy Watch (PEW) on Sunday said the dairy sector has great potential which can be exploited with the support of the government.
With milk production of 56 crore tonnes, Pakistan is the fifth largest producer of milk in the world while it is among top three producers in the Asia-Pacific region, it said.
Milk production can be increased from seven to eight times with little efforts which will boost exports and reduce its price providing relief to masses, said Dr. Murtaza Mughal, President PEW.
Production of milk per animal is seven to eight times lower than the developed nation which can be improved by using modern methods, he added.

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Energy shortfall still a threat to the economy: PEW

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The Pakistan Economy Watch (PEW) on Friday said energy situation has improved but its scarcity is still a threat to the economy.
The government is too much focused on new energy projects while it should also promote efficient use of electricity, it said.
Losses due to load-shedding is still eating up a sizable share of the GDP as average power shortfall remains 4000 megawatt while average gas shortfall is at 2000 cubic feet translating into losses of Rs 15 billion per annum, said Dr. Murtaza Mughal, President PEW.
Weaknesses in the transmission and distribution system have resulted in the losses of Rs 250 billion within last seven years as domestic demand continue to increase by 10 percent annually.

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PEC, LNG project achievements of the Govt: PEW

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The Pakistan Economy Watch (PEW) on Tuesday said the Economic Corridor and the LNG project are great achievements of the government which will transform the economy.
Chinese investment in Pakistan can surpass one trillion dollars if government and masses ensure smooth flow of things, it said.
LNG project has reduced the energy scarcity while the CPEC will help Pakistan increase its income and influence to reduce poverty, said Dr. Murtaza Mughal, President PEW.
He said that China should motivate its private sector to invest in industrial projects across Pakistan particularly in the underdeveloped areas but for this, our government will have to ensure peace and dependable energy supplies.
Both the projects will have a direct impact on the lives of the general public and national economy, he said, adding that Pakistan has become the centre of attraction for international investors because of the CPEC.

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CPEC to energise dysfunctional department of railways: PEW

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Railway role systematically reduced to benefit private sector
The Pakistan Economy Watch (PEW) on Thursday said the role of the railway was systematically reduced to benefit some of the influential transporters which damaged the economy and inflicted losses on the masses.
Transporters are making good profits by ferrying passengers and trade goods but it has resulted in high cost of doing business which is against the national interests, it said.
The railway infrastructure is being improved to cater for the needs of CPEC which will reduce the cost of doing business, increase the competitiveness of businesses and cut annual oil import bill by almost 1.5 billion dollars, said Dr. Murtaza Mughal, President PEW.

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Pace on work on CPEC should not be compromised: PEW

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Reservations of business community on CPEC proved baseless
The Pakistan Economy Watch (PEW) on Sunday asked the government to not allow anyone to slow the pace of development of the economic corridor.
It asked for an action against the elements trying to damage economic corridor for political gains amid uncertainty.
The economic corridor is a game changer project which must be completed according to the schedule frustrating local and foreign players that are against it, said Dr. Murtaza Mughal, President PEW.
He said that any issue hindering the development of this project will be a great loss, therefore, all steps should be taken to ensure timely completion of the CPEC.
Dr. Murtaza Mughal said that many powerhouses are bring completed under CPEC for which government has not taken any loans while NEPRA has not given them any special concession for tariff etc.

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Steps demanded to match rising demand for internet: PEW

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Country should not depend on few countries for internet
The Pakistan Economy Watch (PEW) on Tuesday said the demand for internet is more than its supply resulting in shortage while disruption in the service has become a permanent feature which is resulting in heavy losses.
Telecom companies, call centres and high-tech business are facing heavy losses due to frequent disruption while masses are also facing problems, it said.
The internet service providers should not rely on three sources as usual and try to get new companies involved so that people can get internet if one or two sources are disrupted for few days, said Dr. Murtaza Mughal, President PEW.
Increased demand for the internet is due to the interest of masses in the smartphones all of which are internet enabled, he said, adding that disruptions are very damaging for the businesses, he added.

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Call to protect flourishing poultry industry: PEW

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The Pakistan Economy Watch (PEW) on Sunday said vibrant poultry industry should not be burdened with additional taxes to that it can progress.
The Rs700 billion industry should be facilitated, taxes and duties on imports should be reduced and refunds should be paid to it which will result in the creation of jobs, increased revenue and foreign exchange earnings, it said.
These steps will bring prices of poultry products down which will help masses to overcome the deficiency of animal protein, reduce health and food security problems, said Dr. Murtaza Mughal, President PEW.
He said that unabated smuggling has already increased the price of beef while masses cannot afford to eat mutton leaving them with only option to consume poultry products as consumption of fish in Pakistan is two kg per capita that is lowest in the world.

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Steps demanded for rapid agricultural development: PEW

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The Pakistan Economy Watch (PEW) on Thursday demanded steps for rapid agricultural development as the majority of the population is linked to this sector.
Around eighty percent exports of the country are linked to agriculture while dozens of industries are also tied to this sector, it said.
The prosperity of the farming communities is linked to the development of agriculture sector which merits full attention, said Dr. Murtaza Mughal, President PEW.
He said that the agricultural production has not jumped despite packages announced by different governments because such incentives are designed to benefit the landed elite and not the poor farmer.

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Call to promote cottage industry, technical education: PEW

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The Pakistan Economy Watch (PEW) on Saturday asked the government to promote cottage industry and technical education for rapid national development.
Empowerment of women, promotion of cottage industry and attention on technical education to increase skilled manpower can reduce poverty and bailout country from the economic problems, it said.
Cottage industry, small businesses and women entrepreneurs should be given more attention to ensure rapid development, said Dr. Murtaza Mughal, President PEW.
He said that a cluster for cottage industry must be established on CPEC after every five hundred kilometers that include a technical training institute to boost the economy.
He said that over ninety-six percent businesses fall into the category of cottage industry and small businesses but this sector is neglected.

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Measures demanded to boost economy: PEW

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Govt asked to initiate negotiations with IMF
The Pakistan Economy Watch (PEW) on Tuesday asked the government to take note of worsening economic situation and take remedial steps without any delay.
The current economic situation has emerged as the greatest threat to the limping economy which needs immediate attention of the top government officials, it said.
The government should immediately start negotiations to enter into a fresh IMF programme otherwise total economic collapse cannot be avoided, said Dr. Murtaza Mughal, President PEW.
He said that exports are falling, imports continue to grow despite efforts, internal and external investments have dried up, capital is flying out of the country and economy is nose-diving which has raised concerns.
Dr. Murtaza Mughal said that negotiations with lending agencies should not be delayed as our economic situation will become weaker by the passage of time which will compromise bargaining power of Pakistan.

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PM asked to implement last year’s export package: PEW

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Export of raw material damaging economy, pleasing nobility
The Pakistan Economy Watch (PEW) on Saturday asked the Prime Minister Shahid Khaqan Abbasi to implement the Rs180 billion export package announced last year by the former PM Nawaz Sharif.
It asked the government to support the textile sector which is the largest foreign exchange earner and second largest employment provider after agriculture.
The export sector, especially the textile sector is the backbone of the economy which deserves the full attention of the government as it is going down since three years, said Dr. Murtaza Mughal, President PEW.
The textile sector including the sub-sector of value-added textile is providing employment to millions, it has the largest share in exports but it is neglected, he added.
Dr. Murtaza Mughal said that energy crisis, non-payment of refund claims, increasing input and energy costs and unbearable burden of taxes has increased the cost of doing business which has resulted in a significant fall in exports.

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Govt should arrest fall in workers remittances: PEW

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The Pakistan Economy Watch (PEW) on Thursday said the government should take steps to contain further contraction in the critical sector of workers remittances which is as important as exports.
Remittances have fallen by four percent in the last year, therefore, steps are needed to arrest the trend in the national interest, it said.
Concerned ministry, departments and law enforcing agencies should not discourage people involved in sending labour abroad as they are playing important role in keeping forex reserves stable, said Dr. Murtaza Mughal, President PEW.
He said that Private sector has to invest around fifteen billion dollars as input costs to realise exports of twenty billion dollars but expats spend their own money to go abroad send money without any involvement of the government.

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Former PM, his team damaged economy beyond repair: PEW

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Record loans of $35 billion were taken in a few years
Profitable entities were gifted to friends at dirt cheap price

The Pakistan Economy Watch (PEW) on Monday said former Prime Minister Nawaz Sharif and his economic managers damaged the national economy beyond repair.
They raised attractive slogans of rapid national development, but left the country under the severe debt burden while their own assets multiplied with an amazing speed, it said.
Now the economy can survive only with the help of IMF otherwise the country will face default in the ongoing fiscal, said Senior Vice President of PEW Kashif Iqbal.
He said that Nawaz administration took loans worth 35 billion dollars, which haven’t helped the economy or masses, but helped the finance minister to multiply his fortunes while many other politicians also plundered the national resources.

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Exports should be enhanced to make economy stable: PEW

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All the trade deals should be aligned to national interests
The Pakistan Economy Watch (PEW) only way to end dependence over IMF and pave way for national development is to improve the external sector.
Pakistan can never be a prosperous country unless its exports and more than the imports for which concrete steps are needed, it said.
The government should facilitate export sector while review all the free trade and preferential trade agreements, said Dr. Murtaza Mughal, President PEW.
He said that FTA with China is the single most damaging deal finalized by the government as interests of the country were compromised to benefit the business community of the friendly country.

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Banks shouldn’t ignore small businesses, farmers: PEW

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The Pakistan Economy Watch (PEW) on Sunday asked the banks not to ignore small businesses and small farmers which are central to the national development.
It asked the commercial banks to facilitate SME sector and farmers with small holdings so that they can enhance their business which will move the slow process of growth.
Farming and SME sectors are best suited to reduce unemployment by providing jobs but some policies are hindering their growth which must be discarded, said Dr. Murtaza Mughal, President PEW.
He said that small and medium sized businesses and small farmers should be supported on the policy level and given preference in the provision of credit by the commercial banks.
Dr. Murtaza Mughal said that uninterrupted flow of finances are important for survival and expansion of these critical without which economy cannot be revived.

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PM asked to move the stalled privatization process: PEW

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The Pakistan Economy Watch (PEW) on Wednesday asked the Prime Minister Shahid Khaqan Abbasi to move forward the stalled privatization process.
The bleeding state-run enterprises are wasting hundreds of billions of rupees annually which can be saved be selling these corporations, it said.
Former prime minister Nawaz Sharif promised to sell loss-making enterprises but he preferred to sell some profitable concerns which raised many eyebrows, said Dr. Murtaza Mughal, President PEW.
He said that at this juncture our country cannot afford the luxury of wasting over Rs500 billion annually on inefficient state-run-enterprises.
The money raised through the disposal of the infected assets can be used on welfare projects which are seeing cuts since years, he added.

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Govt asked to contain fall in forex reserves, exchange rate: PEW

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Foreign reserves are depleting at an accelerated speed
The Pakistan Economy Watch (PEW) on Sunday asked the government to stem fall in forex reserves and exchange rate.
Fall in value of rupee against US dollar and falling reserves that are now around 14 billion dollars, has raised concerns among the masses and the business community, it said.
Serious efforts should be made to save hard-earned gains achieved by the county after taking tough actions under the last International Monetary Fund (IMF) loan program, said Dr. Murtaza Mughal, President PEW.
An immediate action is required otherwise the situation might go out of control exactly at a time of general elections next year with no other option but to seek another bailout package from the IMF, he added.
Dr. Murtaza Mughal said that the value of rupee has nothing to do with the export competitiveness and erosion in the exchange rate has a very little and temporary impact on the exports.

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Government avoided economic reforms for years: PEW

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Bold decisions unlikely in the election year
The Pakistan Economy Watch (PEW) on Tuesday blamed that PML-N led government for avoiding meaningful economic reforms for many years which has resulted in a difficult situation.
The former Prime Minister Nawaz Sharif avoided reforms despite the insistence of experts and foreign institutions while the current administration cannot afford difficult decision due to the election year, it said.
Increasing imports, reduced exports, swelling current account deficit and absence of foreign investment has added to the deficit which has touched alarming proportions, said Dr. Murtaza Mughal, President PEW.

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Sugar mills mafia blackmailing Govt, masses and farmers: PEW

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Sugar crisis bring created to mint money
Govt asked to take strict action against profiteers
The Pakistan Economy Watch (PEW) on Tuesday demanded stern action against sugar mills mafia which is blackmailing the Government, consumers and farmers.
Sugar mills have stopped the supply of the commodity in Karachi and some other places to force government for export subsidy and make extra money.
This has resulted in the prices of sugar to rise in the market which is benefiting the mafia controlling the supply of the product in the country, said Dr. Murtaza Mughal, President PEW.
The same mafia has stopped payment to sugarcane farmers in different areas of the country making life difficult for them, he added.

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Circular debt become a threat to the economy: PEW

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Islamabad Chamber of Small Traders on Sunday asked the government to resolve the circular debt which has swelled to Rs800 billion posing serious threat to the economy.
Currently, the government is focusing on LNG which is cheaper than the hydel power but open to fluctuation in the international market, said Patron Islamabad Chamber of Small Traders Shahid Rasheed Butt.
He said that government should pay proper attention to the hydel power projects that generate cheap electricity and it is immune from external shocks.
Shahid Rasheed Butt said that power plants using imported fuel generate costly electricity while fluctuations in the oil prices result in miseries of the masses.

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CDA should refrain from harassing the business community: PEW

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CDA harassing local and foreign investors
The Pakistan Economy Watch (PEW) on Friday asked the CDA to refrain from harassing the business community of the Capital city on false pretexts.
CDA officials have planned to mint money from the business community by blackmailing them which should be noticed, it said.
The department has issued notices to hundreds of owners of commercial properties to make verandas in their buildings otherwise CDA will demolish the buildings and recover the cost from the owners of the properties which is illegal, said Dr. Murtaza Mughal, President PEW.
He said that hundreds of local and multinational companies are operating in buildings which are without verandas as its construction is not mandatory.

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PEW asks FPCCI president to resign immediately

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Arrest on charges of tax evasion to damage image of FPCCI, country
The Pakistan Economy Watch (PEW) on Thursday asked the president FPCCI to immediately resign from his post as he can be arrested any time which will damage the image of FPCCI and the country.
Nab has filed a reference against President FPCCI Zubair Tufail, his son, brother and others for evading tax and the accused can be arrested anytime, it said.
SM Muneer, the leader of United Business Group should not prefer to support his blue-eyed over the interests of the country, said Kashid Ibbal Gondal, SVP, PEW.

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Call to encourage agricultural sector: PEW

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The Pakistan Economy Watch (PEW) on Tuesday called upon the authorities to promote agriculture and livestock sectors to life rural communities out of poverty.
The agricultural sector is considered the backbone of the economy which is largest employment provider while eighty percent of exports are linked to it but it is not getting due attention, it said.
Modern methods are being ignored while inputs are being increased to boost production which is increasing the cost of doing business while continued neglect has reduced share of agriculture on the GDP, said Dr. Murtaza Mughal, President PEW.
He said that it is next to impossible to ensure national development while keeping agricultural development on the back burner which is the mainstay of the economy.

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Promoting handicrafts can lift millions out of poverty: PEW

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The Pakistan Economy Watch (PEW) on Sunday called upon the authorities to support the ignored sector of handicrafts which can help lift millions out of poverty.
Pakistan can generate handsome amount of foreign exchange by promoting handicraft sector which is mainly concentrated in the province of Sindh however other provinces cannot be ignored, it said.
The government can promote this sector while private sector should invest in the handicrafts industry and turn it into a lucrative and profitable sector, said Dr. Murtaza Mughal, President PEW.
He said that there is a great demand for locally made handicrafts in the international market, therefore, this sector should be promoted which is directly linked with the skilled women.

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Education no more an attractive profession for teachers: PEW

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Low-quality teachers a threat to society, economy
The Pakistan Economy Watch (PEW) on Sunday said education is no longer an attractive profession for teachers which is a threat to the country.
Teachers suffer from general lack of respect and bad questionable working conditions which has forced many to opt for other profession resulting in increased gap in demand and supply which is a threat to country’s future, it said.
The state-run education has become dysfunctional while private institutions continue to exploit teachers more profit, said Dr. Murtaza Mughal, President PEW.
Contrary to the business world the education and academic workforce enjoy very limited opportunities with no chance of changes on the horizon, he added.

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IMF has added to the miseries of the third world: PEW

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IMF has always helped corrupt to hide stolen funds
The Pakistan Economy Watch (PEW) on Sunday said IMF has added to the miseries of the third world and helped transfer their wealth to the west.
The policies of the international lending institutions are not short of financial terrorism pushing developing countries to bankruptcy to achieve unholy designs of the western nations, it said.
Many countries are reeling under pressure despite getting billions of dollars in loans while some have been bankrupted due to negative policies of the lending institutions that prefer objectives of the US and some European countries over everything, said Dr. Murtaza Mughal, President PEW.

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Importance of Corporate Social Responsibility

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Claims of economic development questioned

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Karachi Traders Alliance on Tuesday questioned claims of the government regarding economic development terming it an eyewash.

Production, exports, exchange rate and production continue to fall while the country is progressing in slogans, crimes, uncertainty and acquiring loans, said Ayaz Memon Motiwala, Chairman of Karachi Traders Alliance.
He said that reports of State Bank of Pakistan regarding economy are not based on facts but a deception which is against professional ethics.
Talking to Dr. Murtaza Mughal, President Pakistan Economy Watch, he said that trade deficit for the current fiscal will swell to 33 billion dollars while foreign exchange reserves are down by three billion dollars.
Mr. Motiwala said that reasons behind record trade deficit include falling exports, increased imports, want of enabling laws and energy crisis.

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Weakness of agriculture policies highlighted: PEW

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The Pakistan Economy Watch (PEW) on Sunday said the country is spending billions of dollars on the import of agricultural products which indicate the want of enabling policies.
Pakistan can save billions of dollars annually by encouraging domestic agricultural sector which is in a shamble, it said.
We are spending over two billion dollars on the import of edible oil only which can be saved if domestic production is promoted, said Dr. Murtaza Mughal, President PEW.
Over two million tonnes of annual edible oil imports costs around $ 2.4 billion making it second largest import after petroleum products, he added.
Dr. Murtaza Mughal said that that proper farming, production, processing and marketing will not only reduce dependence on imports but also help earn foreign exchange.
He said that despite being an agrarian economy we are unable to produce sufficient edible oil which leads us to spend a substantial amount of foreign exchange at a time when country badly needs it.

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Government not interested in economic revival: PEW

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PEW fears economic meltdown as trade deficit widens
The Pakistan Economy Watch (PEW) on Wednesday said that government seems uninterested in the economic revival as it has focused all its attention on the politics since it came to power.
Government continue to avoid reforms and unpopular decisions since years and it is unlikely that it will do something in the election year, it said.
Government and opposition are not concerned with the economic revival, they are pushing their own agenda which is leading country towards a default, said Dr. Murtaza Mughal, President PEW.
He said that the trade deficit in the first eleven months has surpassed thirty billion dollars but the government has not done little to prevent the economic meltdown.
Government or other political parties have yet to suggest a concrete framework of policies to improve overall growth rate and to ensure that all regions and segments of society reap the fruits of a booming economy, he added.

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Sale of loss-making government entities demanded: PEW

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The Pakistan Economy Watch (PEW) on Sunday said that trade deficit of first eleven months of the current fiscal has reached to thirty billion dollars calling for urgent steps to reduce expenses.
The government should take some meaningful steps to reduce the deficit while the process should begin with the sale of Pakistan Steel Mills, PIA, power companies and other bleeding enterprises, it said.
Transformation of state-owned assets into the property of persons independent of the state will help government raise funds, reduce losses, cut the budget deficit, improve exchange rate and boost the ailing economy, said Dr. Murtaza Mughal, President PEW.
He said that privatization is an integral part of the on-going process of economic reforms which must be carried out very carefully to identify and remove things which are compromising national growth.

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Economic managers pushed country to the brink of default: PEW

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Budget failed to revive confidence of investors and exporters
Govt more interested in politics putting economy on the back-burner

The Pakistan Economy Watch (PEW) on Wednesday said economic managers have pushed the country to the brink of default as the export-import gap has jumped to the unprecedented 30 billion dollars.
The situation worsening by the passage of every day but the government seems to be more interested in politics, it said.
In the current economic scenario, getting loans from the banks is not sustainable as it continues to burden exchequer and it is not a substitute to the exports, said Dr. Murtaza Mughal, President PEW.
He said that budget has failed to address the concerns of important sectors as the textile, overseas investors, construction, stock exchange, corporate sector, multinationals and various chambers of commerce have rejected the budget and started protests.

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Steps demanded to ensure food security: PEW

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Problem in Pakistan is not availability of food but its price
The Pakistan Economy Watch (PEW) on Sunday demanded steps to ensure food security as the problem in Pakistan is not linked to the availability of food but its prices which are out of the reach of many.
It expressed reservations over government response to the looming food security threat as global problems have exacerbated food insecurity across the globe.
Government should increased investment to ensure food security for the whole population many of whom are finding it difficult to get adequate food, said Dr. Murtaza Mughal, President PEW.
He said that Government must launch comprehensive food security survey so that policymakers can plan on the basis of ground realities.

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China’s OBOR project bringing world closer: PEW

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Pakistan will hugely benefit from Beijing’s initiative
The Pakistan Economy Watch (PEW) on Thursday said China’s One Belt One Road (OBOR) project have so far brought 68 countries together across three continents.
Asia, Europe, Africa and Latin America are coming closer which is a very good omen for world’s peace and prosperity, it said.
Chinese are focused on Asia with Pakistan and Central Asian states getting more benefits than others countries which is not acceptable for some countries, said Dr. Murtaza Mughal, President PEW.
He said that the Silk Road has existed for thousands of years, it enriched the countries it passed through and now it is being revived.

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Builders and developers cheated Govt on tax matters: PEW

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Immediate action against builders, withdrawal of special tax demanded
The Pakistan Economy Watch (PEW) on Tuesday said the builders and developers cheated government on the issue of tax, therefore, an action should be taken against leaders of this sector.
Last year government imposed some taxes on this sector which resulted in massive protests after which the leaders of the construction industry assured the government that tax collections would be increased if their demands are accepted, it said.
Subsequently, the government accepted their demand to bring this sector into special tax regime as the builders promised to boost tax collection to 25 billion rupees, said Dr Murtaza Mughal, President PEW.

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SBP cheating masses to please government: PEW

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The Pakistan Economy Watch (PEW) on Sunday said State Bank continue to cheat masses to please the government which has dented its credibility.
It asked the State Bank of Pakistan to present true picture of the economy and refrain from issuing political statements.
The statement of the governor of central bank regarding country’s debt-servicing capacity, remittances and exports are questionable at best, said Dr. Murtaza Mughal, President PEW.
He said that confidence in the central bank is essential for the smooth functioning of the financial system therefore job of issuing rosy statements should be left to the politicians.
Dr. Murtaza Mughal said that the governor of SBP has termed fall in remittances and exports as temporary which widening deficit has been downplayed which is contrary to the ground realities.

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Chinese economic model to replace western model soon: PEW

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Globalisation has failed to improve the world
The Pakistan Economy Watch (PEW) on Sunday said the theory of globalisation has failed as more and more countries are preferring protectionism over free market economy.
Chinese economic model which is not based on exploitation will soon replace western model which is based on exploitation, it said.
The One Belt One Road Project of which CPEC is an important component is the beginning of end of western dominance, said Dr. Murtaza Mughal, President PEW.
He said that globalisation has failed to achieve objectives like eradicating poverty while it worsened the problem by throwing world into acute crisis, he added.
Dr. Murtaza Mughal said that globalization failed to increase integration and interdependence of national, regional and local economies.

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Worries expressed over growing circular debt: PEW

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The Pakistan Economy Watch (PEW) on Wednesday expressed apprehension over rising circular debt which is to compromise growth and hit masses with power outages in the summer.
Circular debt has become a big threat to the image, credit rating and economic survival of the country which merits urgent attention, it said.
Dr. Murtaza Mughal, President PEW said that circular debt is hitting industrial expansion, investment in Thar coal and other energy projects and pushing away investors.
Circular debt worth Rs414 billion has reduced power generation by private sector leaving them unable to but fuel to run power plants of repay bank loans which masses are suffering from heat.

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Food being wasted despite hunger in Pakistan: PEW

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The Pakistan Economy Watch (PEW) on Sunday said despite severe problem of food security tonnes of food is daily wasted in the country.
Government should ensure proper storage facilities and food waste management system in the country to overcome losses, it said.
Food is wasted in all the countries of the world which if saved through intervention can eradicate hunger from the globe, said Dr. Murtaza Mughal, President PEW.
He said that food grown over 1.4 billion hectares, an area larger than China, is wasted annually which also lay waste to all the investment.
He said that wastage of food also waste all efforts and around 250 cubic kilometres of water stoking global food insecurity and hunger.

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Govt should pay attention to hydel power: PEW

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Dysfunctional power sector damaging econom
yThe Pakistan Economy Watch (PEW) of Tuesday said government should pay proper attention to the hydel power projects that generate cheap electricity.
Power plants using imported fuel generate costly electricity which fluctuations in the oil prices results in miseries of the masses, it said.
The energy sector has become dysfunctional because of the apathy of the successive government since Musharraf times, said Dr. Murtaza Mughal, President PEW.
He said that energy crisis in Pakistan is result of decades of indifference and it cannot be resolved any time soon and it will continue to damage masses and the economy.
He said that dysfunctional power sector continue to deprive 35 percent of population of grid electricity while the 65 percent have been facing loadshedding.

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Falling exports can result in another IMF loan: PEW

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Currency should not be devalued to support exports
The Pakistan Economy Watch (PEW) on Sunday said exports, investment and remittances continue to fall hitting forex reserves which will result in another IMF loan.
Continued fall in exports since three years despite efforts of the government and private sector will result in lost export markets, it said.
Exports are falling while imports have gone out of control due to liberal import regime which is creating serious problems for economy, said Dr. Murtaza Mughal, President PEW.
The export officials waste time and money and later blame energy crisis to absolve themselves of all the responsibility, he added.

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Thar coal best solution to overcome energy crisis: PEW

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Differences over KBD in Indian interest
The Pakistan Economy Watch (PEW) on Monday said Thar coal is the best and cheapest solution to overcome chronic energy crisis in the country.
Difference over Kalabagh dam are against the national interests and in the interest of India that wants to destabilise Pakistan, it said.
Thar coal is the most economical solution for ensuring energy security therefore it should be exploited and Chinese involvement should be enhanced, said Dr. Murtaza Mughal, President PEW.
He said that extra attention should be paid to exploit the treasure buried in Thar as the economy continue to suffer due to power outages.
Dr. Murtaza Mughal, President PEW said that Thar cola can ensure energy security, help cut oil import bill, earn forex reserves and provide jobs to millions of unemployed.

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Unnecessary secrecy on CPEC hitting national interests: PEW

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The Pakistan Economy Watch (PEW) on Monday said unnecessary secrecy on economic corridor is against the national interests as it is harassing the business community.

Government should trust its subjects and divulge full details of the project so that local and foreign investors can participate in it, it said.

Different Chinese companies are getting massive tax breaks which while there is so much concealment in the whole affair that a governor of the central bank had to speak in public about lack of knowledge about the project, said Dr. Murtaza Mughal, President PEW.

He said that different Chinese companies have been given tax breaks for over two decades which include exemptions from income tax, sales tax, excise duty, customs duty, withholding tax etc.

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Govt asked to reform SBP, PSEs: PEW

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Central bank should autonomous
The Pakistan Economy Watch (PEW) on Sunday said government should provide autonomy to the State Bank of Pakistan (SBP) and install professional management in the bleeding Public Sector Enterprises (PSEs) to guarantee economic revival.
PSEs have not been reformed despite the promises made by the top officials of the incumbent government while the SBP’s sole focus was to ensure provision of cheap loan to the government in violation of rules which took toll on economy, it said.
The central bank continue to cheat masses about various issues including agricultural loans on which ninety percent are distributed in one province, said Dr. Murtaza Mughal, President PEW.
He said that SBP triggered inflation and crowded out private sector which contributed to unemployment as record number of businesses were closed.

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Lifting ban on gas connections questioned: PEW

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Customers not enthusiastic about imported gas
The Pakistan Economy Watch (PEW) on Thursday questioned decision of the Cabinet to lift ban on new domestic and industrial gas connections terming it a flawed decision.
The decision has raised questions about the LNG policy and the efficiency of the power sector, it said.
Government has lifted ban on new gas connections which was imposed during 2011 as the supply of imported gas has increased while demand in insignificant, said Dr. Murtaza Mughal, President PEW.
He said that as a rule governments bound customers for purchase and then import gas but in Pakistan the LNG import deal was signed before finding the customers.
The imported gas is costly therefore customers are not using it willingly and delaying paying the bills which was resulting in circular debt therefore ban was lifted.

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PM Nawaz has ensured rapid economic progress: Kuchela

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No power can defeat Pakistan on economic front
Pakistan enjoys trust of international institutions
Prime Minister Nawaz has ensured rapid economic progress in the country which was on the brink of bankruptcy three years ago, a political leader said Wednesday.
Pakistan’s economy has been stabilised due to serious efforts and now no power can defeat Pakistan on the on economic front, said Muhammad Aslam Kuchela, former MNA and member of PML-N Provincial and General Council.
Talking to Dr. Murtaza Mughal, President of the Pakistan Economy Watch, he said that many powers are against the economic corridor but it would be completed well in time which will be the beginning of a new era of peace and prosperity.
Prime Minister Nawaz Sharif has introduced policies that are being lauded by dozens of international institutions which is a great achievement, he said, adding that irrespective of inherent weaknesses our private and public sectors have made great strides.

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Govt earning undue profit on petroleum products: PEW

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Nobility should be forced to pay taxes to win war against terror
The Pakistan Economy Watch (PEW) on Sunday said unjustified taxes on fuel continue to hurt masses and economy therefore the same should be reduced.
High prices of fuel has become an incentive for smugglers who are thriving on low prices of oil and gas in Iran and Afghanistan, it said.
Border arrangements have failed to deter the smugglers as fifteen to twenty percent petrol consumed in Pakistan is said to be smuggled from neighbouring countries, said Dr. Murtaza Mughal, President PEW.
He said that smuggling of LPG continue to increase grabbing around thirty percent of the local market putting survival of local producers at stake as involvement of big fish cannot be ruled out.

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Local prices of petroleum products more than international market: PEW

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Fuel prices can be reduced if FBR start targeting nobility
The Pakistan Economy Watch (PEW) on Sunday said prices of petroleum products in the country are far more than the international market which is hurting masses and every segment of the economy.
Petroleum prices can be reduced if FBR starts taxing nobility which will automatically reduce pressure on the poor masses, it said.
Government has no other option but to heavily tax the petroleum imports which is chocking the economic growth, said Dr. Murtaza Mughal, President PEW.
He said that all the important petroleum products are attracting double digit taxation which has penalised the masses. Situation can take a positive turn if corruption is reduced in the tax administration.

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Water scarcity a big threat to Pakistan: PEW

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The Pakistan Economy Watch (PEW) on Sunday said water scarcity is emerging as a grave threat to the survival of the country but policymakers seems to be unconcerned.
Pakistan is facing an acute water shortage and may hit masses, agriculture and industry soon, it said.
In last few years the defence budget has been significantly increased to combat terrorism ignoring the fact that water scarcity could be a bigger menace than terrorism, said Dr. Murtaza Mughal, President PEW.
In a statement, he said that our country touched the “water stress line” in 1990 and crossed the “water scarcity line” in 2005 but it was not enough to draw attention of the policymakers.
Dr. Murtaza Mughal said that if steps were not taken to combat the situation country is likely to face drought-like situation in the near future.

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