Click here to View Printed Statements
Delaying Kalabagh dam is a serious crime: Dr Murtaza Mughal
Govt must act before masses question merits of a system that cannot deliver
Rehmat Khan Wardag, President Tehreek-e-Istaqlal on Sunday said plunderers of national wealth should not be spared so that no opportunist can follow their suit in future.
The corrupt cabal that ruled country for five years brought economy to its knees and made life impossible for majority deserves no mercy, he said.
Talking to Dr Murtaza Mughal, President of the Pakistan Economy Watch, he said that masses have voted out incompetent political band known for dysfunction, negligence and mismanagement.
However, it is now responsibility of the incoming government to make an example out of them so that masses can take a sigh of relief otherwise it will risk losing credibility and fail the uphill task of revamping the country’s economy.
Click here to View Printed Statements
Click here to View Printed Statements
Pakistan needs widely credited politician to resolve energy crisis
Central General Secretary of the All Pakistan Anjuman-e-Tajiran Naeem Mir on Friday said business community want Shahbaz Sharif as energy minister to resolve energy crisis.
We have full faith in skills and selflessness of the former chief minister Punjab who can resolve the crisis engineered by the former government, he said.
Talking to Dr Murtaza Mughal, President of the Pakistan Economy Watch, Naeem Mir said that Pakistan braved massive mismanagement and corruption for years which triggered inflation, unemployment and economic meltdown.
The former governments wasted billions of rupees of taxpayers’ money only to further deteriorate ailing power sector and public sector enterprises.
Credit of successful elections goes to masses, judiciary and ECP
The Pakistan Economy Watch (PEW) on Monday said the credit of successful elections goes to undeterred masses, judiciary and the Election Commission.
The failure of PPP is being attributed to unabated corruption, energy crisis, destruction of independent institutions and decisions of some advisors with dual nationality, it said.
After unexpected surge in the National Assembly, the PML-N Chief Nawaz Sharif should initiate nation building by prioritising economic revival, make taxation system just, and reverse policy of taxing poor to please rich, said Dr Murtaza Mughal, President PEW.
Otherwise, PML-N will meet the fate of PPP in the next elections scheduled in 2018. PTI Chief Imran Khan should also walk his talk to save country from becoming a failed state, he said.
Incompetent cabal cannot revive recession-bound economy
The Pakistan Economy Watch (PEW) on Thursday said masses would be responsible for country’s failures in future if they again elected leaders without vision and basic competence.
A weak government will not be able to overcome challenges or initiate reforms which will accelerate economic contraction paving way for default, it said.
We must blame nobody but ourselves for sad state of education system, collapsing healthcare system, an overfed yet inefficient civil service, pervasive crime and terror, and corruption that has become endemic, said Dr Murtaza Mughal, President PEW.
That is because we had elected a government believed and behaved like it was unaccountable, he said while talking to Baig Raj, President Punjab Forum.
A change can end the bonanza of influential industrial groups
The Pakistan Economy Watch (PEW) on Sunday said some influential industrial lobbies are trying to influence the outcome of the upcoming Parliamentary elections.
The highest-spending lobbyists are pumping heavy amounts into political campaigns while most of the money is flowing towards candidates who have helped them earn billions over the last five years, it said.
The attitude of the rulers who favour influential business groups over the national interests is an open secret which speaks of the extraordinary influence these lobbies enjoy over the policy-making process, said Dr Murtaza Mughal, President PEW.
The leading business lobbies view a change after elections as detrimental to their interests as it can result in a policy change jeopardise their bonanza, he added.
Students losing interest in QAU, moving to private institutions
The Pakistan Economy Watch (PEW) on Friday expressed grave concern over politics and leadership crisis in the Quaid-i-Azam University (QAU).
Promotion of politics, nepotism and harassment of students since years is bringing the graph of QAU down which was once ranked as number one institution in the public sector by the Higher Education Commission, it said.
The Quaid-i-Azam School of Management Sciences (QASMS), providing quality and affordable education to middleclass has suffered the most in last two years, said Abdullah Tariq, SVP PEW.
Talking to a group of students, he said that a good number of highest achieving students get admission but fails to make it which is worrying.
Precious metals retreat sign of global slump
Violent gold fall seen as failure of capitalism
Islamic financial system getting attention
The Pakistan Economy Watch (PEW) on Wednesday expressed concern over receding gold and silver prices terming it a sign of shrinking economic activity on the global scale.
Contracting economic activity is because of incoherent policies of western banks causing falling demand, is said.
Sharpest decline in gold prices in 30 years is a turning point on the global economic map since financial crisis in 2008 after which investors lost interest in paper money and shifted towards gold, said Dr Murtaza Mughal, President Pakistan Economy Watch.
He said that gold tripled in value in last three years before a recent downturn which is amazing as no government can print gold like their currencies.
Weak government to harm economy in the years to come
Increased horse-trading to disappoint masses
The Pakistan Economy Watch (PEW) on Tuesday said the upcoming elections will result in a fragmented government which will result in continued political and economic instability hurting millions more.
The uncertainty may not be settled after elections as another era of horse-trading will take toll on the limping economy, it said.
Majority of those who supported PPP in 2008 elections are disappointed due the hardships inflicted upon them in the name of democracy, said Dr Murtaza Mughal, President Pakistan Economy Watch.
He said that the divided rivals of PPP are busy in luring masses and using issue of energy crisis which has unnerved people but none has a concrete plan to resolve outstanding issues.
Dr Murtaza Mughal said that politicians are issuing contradictory statements and promising a change which is unlikely to happen in the current set of circumstances.
Power sector cannot survive without reforms
The Pakistan Economy Watch (PEW) of Sunday said that electric power transmission and distribution losses are increasing with an amazing speed compromising economic growth.
Pakistan is among top ten countries in the electric transmission and distribution (T&D) losses which has become a major threat, it said.
Pakistan lost 24 per cent of entire electric production in 2004, in 2010 it was ranked 23rd while in 2011 it jumped to be one of the top 14 countries among a group of 131 nations, said Dr Murtaza Mughal, President PEW.
Now the country has the honour of losing almost 40 per cent of the power generated through various sources, he said.
On the other hand, he said, Bangladesh T&D losses are at 2 per cent, Finland 3 pc, South Korea and Israel 4 pc, China and Zimbabwe 6 pc, UAE and UK 7 pc, and Afghanistan 13 pc.
Timely elections, stable govt critical for country’s survival
The Pakistan Economy Watch (PEW) on Sunday expressed grave concern over deteriorating economy saying that interim setup lacks focus on economy.
Lack of serious attitude towards economy on the part of former government has left country with two options, seek IMF loan or face an economic collapse, said Dr. Murtaza Mughal, President PEW.
He said that economy is facing serious challenges that include sluggish growth, mounting energy shortages, drying investment, rising budget deficit, climbing public debt, escalating unemployment and rampant poverty.
The FBR has failed to achieve collection target as usual paving way to third downward revision in the target which will be difficult to realise due to political uncertainty and low productivity, he said.