Archive for March, 2008

Black gold: blame game not to benefit anyone: Dr. Mughal

Whole world is witnessing an economic downturn due to surging prices of commodities including crude and important nations seem more interested in blame game than resolving the issue. OPEC seems less concerned with the whole issue as the crisis is adding to their huge reserves of petro dollars.
On the other hand Pakistan Government is only relying on their relations which will not work for long, said Dr. Murtaza Mughal, President Pakistan Economy Watch in an exclusive interview with The Post.
He said that the cost of crude oil is surging to record highs and a battle of blame is in full swing. The suspects include oil industry, developed nations, US energy policy, commodity speculators, environmentalists and developing countries in Asia (China and India). read more…

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Tackling inflation, food dearth seen as uphill task for Pakistan’s economic managers

Amid warning by the world’s top lending institutions, the economic managers of ruling coalition have taken over an economy hit by stolen funds, waived off loans, record inflation and sluggish growth.
Wheat flour shortages and power deficiency that played a decisive role in recent election could prove an important factor if not tackled properly.
Number of people living under minimum food security level is increasing day by day which could hit growth and hike health costs. Presently 77 million people are facing food shortage and their low intake is hitting households in every direction.
Growing fiscal imbalances is another aspect to be considered seriously and dealt skillfully. read more…

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