Archive for July, 2010

Transit deal an attack on sovereignty of Pakistan

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Agreement to ensure India supremacy in region
Deal signed under threat lacks moral validity
US enforcing agenda on gunpoint

The Pakistan Economy Watch (PEW) on Thursday said Afghan-Pakistan Transit Trade Agreement (APTTA) should be scrapped as it is an attempt to destabilise Pakistan by ensuring Indian supremacy in the region.
The deal has exposed undemocratic mindset of top US officials and added to trust deficit. It has forced many to think that Washington is enforcing its agenda on gunpoint and robbing Pakistan of its sovereignty, it said.
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Masses Paying Heavy Price For Second-Rate Food

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The Pakistan Economy Watch (PEW) on Sunday said that masses are not getting quality food despite paying exorbitant prices at canteens and tuck shops in the public hospitals.
A PEW survey found that the administration of Pakistan Institute of Medical Sciences (PIMS) has not revised rates of food items since 2003 leaving canteen contractors to seek adjustments in the quality.
The survey found discrepancies in awarding contracts. Rent of a coffee shop that was Rs 300 per month a decade back has now swelled to Rs 2, 27,000 per month. Another such shop given to an official of the concerned ministry is now paying Rs 2000 per month after paying Rs 500 as rent for a decade.
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US Support to Indian Water Aggression Disappointing

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The Pakistan Economy Watch (PEW) on Tuesday said frustration in Sindh over issue of Chashma-Jhelum link canal is a small part of a much larger problem.
Water protests can take an ugly turn and become a major source of disagreement if left unresolved, it said.
Political government can add another feather to its hat by breaking the ice. Scarcity of water merits urgent attention as it has the potential to harm provincial harmony. It can engage Pakistan in conflict with neighbours, warned Dr. Murtaza Mughal, President PEW.
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Effectiveness of Ramazan Package questioned

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Annual ritual of little benefit to poor
The Pakistan Economy Watch (PEW) on Sunday said Ramazan package has become a formal procedure that is of little significance as far as providing relief to masses is concerned.
Government will again try to check the hike in prices of essential food items during the holy month through subsidy, which amounts to accepting supremacy of profiteers, it said.
Such measures have rarely succeeded in the past and there is no proper mechanism in place to make it a success in future, said Dr. Murtaza Mughal, President PEW.
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Govt has no option but to tax masses to boost income

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FBR shortfall surpass combined deficit of all provinces
The Pakistan Economy Watch (PEW) on Wednesday said that government seems reluctant to limit borrowing, curtail expenditures and tax some leading sectors to raise income that will leave it with no option but to tax masses.
This will make life of common person more miserable and frustration will touch peak level, it warned.
Rupee is facing a record depreciation versus dollar despite record forex reserves and record remittances which speak of trust of trust of investors in the policies of economic managers.
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Human capital depleting

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The Pakistan Economy Watch (PEW) on Sunday expressed deep concern over fast deterioration in the formation of human capital in the country.
Lack of awareness and interest among decision makers, inconsistent priorities, rising inflation, mismatched income and uneven resource distribution is adversely affecting human capital formation, which is a big threat for the country, it said.
Reduced investment in human capital will influence educational outcomes as association between recent cut on education and improvement in other sectors remains ambiguous, warned Dr. Murtaza Mughal, President PEW. It will not improve the society or economy, he said.
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Improvement in corporate M&A process suggested

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The Pakistan Economy Watch (PEW) on Sunday said corporate mergers and acquisitions (M&As) are good if aim is to grow rapidly in short span without taking pain of expansion or creating another business entity.
Proper M&As can help improves image, efficiency, services, reach and financial health of institutions as well as shareholders.
Corporate combinations are futile if empire building, manipulation, tax evasion, quick public listing or dodging law is the real motive. It should not contribute to unemployment and reservation among shareholders, said Dr. Murtaza Mughal, President PEW.
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