Archive for September, 2010

Sentence of Dr. Aafia exposes flaws in US judicial system: PEW

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The Pakistan Economy Watch (PEW) on Friday said that sentence of Dr. Aafia Siddiqui has exposed the flaws in the much touted US judicial system.
The development has also uncovered US claims about impartiality as well as commitment to respect and uphold human rights, it said.
Aafia’s abduction, torture, shifting to Afghanistan and later to the US exposed the greed and selfishness of former dictator Gen. (Retd) Musharraf, said Dr. Murtaza Mughal, President PEW.
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Maj Gen(R) Masud ur Rehman Kiani awarding life membership of “PANAH” to Dr. Murtaza Mughal

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Rising Incidence of Heart Disease A Big Threat To Economy

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President Pakistan National Heart Association (Panah) on Saturday said the economic growth over last decade has increased number of heart disease in Pakistan which is a serious threat to economic stability.
Thousands of operations are being conducted every day that can be prevented and billions of rupees could be saved. Cardiovascular problems are increasing poverty, reducing industrial and agricultural productivity, burdening health system and hurting economy which is already under stress.

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EU’s trade concessions assurance encouraging; US should follow the suit

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Kardar should try to limit borrowings, reform banking sector
Punjab Govt move to enhance heart diseases awareness lauded
Panah distributes Rs 2.5m aid through army, air force

The Pakistan Economy Watch (PEW) on Friday said that EU’s promise to grant trade concessions to Pakistan is encouraging; US should also follow the suit to help its ally overcome difficulties.
It said that new governor of State Bank should announce tough measures while releasing Monetary Policy Statement on 29th of Sept. An economist can prove a better choice than a banker in the current set of circumstances.
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Financial indiscipline can transform Pak into poorest country

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Pakistan can overcome flood losses without foreign loans
The Pakistan Economy Watch (PEW) on Monday said financial chaos could transform Pakistan into one of the poorest country in the region.
A single-minded focus on economy with a dedicated economic team having homegrown agenda can secure relief to masses.
Pakistan has ability and finances to overcome damages inflicted by floods without foreign assistance, said Dr. Murtaza Mughal, President PEW.
Government has earmarked Rs124 billion for ‘other developmental expenditures’ in the budget that should be diverted to rehabilitation, he said.
He said that Pakistan’s forex reserves stood at 13.3 billion dollars when the current government took charge. The exchange rate was Rs 62.60; stock market had crossed 13300 points while inflation stood at 14 per cent.
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Pakistan cannot afford to continue exporting yarn

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The Pakistan Economy Watch (PEW) on Sunday said countries like India with surplus cotton can afford to export yarn but Pakistan which has been suffering from shortage of cotton should not export raw material in large quantity.
America is a major exporter of yarn because its deficiency in value added industry. However, countries like Pakistan where three million people are working in garments sector cannot afford to export cotton or yarn.
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Textile sector unhurt by floods

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Industry capable of timely delivery of foreign orders
The Pakistan Economy Watch (PEW) on Wednesday said floods have not harmed country’s textile sector and foreign buyers need not to worry about delivery of their orders in the stipulated time.
Floods have inflicted heavy losses to the agriculture and livestock sectors while infrastructure has been devastated.
However, the textile sector, concentrated in the urban centres remained largely unharmed. It has ability and capability to accomplish all local and foreign obligations in time, said Dr. Murtaza Mughal, President PEW.
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