Archive for November, 2011

Country on verge of destruction: PEW

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ISLAMABAD: While criticizing economic policies of the country, the Pakistan Economy Watch (PEW) has said that incompetent economic managers have taken country on the verge of destruction.
While talking to Online on Sunday the Pakistan Economy Watch president Dr.Murtaza Mughal said that economy of the country was going down after every passing day which is needed urgent decisive actions.

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PEW lauds Govt for thwarting oil mafia designs

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The Pakistan Economy Watch (PEW) on Sunday lauded government for not bowing to the pressure of the influential Gilgit-Baltistan oil mafia.
The government known for bowing to pressure to different interest groups and market forces took a firm stand to confront the oil mafia which had planned to achieve goals by creating artificial shortage of oil in Gilgit-Baltistan (GB).
The powerful mafia that has embezzled billions by misusing petroleum freight subsidy since a decade was brought to lime light in January this year in a PEW report.

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MFN should not damage local industry to boost Indian economy

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Business community worried over New Delhi’s history of broken promises
Indian cooperation should not remain confined to statements only
The Pakistan Economy Watch (PEW) on Thursday said MNF status to India should benefit both countries. It should not damage Pakistan’s industrial sector to boost Indian economy and influence.
All stakeholders including network of 50 chambers and 128 associations affiliated with the FPCCI should be involved before including more items in the positive list to save domestic industry, it said.

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MFN: India shouldn’t remain highest uncertain destination for Pak businessmen

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Neighbours world’s poorest performer in intra-regional trade
Trade only recipe for mutual growth, poverty reduction
The Pakistan Economy Watch (PEW) on Tuesday said after getting MFN status, India should no more remain highest uncertain destination for Pakistani businessmen.
New Delhi needs to alter perception and lift trade barriers otherwise all efforts to ensure peace and prosperity through enhanced trade will remain counterproductive, it said.

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Agri uplift tiedto availability of cheap credit

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The Pakistan Economy Watch (PEW) on Sunday said availabilityof cheap credit can accelerate development of agricultural sector and ensurefood security.
Getting finances through informal as well as formal sourcesis a worldwide phenomenon in the rural areas but many nations are trying tofacilitate farmers through cheap credit to improve their standard of living, itsaid.
However, Pakistan lags behind as farming communities stillprefer informal financial sources to formal financial markets to obtain loansthat are costly but easily accessible, said Dr. Murtaza Mughal, President ofthe PEW.

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Modernization of transport sector emphasized

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Efficient transport system to enhance regional connectivity, revenues
Web of links tohelp Pak integrate better with regional markets
The Pakistan Economy Watch (PEW) on Wednesday saiddeterioration of railways is a threat to the trade which should be tackledimmediately.
Weak, unreliable, and outdated railways can be privatised toimprove its performance while the trucking sector, which is responsible for 96per cent of the total trade goods transport should be modernised, it said.
Reduced allocations and internal inefficiencies has reduced thepassenger share of railways from 41per cent to 8 per cent while freight sharehas dropped from 73 per cent to 4 per cent, said Dr. Murtaza Mughal, Presidentof the PEW.

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Bringing rival medicine systems closer to help masses

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Bringing alternative medicine into mainstream to help majority
Traditional sector significantly contributing towards promoting health
Alternatives have medical, economic implications, global herbal sale exceeds $ 50b
The Pakistan Economy Watch (PEW) on Saturday said bringing alternative system of medicine into the mainstream can help reduce healthcare costs and make government’s goal of health for all a reality.
Despite tremendous advancements in modern medicine, around 75 per cent of the developing world and 50 per cent of the western population prefer alternative medicines.

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FBR asked to win confidence of taxpayers

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Authorities shouldnt tax patience of masses
The Pakistan Economy Watch (PEW) on Thursday said Federal Board of Revenue (FBR) needs to win confidence of taxpayers to overcome image problem and overcome menace of low revenue collection.
The public image of apex tax authority remains fragile as majority of taxpayers see it with suspicion, it said.
Allegations of lack of integrity, wastage of funds, misrepresentation, inefficiency, indiscipline and arrogance has created a gulf between tax collectors and taxpayers that need to be bridged through serious efforts, said Fahim Talib Butt, Vice President Legal Affairs of the PEW.

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