Archive for December, 2011

Overseas Pakistanis need encouragement

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EC decision distresses overseas Pakistanis
The Pakistan Economy Watch (PEW) on Thursday said Pakistanis working abroad have a critical role in the economic development of the country therefore they should be encouraged.
Remittances support millions of needy, reduce poverty and inequality and help government counter impact of dwindling foreign capital inflows, it said.

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Pakistan has no future sans Iran gas

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Govt delaying gas import to please US
India cannot ignore nearest gas reserves
PTI asked to keep energy top priority
The Pakistan Economy Watch (PEW) on Tuesday said government has been purposely delaying import of Iranian gas to please America which is damaging Pakistan’s economy.
Pleasing US on the cost of country is unfortunate; it suggests that government is dominated by incompetent and apathetic officials, it said.
Pakistan cannot secure its future without Iranian gas, said Dr. Murtaza Mughal, President of the PEW.

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NATO supply cut hurting Pakistan’s economy

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Oil tankers stranded at borders are live bombs
Ports, border points becoming storage and parking areas
Congestion hurting trade between Pakistan and Afghanistan
The Pakistan Economy Watch (PEW) on Sunday demanded steps to avoid losses to the economy after suspension of the NATO supplies.
Government should continue to cut vital supply line but chalk out a plan to keep economy clear of any negative impact, said Dr. Murtaza Mughal, President of the PEW.
Talking to leading transporters including VP, ICCI Shahid Zaman Shinwari, he said that the Nov 26 decision to cut NATO supplies has resulted in clogging at seaports.

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Credit to help up agri output: PEW

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Yellow Cab Scheme execution unsatisfactory

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Donors consider such schemes ineffective, against market norms
Steps demanded to reduce failures in poverty alleviation measures
The Pakistan Economy Watch (PEW) on Sunday said the much-publicised Yellow Cab Scheme is not coming up to the expectations due to mismanagement.
The scheme was launched on 14th of July 2011 with plan to distribute 2500 vehicles every month for eight months for the elimination of poverty and unemployment, it said.

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Imran asked to ensure transparency in party, funds

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The Pakistan Economy Watch (PEW) on Wednesday asked Pakistan Tehreek-e-Insaf (PTI) Chief Imran Khan to ensure transparency in utilisation of fund.
Funds collected for welfare projects and those raised for party should not be mixed to ensure transparency and avoid accusations as well as any possible legal problem, it said.
Any financial scandal will have a very negative impact on the on-going welfare projects, PTI and personality of Imran, said Dr. Murtaza Mughal, President of the Pakistan Economy Watch (PEW).

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Pakistan faces serious hunger threat

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Tax authorities not be able to achieve tax target

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US opposition for IP keeping donors away

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Prevailing situation and SBP’s policy rate decision

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MFN move to hurt textile industry

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The Pakistan Economy Watch (PEW) on Sunday said MFN status to India will damage local value-added sector which is providing jobs to millions and contributing more than any sector to the export earnings.
Rising input costs, burden of taxes, infrastructure issues, lack of enabling rules and regulations, deteriorating law and order situation and extortion has increased cost of doing business substantially, it said.
Our production is restricted, exports are shrinking and we stands at disadvantage as far as economy of scale and government’s support is concerned, said Dr. Murtaza Mughal, President of the Pakistan Economy Watch (PEW).

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Competition with India to wipe out Pakistan’s home textile, garments industry

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Input costs differential, size of industry puts Pakistan at disadvantage
Value-added exports declining, export of raw material in full swing
JVs with foreign apparel makers, introduction of latest tech imperative
Leaders of the garments and home textile industry on Friday said granting MFN status to India will eliminate value-added sector which is providing jobs to millions and contributing more than any commercial part of the economy to the export earnings.
Rising input costs, burden of taxes, size of industry, infrastructure, rules and regulations and law and order situation and extortion has increased cost of doing business substantially, they said.

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IMF expresses concern over Pak tax collection

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