Archive for January, 2012

Revamping CGT to pollute stock markets

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People losing interest, faith in government, stock business
Stock exchanges to become hub of money launderers, tax evaders
Enhanced money-laundering opportunities to bring a bad name to country
Role of a famous NRO banker is the Reshma Rental Power case remained unnoticed
International tax consultant and expert on studying international money laundering operations and drug economy, Dr Ikramul Haq, on Sunday said allowing injection of black money in the stock markets will not only facilitate money laundering but also have negative impact for much-needed revenue generation initiatives.

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Govt unlikely to achieve 4pc GDP growth rate

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Islamabad—Independent economists have said that keeping in view the current economic situation of the country government is unlikely to achieve 4 per cent GDP growth rate during current financial year 2011-12.
Talking to Online on Sunday renowned economist Dr. Salman Shah said that if country’s agriculture sector performance remained good then GDP growth rate is expected around 3.5 per cent.

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SECP Takaful move to benefit millions

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Islamic insurance penetration to ensure stability
The Pakistan Economy Watch (PEW) on Sunday said SECP’s move to push Sharia compliant risk coverage in Pakistan is to benefit millions.
The move may triple insurance density and penetration in which Pakistan ranks lowest in the region, it said.
Islamic insurance can benefit those who do not subscribe to the conventional insurance forbidden by the Sharia law, said Dr. Murtaza Mughal, President of the PEW.
Takaful, the Halal risk mitigation has been growing 15 per cent annually, however it grew 31 pc in 2011, he added.
Unlike conventional insurers who charge money to cover the risks, Takaful spread the risk and rewards among all participants, he informed.

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Masses being misguided on the CNG issue

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Energy ministry aims contrary to national interests
The Pakistan Economy Watch (PEW) on Wednesday said masses are being misinformed on the issue of compressed natural gas (CNG) to benefit few influential.
Present CNG consumption in country is not more than 8 per cent but those who want to relieve masses of their hard-earned money have targeted it, it said.
Import of any alternative fuel will cost additional billions as far as modifications of vehicles, establishing new filling stations, industrial units for conversion and reconfiguration of while system is concerned, said Dr. Murtaza Mughal, President of the PEW.

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Turkmen gas project costly, uncertain

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TAPI gas pipeline no alternative to Iranian gas
Karzai administration may fail to keep TAPI online
Local exploration, LNG import arrangements unsatisfactory
US, donors support to TAPI unhelpful in resolving Pakistan gas crisis
The Pakistan Economy Watch (PEW) on Sunday said Government has been wasting time on a costly and highly uncertain Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline project while ignoring the only viable option of importing gas from Iran.
America is opposing Iran-Pakistan Gas Pipeline Project to counter Tehran’s influence while throwing full weight behind TAPI to benefit western multinational companies that enjoy control over Dauletabad gas reserves, it said.

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LPG price hike unjust, unethical

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Hitting masses for profit in biting weather cruelty
The Pakistan Economy Watch (PEW) on Sunday said recent hike in Liquefied Petroleum Gas (LPG) prices is unjust and against the interest of masses braving severe weather.
Decision of upward revision of LPG prices from Rs 80857 to Rs 92188 per tonne by Pakistan Petroleum Exploration and Production Companies Association (PPEPCA) cannot be justified as there is no indication of any cost increase in the production, it said.

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Govt intervention not to benefit growers but hoarders

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Cash grant, power bill waiver can support cultivators
The Pakistan Economy Watch (PEW) on Tuesday said expected intervention of the government in the cotton market to stabilise prices will not benefit small growers but hoarders.
Planning Commission has already termed interference against the free market mechanism while Ministry of Finance has expressed its inability to provide funds to Trading Corporation for procurement.
The Prime Minister has not directed the TCP to buy cotton but asked for a detailed report after which different ministries are preparing a paper to be presented in the Economic Coordination Council on Jan 05, said Dr. Murtaza Mughal, President of the PEW.

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New Year, more traumatic

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PEW paints gloomy picture of 2012
Economic reforms to remain a far cry
No plans to put economy back on track

The Pakistan Economy Watch (PEW) on Sunday said the New Year will bring more pains to the dejected masses.
There are slim chances of economic recovery in 2012 as government will continue to divert all energies to the on-going political struggle, it said.
The rulers are just interested in securing themselves and gaining political mileage; they lack will to take concrete policy actions, said Dr. Murtaza Mughal, President of the PEW.

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PEW demands reveale of non-tax payers names: ONLINE

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