Archive for March, 2012

Govt asked to undo Musharraf’s gas decision

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Power projects should be reconverted on furnace oil, coal
Pakistan only country using clean fuel for power generation
The Pakistan Economy Watch (PEW) on Friday asked the government to reverse gas decision taken by former dictator Pervez Musharraf which resulted in depletion of precious gas reserves.
Before 2002 there was only one 750 MW power generations unit of KESC at Port Qasim which was using natural gas.
On 30th May 2011, Private Power and Infrastructure Board presented a concept paper to in its 88th Board meeting to convert thermal power stations on cheaper fuel.

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Budget proposals a futile practice

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Shifting economic priorities stressed
Unjust taxation keeping country backward
Private sector should stop presenting budget proposals
The Pakistan Economy Watch (PEW) on Sunday termed budget proposals by different business chambers, and associations a futile ritual with no positive impact.
Budget proposals have never been accepted for the welfare of masses or the business community which is making country a bad place to live and a risky destination for investors, it said.
Enhancing tax revenues and protecting evaders seems to be the major concerns of the collectors despite knowing its disastrous impact on the society and country, said Dr. Murtaza Mughal, President PEW.

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PEW questions credentials of Indian spiritual leader

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Deception in guise of spirituality a big industry in India
Billionaire Ravi Shankar a fake guru, spiritual fraud
Every famous Hindu guru is super rich, controversial
Indian influence reaches to dangerous level in Pakistan
The Pakistan Economy Watch (PEW) on Thursday questioned the credibility of famous Indian spiritual leader Sri Sri Ravi Shankar by asking how come a person advocating love, peace and renouncing attachment to possession enjoy princely living.
Billionaire gurus have become one of the major industries in India and Shankar has become a bestseller due to positive reports in western media, it said.
It is normal in Hindu spirituality to trace one’s lineage of gurus but Shankar would never mention his gurus on website or literature, said Dr. Murtaza Mughal, President PEW.

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Govt asked to ensure trade facilitation

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PaCCS roll-back to hurt traders, revenue collection
Pakistan stands 110th in int’l LPI ranking, India is 47th, BD 79th
The Pakistan Economy Watch (PEW) on Tuesday asked the government to reduce impact of system on the international trade by simplifying and harmonising the cumbersome procedures.
It will reduce cost of doing business, ensure predictability, benefit governments and taxpayers, guarantee higher revenues, attract investment and improve the international rating of the country, it said.
Exporters and importers are facing issues like unnecessary documentation, lack of transparency and rapid legal redress, excessive clearance time, absence of co-ordination between concerned agencies, and absence of modern customs techniques, said Dr. Murtaza Mughal, President PEW.

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conomists fear budget deficit likely to widen

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ISLAMABAD: Independent Economists have said that the govenment will not be able to achieve current fiscal year’s revised budget deficit target of 4.7 percent due to resource-constraints.

While talking to Online here on Sunday renowned economist Dr Salaman Shah said that budget deficit was expected to wide further in current fiscal year 2011-12 because of debt repayments and a lack of external assistance.

He said that the government recent decision of postponing the launching of 3G licence will also wide the budget deficit as the launching of 3G licence was expecting to generate Rs.75 billion during on going financial year.

“Keeping in view the depressive economic situation in the country budget deficit may remain in the range of 6 to 7 percent,” Dr Salman Shah said, adding that this is the pre-election year and the government was tending to spend more on the public sector development front ahead of general election.

Executive Director(ED) Sustainable Development Policy Institute (SDPI) Dr Abid Sulari said that to get revised budget deficit target of 4.7 per cent was almost impossible for the government due to slow releases from Coalition Support Fund (CSF) and financial constraints.

While talking to Online President Pakistan Economy Watch (PEW) and economist Dr Murtaza Mughal said that government has needed to take tangible steps to issue Secondary Public Offerings for the state-run oil firms to bridge the fiscal gap.

He said that Pakistan had already started repaying to the International Monetary Fund (IMF) loan last month with a $399 million payment which will also affect the government efforts to keep budget deficit in control.

He further said that noting impossible for the government but it needed political will so in the case with budget deficit if government can take concrete measures budget deficit target may be achieved. – Online

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Need for effective accountability apparatus underlined

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Clarification: NHA admits PEW reports

Financial matters of ministers, departments need attention of authorities
The Pakistan Economy Watch (PEW) on Sunday underlined the need for effective accountability apparatus in the country.
Financial matters of many ministries and departments needs urgent attention of the authorities to ensure proper utilisation of funds which will guarantee national development, it said.
Stories of corruption appearing in press, Auditor General’s reports and Transparency International Pakistan’s findings should not fall on deaf years, said Mirza Riaz, Secretary General of the PEW.

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Govt claim of hike in CNG consumption debatable

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Controversial steps to scare away potential investors
In India CNG sold for Rs 35.45/kg, Rs 77.12 in Pakistan
The Pakistan Economy Watch (PEW) on Friday said government’s claim of an extra-ordinary 39 per cent hike in CNG consumption is arguable.
According to a CNG association, the consumption has witnessed a nominal growth of 0.4 per cent in 2011, it said.
How come CNG consumption increased when a good number of the filling stations remained closed for almost five months in 2011 due to load management, Dr. Murtaza Mughal, President PEW questioned.
Data regarding consumption should not be kept secret, it should be made public so that all stakeholders and masses know the facts, he demanded.

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Govt closing CNG stations indefinitely to please fertiliser sector

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Unemployment, massive public protests feared
CJP asked to stop govt from usurping rights of masses
Masses, CNG, transport sector asked to resist unholy designs of rulers
The Pakistan Economy Watch (PEW) on Monday said government has decided to close CNG stations in Punjab indefinitely to please the fertiliser sector.
Unplanned measures of authorities will leave tens of thousands unemployed and ignite massive unrest, it said.
Chief Justice of the Supreme Court should take immediate notice of the illegal and unjustified decision to safeguard the basic right of the masses, said Dr. Murtaza Mughal, President PEW.

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Economic rights of masses being usurped

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Economic revival linked to provision of human rights
Majority suffering from crisis of economic opportunity
HR advocates should strive to reshape economic thinking, practices
Influence of human rights, global economic disparities spreading side by side
The Pakistan Economy Watch (PEW) on Thursday said economic revival cannot become reality unless serious steps are taken to ensure protection of the human rights of the masses.
Economic rights of the commoners are being usurped while majority continue to suffer from crisis of economic opportunities that is threatening society, it said.
Unplanned response to the crisis related to economy, external challenges, law and order, food and fuel prices etc. are far from satisfactory which calls for an effective policy response, said Dr. Murtaza Mughal, President PEW.

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