Archive for September, 2012

PEW unearths rental gas plants scam

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ISLAMABAD: The Pakistan Economy Watch (PEW) on Friday said Ministry of Petroleum and Natural Resources has started implementing plan of installing rental gas extraction plants on various gas fields.
Following the suit of those who plundered national resources in the rental power in the grab of resolving energy crisis a group has been busy in introducing rental gas plants across the country on the lame excuses, it said.
A project near Hyderabad Sindh known as Kunnar Pasakhi Deep (KPD) has already been awarded to LPG king Iqbal Z Ahmed who is charging 380 dollars per tonne to process raw natural gas, said Abdullah Tariq, SVP PEW.
This two-year deal on thrice the market rate will inflict a loss of Rs 7 billion on the public exchequer while some officials and politicians will be the beneficries, he added.

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PEW opposes Petroleum Ministry Plan to grab Rs.38 bn from national kitty to favour fertilizer industry

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ISLAMABAD: The Pakistan Economy Watch (PEW) has opposed a plan of Petroleum Minister to grab Rs.38 billion from national kitty to favour some business tycoons of fertilizer industry. In a statement issued here on Wednesday, presdent Pakistan Economy Watch Dr.Murtaza Mughal said Petroleum Ministry has sent a summary to the Economic Coordination Committee (ECC) of the cabinet for its approval to provide Rs.38 billion to fertilizer industry from revenue of the Gas Infrastructure Development Cess (GIDC) to subsidise the building and laying of gas transmission lines. read more…

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Economic losses unacceptable during protests

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The Pakistan Economy Watch (PEW) on Sunday said plunder of public and private property which resulted in economic losses to the tune of billions of rupees are unacceptable during protests.
Political leadership remained confined to their protected homes on Youm-e-Ishq-e-Rasool which resulted in unabated violence leaving whole country bleeding while losses crossed Rs 150 billion according to an estimate, it said.
Calls issued by different quarters for peaceful rallies against the third-rate blasphemous film was nothing but a formality, said Dr. Murtaza Mughal, President PEW.
Talking to Allama Prof. Ajaz Mehmood Qadri, Chairman International Peace Council for Interfaith Harmony, he said that what we witnessed on the streets could not have been farther from the teachings of the Prophet (PBUH), who is revered as Rahmatul-lil-Alameen.

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LPG import plan rejected

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Plan aimed at personal benefit, masses to pay bill
The Pakistan Economy Watch (PEW) on Friday rejected government’s plan to import 15 thousand tonnes of Liquefied Petroleum Gas (LPG) monthly during winter.
The import of 75 thousand tonnes of LPG which will continue for from November to March to reduce shortage of natural gas is aimed to personal welfare while masses will have to pay the bill, it said.
The top management of Sui Southern Gas Company Limited and Sui Northern Gas Pipelines Limited has been directed to buy 500 tonnes of LPG each from Saudi Aramco to be added in gas system after mixing air in it.
Similarly, the SSGC and SNGPL, which will buy 250 tonnes of LPG each, has been directed to make a deal through a broker, highly placed sources in the Ministry of Petroleum and Natural Resources told Abdullah Tariq, SVP, PEW.

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Future of 40 QAU students in jeopardy

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Students paying price of mismanagement by admin
The Pakistan Economy Watch (PEW) on Tuesday said the administration of Quaid-e-Azam University has destroyed the future of forty students by ousting them for failing to meet criteria.
The Quaid-e-Azam University, ranked as top educational institution by the HEC, admitted these students in BBA in September 2010 after all tests and ousted them after four semesters in September 2012 by declaring them unfit for studies.
During the two-year stay in university regular and self-finance students collectively paid over 10 million in fees but they were not given attention they deserved which resulted in C grades that paved way for their ineligibility, a delegation of several aggrieved students and their parents told SVP, PEW Abdullah Tariq.

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Cheap Resource: Coal to help cut power production cost

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Pakistan Economy Watch President Dr Murtaza Mughal, while welcoming the government’s plan to run inefficient thermal power plants on coal, has said it will not only enhance power production from Jamshoro and Guddu plants by 700 megawatts but will also reduce production cost by Rs7 per unit.
In a statement, Mughal said the government should plan to covert more power plants into coal-based stations in order to lessen reliance on expensive furnace oil, slash production cost and reduce oil imports.

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No development sans focus on quality education

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Billions being spent on useless projects
Govt policies against the interests of workers
The Pakistan Economy Watch (PEW) on Friday said economic development cannot be ensured unless quality and affordable education is available to everyone in the country.
Apart from economic revival, peace in the society can also be attained by focusing development of the declining education sector, it said.
Mismanagement, inefficiency, energy crisis and corruption is frequently blamed for all the ills by all segments of the society including opposition but no one is pointing figure towards deteriorating state of education in the country, said Dr. Murtaza Mughal, President PEW.
Every year two million people are joining the job market with half illiterates while majority of the remaining half has sub-standard education which is of little use, he said.

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Handing over Gwadar port to China best possible solution

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Gwadar development to transform lives in Balochistan
Balochistan port to ensure journey to prosperity
The Pakistan Economy Watch (PEW) on Tuesday welcomed the decision by the government to hand over management of strategic Gwadar deep-water port to China following the pull-out of Singapore’s PSA International.
Willingness on the part of Beijing to take control of the port will encourage investment and professional handling of port operations. It will bring two countries closer and promote social and economic development, it said.
Gwadar is close to the Strait of Hormuz through which much of the Gulf’s oil exports are carried to other countries while converting it into an oil pipeline hub best suit Chinese interests, said Dr. Murtaza Mughal, President PEW. read more…

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Govt plan to run power plants on coal lauded

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Resolution of energy crisis tied to Iran gas project
The Pakistan Economy Watch (PEW) on Sunday lauded the government’s decision to run three inefficient thermal power plants on coal.
It also lauded Asian Development Bank which has agreed to finance the conversion project.
Initially, the move will not only enhance power production of Jamshoro and Guddu thermal power plants by 700 MW but also reduce production cost by Rs 7 per unit, said Dr. Murtaza Mughal, President PEW.
Government, blamed for aggravating the energy crisis, should plan to covert more power plants to coal to reduce reliance on furnace oil, reduce production cost, and shrink oil import bill, he said.

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Petro hike proves Govt’s indifference towards masses

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Energy minister should accept failures, resign
Govt snatches away right of people to live
The Pakistan Economy Watch (PEW) on Sunday said recent hike in petroleum and CNG prices despite a slide in the international market shows that government remains indifferent to the plight of masses.
The hike speaks of mismanagement and inefficiency of the part of the government which has failed to raise funds through any other means except upward revisions of fuel prices, it said.
The minister for petroleum and natural resources should immediately resign after accepting his repeated failures, said Dr. Murtaza Mughal, President PEW.
The PPP-led coalition has raised petroleum prices by more than 60 per cent since it came to power despite getting almost Rs 40 per litre as levies and sales tax from consumers, he added.
Dr. Murtaza Mughal said that in a bid to earn an additional Rs 100 billion, the government has taken a step which will destabilised economy and threaten budget of every household.

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Easy borrowing rules, new measures to boost investment demanded

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Banks unwilling to support private sector despite interest rate cut
The Pakistan Economy Watch (PEW) on Friday said economy is showing no signs of recovery despite recent cut in policy rate by the State Bank.
Reduction in the interest rates have not motivated commercial banks to start lending to the private sector as they still prefer to advance loans to the government, it said.
The cost of credit is still considered high in business community which barring economic revival since years, said Dr. Murtaza Mughal, President PEW.
Other reasons behind frustration in the private sector include energy shortages, political uncertainty, inflation and deteriorating security conditions.

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