Archive for February, 2013

ECC’s CNG import decision shocking: PEW

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CNG import ban lifted temporarily to please an influential group
CNG parts’ imports during ban and later clearance seems collusion
Revoking decisions of former FM may be linked to his resignation
The Pakistan Economy Watch (PEW) on Saturday expressed shock over decision of the Economic Coordination Committee (ECC) to temporary lift ban on the imports of CNG cylinders and kits terming it against the government stance, claims and decisions.
Top government functionaries have been publically blaming that CNG sector has become a burden responsible for all the ills of the energy sector and that the economical fuel will be phased-out to save economy from total collapse.

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Initiative of Abu Dhabi group, Malik Riaz lauded

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45 billion US dollar deal could prove to be a turning point
Historical investment to boost up economy, send positive message
Wealthy businessmen asked to follow suit by putting stalled projects in motion
The Pakistan Economy Watch (PEW) on Sunday lauded the initiative of real estate magnate Malik Riaz and Abu Dhabi group to invest USD 45 billion in Pakistan which would be the biggest investment in country’s history having potential to transform Pakistan.
Implementation of the landmark agreement signed by undeterred local and foreign businessmen will not only propel economy and reduce unemployemnt but send much needed very positive signals across, it said.

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Petroleum ministry pushing country to dark ages

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The Pakistan Economy Watch (PEW) on Thursday said Pakistan continues to march towards dark ages in absence of any concrete effort to resolve energy crisis by the authorities concerned that has left millions out of work and brought economy to the brink.
Petroleum ministry continue to keep critical energy issue on the back burner while trying to get approval of controversial projects aimed at personal welfare, said Dr. Murtaza Mughal, President PEW.
By ignoring implementation of viable projects to overcome energy shortages the politicians and advisers have initiated controversial projects that will not provide any relief to masses, he said.

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Pakistan cannot be entrusted to tax evaders

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ECP asked to block tax cheats from contesting elections
Country cannot afford another spell of corrupt democracy
Pakistan to become prosperous if Article 62, 63 implemented
The Pakistan Economy Watch (PEW) on Sunday said future of the country cannot be entrusted to politicians who have remained involved in massive tax evasion.
Election commission should take concrete steps to stop politicians involved in mass scale tax evasion from contesting parliamentary elections, it said.
Around seventy per cent of politicians, many billionaires, don’t pay taxes to discharge their obligations and at the same time ask masses to pay taxes to finance their luxuries, said Dr. Murtaza Mughal, President PEW.

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Flexible rules for establishing women’s chamber demanded

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Stringent procedures to leave all efforts by Govt useless
Traders not to use protest as first option if heard
The Pakistan Economy Watch (PEW) on Tuesday said new rules framed to create chambers for women, small traders and cottage industry should be flexible enough to attract the business community.
Some clauses in the Trade Organisation Bill 2013 approved by the joint committee of National Assembly and Senate Standing Committees on Commerce recently will only benefit the business community if it is widely accepted, it said.
The current set of rules may prove unappealing for majority of businessmen leaving the whole exercise counterproductive, said Dr. Murtaza Mughal, President PEW. read more…

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SBP yearly report a worthless document

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SBP report shows twisted picture of economy
Rosy picture cannot conceal hard facts from masses
Holding the State Bank of Pakistan (SBP) partly responsible for the gloomy economic situation, the Pakistan Economy Watch (PEW) on Sunday said the has failed to show correct picture of economy in its recently released annual report.
Political interference and attitude of the central bankers to please government while misleading masses has left the Apex bank untrustworthy and ineffective, said Dr. Murtaza Mughal, President PEW. read more…

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Govt’s recent steps for economic revival encouraging

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Early completion of Iran gas pipeline will be a gift for masses
The Pakistan Economy Watch (PEW) on Thursday said some recent steps taken by the government including ratification of Iran pipeline agreement by the Federal Cabinet and handing over Gwadar port to a Chinese firm are highly promising.
These steps will go a long way in reviving economy which is in tailspin since some time leaving millions jobless and threatening growth, said Dr. Murtaza Mughal, President PEW.
He said that Chinese cooperation in the pipeline project will make it a reality in less than expected time which will be a great service to the country and people of Pakistan reeling under energy crisis.

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