Archive for April, 2013

PEW expresses concern over increasing T&D losses

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Power sector cannot survive without reforms
The Pakistan Economy Watch (PEW) of Sunday said that electric power transmission and distribution losses are increasing with an amazing speed compromising economic growth.
Pakistan is among top ten countries in the electric transmission and distribution (T&D) losses which has become a major threat, it said.
Pakistan lost 24 per cent of entire electric production in 2004, in 2010 it was ranked 23rd while in 2011 it jumped to be one of the top 14 countries among a group of 131 nations, said Dr Murtaza Mughal, President PEW.
Now the country has the honour of losing almost 40 per cent of the power generated through various sources, he said.
On the other hand, he said, Bangladesh T&D losses are at 2 per cent, Finland 3 pc, South Korea and Israel 4 pc, China and Zimbabwe 6 pc, UAE and UK 7 pc, and Afghanistan 13 pc.

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Pakistan left with two options, IMF loan or economic collapse

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Timely elections, stable govt critical for country’s survival
The Pakistan Economy Watch (PEW) on Sunday expressed grave concern over deteriorating economy saying that interim setup lacks focus on economy.
Lack of serious attitude towards economy on the part of former government has left country with two options, seek IMF loan or face an economic collapse, said Dr. Murtaza Mughal, President PEW.
He said that economy is facing serious challenges that include sluggish growth, mounting energy shortages, drying investment, rising budget deficit, climbing public debt, escalating unemployment and rampant poverty.
The FBR has failed to achieve collection target as usual paving way to third downward revision in the target which will be difficult to realise due to political uncertainty and low productivity, he said.

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Elections not to bring any meaningful change; Hamid Gul

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Masses asked to reject cosmetic changes in the name of elections
Lieutenant-General Hamid Gul (Retired) on Thursday said elections may bring some cosmetic changes but it will not bring any meaningful change to resolve issues confronted by masses and the country.
Masses will continue to reel under inflation, lawlessness, unemployment, and food insecurity while elite will flourish without discharging national obligations under the oppressive democratic system, he said.
Speaking at Firk-e-Farda Forum, the former chief of the Inter Service Intelligence Lt. Gen. (Retd) Hamid Gul said that democracy is a tool of western imperialism to dominate world which must be rejected by masses to get Islamic system imposed.
He said that communism is dead while shelf life of Christian democracy is over. It is dying at our doorstep while the humanity is in need of a new and just system for which Pakistan can become a model, he added.

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Government urged to take steps to overcome energy crisis

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While lamenting the poor situation, Pakistan Economy Watch (PEW) has urged the caretaker government to take measures for overcoming energy crisis which has adversely affected country’s economic growth. In a statement issued here on Monday President Pakistan Economy Watch Dr Murtaza Mughal said the electricity load-shedding has increased once again across the country as shortfall has reached 4000 megawatt.
He said electricity load-shedding has created a shocking situation in the country which is being badly affected the country’s nascent economy. People of urban as well as rural areas are bound to suffer at the hands of Water and Power Development Authority (Wapda) which has pushed the country into abyss of degradation.

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Govt asked to review captive power plant policy

Inefficient plants wasted gas worth Rs 350 billion in five years
Supreme Court should unmask elements behind damaging move
The Pakistan Economy Watch (PEW) on Friday asked the government to review policy of providing natural gas to inefficient captive power plants that have wasted gas worth Rs 350 billion in last five years.
Gas companies continue to provide fuel to the primitive plants while avoiding stress on improving the efficiency which will reduce wastage currently estimated over 70 per cent, it said.
Captive power plants are getting gas in return of political favours which is causing an yearly loss of minimum Rs 70 billion, said Dr. Murtaza Mughal, President PEW.
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PEW calls for enhanced awareness on software piracy

The Pakistan Economy Watch (PEW) on Tuesday called for enhanced awareness regarding software piracy which has emerged as a threat to businesses worldwide disrupting their operations and threatening their reputation.
Governments, private sector and NGOs should turn their attention to raising awareness about rampant piracy which has become a national security threat for many countries, said Dr. Murtaza Mughal, President PEW.
A recent global study commissioned by Microsoft and conducted by International Data Corporation (IDC) has discovered that the chances of infection by unexpected malware are one in three for consumers and three in ten for businesses, he said.
The cost of dealing with the impact for enterprises is predicted to be $114 billion globally in 2013; in Asia Pacific the spending will reach $39 billion while it increases to $129 billion if the cost of data loss is added.

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Mr. Hetham Nasir awarded PEW sheild in recognition of his insights on Pakistan Economy


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