Archive for February, 2014

GB strategic petroleum reserves position unsatisfactory

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GB strategic petroleum reserves position unsatisfactory
Call to boost GB petro storage capacity by 400 pc
The Pakistan Economy Watch (PEW) on Wednesday called for increasing petroleum storage capacity in the Gilgit-Baltistan (GB) to avoid any future problems.
Expressing concern over the current situation, it called for boosting GB petroleum storage capacity by 400 per cent which can help masses as well as armed forces in case of an emergency.
Talking to a group of businessmen from Gilgit-Baltistan, Dr. Murtaza Mughal, President PEW said that closure of main road leading to GB has become order of the day due to landsliding and law and order issues.
The situation results in scarcity of fuel and profiteering by certain elements which can be avoided by improve local fuel storage, he said.
Moreover, mega water reseviour projects and revamping the Karakoram highway would require atleast one hundred and fifty thousand litres of diesel per day which cannot be satisfied by the existing infrastructure which can handle only one million litres or demand of three days.

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Govt giving top priority to economic revival: Ikhlas

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PML-N policies to make Pakistan a developed nation soon
Resolution of energy crisis can help PML-N win 2018 elections: Murtaza Mughal
PML-N leader and Parliamentary Secretary for Capital Administration and Development Division (CADD) Raja Muhammad Javed Ikhlas on Monday said PML-N led government has been giving top priority to the economic revival so that masses can come out of the poverty.
He said that we will ensure timely completion of all the welfare and development projects and ensure provision of all basic facilities to people at their doorsteps.
Javed Ikhlas said that enabling policies of the PML-N government are welcomed inside the country and abroad which would help raise the living standard of people and put the country on the path to prosperity.

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PEW slates propaganda against Governemnt’s coal power generation plans

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Powerful oil lobby want increased share of imported fuel in the energy mix
Pakistan’s energy mix a big threat to economic revival
The Pakistan Economy Watch (PEW) on Sunday slammed propaganda against government’s coal power generation plans terming it an attempt of powerful oil lobby to further tilt energy mix in favour of imported fossil fuel.
Converting furnace oil based power plants to Thar coal can help save around six billion dollars being spent on import of furnace oil which is around 40 per cent of the energy mix, it said.
Oil import bill in the current fiscal is set of cross $ 15 billion due to CNG suspention widening current account deficit has already crossed mark of two billion dollars in the first seven months of the current fiscal as compared to 441 million last year, said Dr. Murtaza Mughal, President PEW.

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VP FPCCI Munawar Mughal congratulated

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The Pakistan Economy Watch (PEW) on Friday felicitated well-known business leader Munawar Mughal on resuming change of Vice President of the FPCCI.
It expressed the hope that veteran business leader will employ best of his skills to resolve issues of the business community with a special focus on twin cities.
The election of Mr. Munawar Mughal and his subsequent appointment as in charge of the FPCCI Capital Office speaks of faith of his superiors in his abilities, said Dr. Murtaza Mughal, President PEW.
He said that Munawar Mughal continued to strive for the rights of business community since decades and now he would be able to get their voice heard at apex forums.
He hoped that the newly elected VP of the FPCCI will employ all his energies and capabilities to bring business community together and resolve their outstanding disputes like health, education and residential facilities and a just rent control act.

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Improved trade to zap any chance of Pak, India war

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The Pakistan Economy Watch (PEW) Thursday said enhanced bilateral trade between Pakistan and India is only way to evade any chance of hostilities or war between neighbours.
Enhanced trade has emerged as the only strong incentive against tensions between Pakistan and India, it said.
Bilateral economic ties can flourish despite unresolved conflicts which will transform lives of tens of millions of people living hopelessly in the region, said Dr. Murtaza Mughal, President PEW.
Despite disputes and wars India and China set a bilateral trade target of $100 billion by 2015, he said.
Similarly, trade between China and Taiwan has crossed $175 billion mark while French and English who fought for centuries have become good partners like US and Vietnam.
Dr. Murtaza Mughal said that too much focus on security has deprived masses as well as the economies of the two countries of many benefits.

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Liberalised trade with India to benefit millions

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Anxiety among some business circles seen as groundless
Liberalised trade to cut food import bill, boost food security
The Pakistan Economy Watch (PEW) on Monday said liberalised trade with India will benefit tens of millions of people on both sides of the divide while reducing food import bill which is above five billion dollars.
Fears among Pakistani business and agricultural community including textile and pharma sector are unsupported, it said.
Intra-regional trade will get a boost when both the governments lift trade barriers to bring a major change which will have a positive impact, said Dr. Murtaza Mughal, President PEW/
He said that all the major political parties and key business associations are supporting trade liberalization with India but some sectors are voicing concerns to avoid competition with Indians.

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High cost of power generation can backrupt country: PEW

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Reducing cost of power generation a big challenge, becomes vital
Govt, opposition should also show determination for kalabagh dam
The Pakistan Economy Watch (PEW) on Sunday expressed grave concern over rising cost of power generation terming it one of the biggest problem having potential to bankrupt country.
Per unit cost of electricity stands at Rs 14 which jumps to Rs 20 after adding different taxes in it which is not affordable for domestic consumers as well as the industry, it said.
Power production cost must be brought down through Thar coal and early construction of kalabagh dam, transparency and efficiency otherwise it will leave industry incompetitive, said said Dr. Murtaza Mughal, President of PEW.
Country’s installed capacity for power generation stands at 21000 mw but it has been producing around half it due to various problems includingtheft, losses, non-payment of bills and chronic circular debt, he added.

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Thar coal to unleash new era of national development

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Coal power generation to reduce cost, improve energy mix
The Pakistan Economy Watch (PEW) on Tuesday lauded the government’s policy of utilising natural resources to quell energy crisis.
The policy of the incumbent government will improve energy mix tilted in favour of imported furnace oil and depleting natural gas while ensuring provision of economical electricity generated through Thar coal, it said.
Inauguration of Thar coal project is a great achievement of the government as well as opposition which indicate that political leadership has decided to shun differences for the greater cause of national development, said Dr. Murtaza Mughal, President of PEW.
The recent developments indicate that political leaders have laid to rest the habit of opposition for the sake of opposition which if continued will make Pakistan a developed country in next few years, he said.

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Resolution of energy crisis linked to rational petro policy

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The Pakistan Economy Watch (PEW) said on Sunday energy crisis cannot be resolved in absence of a pragmatic petroleum policy based on ground realities.
Energy crisis would continue to hold economy as hostage and frustrate all attempts to provide jobs to youth unless contained through serious efforts, it said.
Demand of the natural gas has been rising since years while production cannot be enhanced satisfactorily due to lack of transparency, objectionable practices of gas explorers, inadequate incentives, red tapes and legal problems, said Dr. Murtaza Mughal, President of PEW.

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