Archive for July, 2014

Pakistan heading towards severe debt trap

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The Pakistan Economy Watch (PEW) on Wednesday said country would need 10.8 billion dollar to repay foreign debt in the on-going fiscal.
Policymakers are pinning hopes on foreign direct investment of privatisation to repay loans as it can only spare 6.5 billion dollars to discharge international obligations, said Dr. Murtaza Mughal, President PEW.
It appears that government will have to borrow more from international lenders to repay loans.
He said that the government has also borrowed three trillion rupees from domestic sources during the last fiscal year pushing up debt from Rs 14 trillion to Rs 17 trillion.
The incumbent government whose top officials frequently criticised former government for rackless borrowing has been obtaining 300 percent more funds from local lenders than what the PPP-led government used to borrow from domestic sources, he noted.
Dr. Murtaza Mughal said that government income was Rs 275 billion less than the projected figures while its expenditure exceeded by Rs 112 billion during the same period which is contrary to the pre-poll promises of PML-N.

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In: UncategorizedAuthor: AAMIR JAVEDComments Off on Pakistan heading towards severe debt trap

PRCS appoints Dr. Mughal as motivational speaker

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Pakistan Red Crescent Society (PRCS) has appointed renowned columnist and President of the Pakistan Economy Watch Dr. Murtaza Mughal as motivational speaker.
Dr. Mughal has been assigned with the task to inspire youngsters towards volunteerism and deliver informative lectures at various places to promote the idea of volunteerism.
PRCS Chairman Dr Saeed Elahi while handing over papers of appointment to Dr. Murtaza Mughal said that attracting masses towards serving humanity is the best use of one’s spoken and litrery skills.
Volunteerism benefits both society at large and the individual volunteer and its importance cannot be undermined as it exceed all cultural, linguistic and geographic boundaries, he added.
He said that many of our volunteers become closely involved with the communities in which they work and live, engaging beyond the scope of their daily tasks.

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In: UncategorizedAuthor: AAMIR JAVEDComments Off on PRCS appoints Dr. Mughal as motivational speaker