Archive for August, 2014

Control on forex movement suggested to save nosediving rupee

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Speculators must be stopped from plundering central bank reserves
The Pakistan Economy Watch (PEW) on Tuesday expressed grave concern over retreat of rupee and suggested some control on free movement of foreign exchange to stop erosion in the value of local currency.
The political situation is contributing to the devastation of economy while massive flight of capital is resulting in depleting exchange rates which must be stopped by restricting movement of dollar, said Dr. Murtaza Mughal, President PEW.
Temporary exchange controls can defuse the situation otherwise it will have a negative impact on masses and every segment of the economy besides ransacking central bank’s reserves, he said.

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Political crisis: Pakistan to lose ranking in various int’l indexes

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The Pakistan Economy Watch (PEW) on Sunday said political agitation will result in lowered ranking for country in various subjects including the World Bank’s next Doing Business Report compromising its image.
The World Bank in its 2014 publication lowered Pakistan’s ranking in ease of doing business from 106 in 2012-13 to 110 in 2013-14 which will be brought down in the next report due to political uncertainty, said Dr. Murtaza Mughal, President PEW.
Country is facing serious challenges but the iron-headed power players are bent on sacrificing national and economic interests augmenting worries of masses to achieve their goals which has damaged stock market, rupee and commodity markets, he added.

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Ban on import of live animals sought

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The Pakistan Economy Watch (PEW) on Tuesday sought a ban on import of live animals from the developed world saying that it can threaten lives of people and livestock.
The government has recently allowed import of live animals from western countries facing mad cow disease since decades without considering its consequences, said Dr. Murtaza Mughal, President PEW.
He said that there is no facility to know or treat the mysterious disease in Pakistan which has claimed lives of hundreds of people and millions of mammals in the developed world.
Pakistan lifted the ban after thirteen years due to western pressure which is against the national interests, he added.

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Accountability of business leaders demanded

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The Pakistan Economy Watch (PEW) on Tuesday demanded accountability of the business leaders saying that economy cannot progress if people in important positions are not held responsible for thrie actions.
The power struggle among national business leaders to rule FPCCI is unfortunate which has resulted in uncertanity, it said.
The business leaders who were behind tens of millions of corruption in the construction of FPCCI capital office should come under inquiry, their assets must be scrutinised and they should be blacklisted, demanded Dr. Murtaza Mughal, President PEW.
He said that promotion of the economy can be ensured after free and equal representation of businesspersons in trade bodies most of whom have been held hostage by families, lobbies and groups of businessmen.

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Changes in power policy suggested

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The Pakistan Economy Watch (PEW) on Sunday suggested changes in National Power Policy 2013 terming it contrary to the national interests.
The policy needs immediate review as it will serve no purpose except jacking up electricity price and draining foreign exchange reserves, said Dr. Murtaza Mughal, President PEW.
He said that policy claims to provide affordable electricity and settle energy crisis by 2017 which the steps government has taken are in the opposite direction.
Government has decided to generate 16000 megawatt of electricity using imported coal ignoring hydel power and 185 billion tonnes of coal in Thar.
Moreover, power sector is still dominated by bureaucrats and the appointment of qualified and professional people on key posts remain a far cry.

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PEW demands separate lines for women on CNG stations

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The Pakistan Economy Watch (PEW) on Thursday demanded separate lines for women car drivers on the CNG outlets across Pakistan to provide them some relief.
Women are 52 percent of the population but few drive cars therefore it would not be difficult to provide them relief in getting environment friendly fuel, said Dr. Murtaza Mughal, President PEW.
He said that CNG industry prospered during dictatorship while democracy proved a bad omen for it.
CNG was available across Punjab for 168 hours a week during Musharraf ear, its availability was brought down to 72 hours in the PPP-led government.

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