Archive for October, 2014

LNG policy to affect every feature of economy: PEW

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Gas revolution taking place in Pakistan
The Pakistan Economy Watch (PEW) on Thursday said energy mix of Pakistan is being transformed in Pakistan which will have a positive impact on every sector or the economy.
The recently-introduced LNG policy is radically distinctive which will help balance energy mix, reduce dependence on oil and transform lives of millions of people while reducing inflation, oil import bill and pollution, it said.
Availability of LNG is set to grow but may not rise as fast as millions of consumers including operators of CNG stations would hope, said Dr. Murtaza Mughal, President PEW.
Ha said that LNG offers a clean as well as reliable alternative to coal, costly petrol, it is answer to the shortages of natural gas and its advantages as a transportation fuel are stronger than ever.

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Lack of access to credit keeping Pakistan underdeveloped

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PEW calls for improved collateral laws, proper implementation
Reforms, reduced legal constraints to credit expansion demanded

The Pakistan Economy Watch (PEW) on Sunday said lack of access to credit is on the key factor keeping Pakistan underdeveloped.
Like many other developing countries, private sector in Pakistan is facing problem of insufficient collateral which has restricted its access to loans, it said.
Some banks in country would prefer to lend against real estate discounting other assets like machinery or inventory which sometimes worth more than land, said Dr. Murtaza Mughal, President PEW.
In a statement issued here today, he said that assets of a company other than land should not be considered as dead capital that can only be used for production.
Assets other than property like goods etc. have the debt capacity that must be utilised by lenders to give a boost to economy, he said.

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PEW demands enhanced focus on nuclear energy

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The Pakistan Economy Watch (PEW) on Sunday demanded of the government to magnify its focus on construction of nuclear power stations, the second cheapest source of energy.
Pakistan is facing great difficulties in construction of dams; it should try to overcome obstacles but at the same time establish more nuclear power stations to counter energy crisis which has compromised growth, it said.
Some politicians have transformed technical issue of Kalabagh dam into a political issue and connected it to integrity of Pakistan which is unfortunate, said Dr. Murtaza Mughal, President PEW.
Similarly, he said, pace of progress on Diamer-Bhasha dam, contemplated in 2006 remains highly unsatisfactory.
Pakistan cannot raise US$14 billion for construction of the Diamer-Bhasha dam, WB and ADB have stopped funding of the dam to please India while US is supporting the project in statements only, he added.

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Property sector can attract massive local, foreign investment

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The Pakistan Economy Watch (PEW) on Friday asked the government to streamline the property sector so that it can attract massive local and foreign investment.
Pakistan urgently needs to draw advantage from the Asian property boom led by China through urgent reforms and transparency, it said.
Real estate deals in China and other Asian nations reached a record $34 billion in the last quarter but Pakistan could not attract any such deal due to lack of proper rules and regulations, security and other issues, said Dr. Murtaza Mughal, President PEW.
Not a single Pakistan city is listed among the top destinations for commercial property investments in Asia that attracted over 82 billion dollars in one year which is disappointing, he said.

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Govt claim about doubling up exports questioned

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The Pakistan Economy Watch (PEW) on Wednesday said Government’s claim to double exports in three years’ time is highly exaggerated.
The Federal Commerce Minister recently said that Government is to introduce reforms in the next budget to lift exports by 100 per cent until 2018 is idealism and contrary to the ground realities, it said.
Textile sector is the largest foreign exchange earner for the country that is mostly located in Punjab and remained inoperative because of energy shortages, said Dr. Murtaza Mughal, President PEW.
He said that Pakistan’s main exports include cotton and knitwear (28 percent of total exports); bed wear, carpets and rugs (8 pc), rice (8 pc) and leather, fish, sports goods and fruits and vegetables which cannot be doubled in absence of a political will.

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