Archive for February, 2015

Tajikistan to help Pakistan to overcome energy crisis: envoy

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ISLAMABAD: Ambassador of Tajikistan Sher Ali Jononov said his country was preparing to export sizeable quantity of electricity to Pakistan to lessen intensity of energy crisis, which has compromised economic growth.
He said his country wanted to enhance bilateral trade with Pakistan and invited business community to visit his country to explore investment opportunities and organise trade exhibitions.
Sher Ali Jononov meeting with Dr Murtaza Mughal President of Pakistan Economy Watch said Pakistanis were hardworking and highly gifted people and future of this country was very bright.
The energy sector of Tajikistan had been showing sustainable growth for the last 15 years transforming his country into world’s third largest producer of hydroelectric power after United States and Russia, he added.
Hydroelectric generation accounts for 76 percent of the total energy output of the country and the total estimated cost of the project which would lighten Pakistan through Tajik electricity has been estimated at $1.160 billion, which would be financed by World Bank, Asian Development Bank, Islamic Development Bank and other donors.

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Steps demanded to avert new global crisis

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Energy divestment seen as a threat
The Pakistan Economy Watch (PEW) on Monday said receded oil prices have a devastating effect on most of the oil and gas exporting countries which can transform into a new global crisis.
After hitting the balance sheets of energy exporters the oil prices have started threatening the ranking of oil and gas multinationals which has unnerved investors, said Dr. Murtaza Mughal, President PEW.
He said that the energy sector of many oil exporting countries on which they depend is crumbling resulting in cancelled and stalled energy projects as many projects fail to maintain break-even prices.

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Call to enhance penetration in global Halal market

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The Pakistan Economy Watch (PEW) on Sunday asked government to take steps to enhance Pakistan’s penetration in three trillion dollar global halal market in which its share is negligible despite potential.
Non-Muslim countries have dominated the halal market which is growing at the rate of 17 percent per annum while Pakistan halal exports can surpass textiles in five years if proper attention is paid, said Dr. Murtaza Mughal, President PEW.
In a statement issued here today, he said that out of all Pakistan’s meat exports 80 percent goes to Middle Eastern market which is not as regulated as that of USA and EU therefore it faces reduced threat of sanctions.
However, Pakistan meat exports to UAE is less than what Ethiopia exports to that country which is amazing, he said.

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Sindh govt silence over allegations of corruption amounts to confession: PEW

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ISLAMABAD: The Pakistan Economy Watch (PEW) on Sunday said the silence of Sindh Government over allegations of corruption in Health Department amounts to confession.
The top health officials are involved in exploitation of masses, law, exchequer, patients and local pharma industry for personal benefits while the Drug Registration Authority of Pakistan (DRAP) and Competition Commission of Pakistan (CCP) are also involved, it said.
Talking to business leader Dr. Shahid Rasheed Butt and others, Dr. Murtaza Mughal said that the Supreme Court must take notice of the issue which has raised concerns among the masses.
He said that allowing a defamed Swiss pharmaceutical to play with the lives of hepatitis patients and hurting local pharmaceuticals is dishonesty. Terming the local pharmaceutical products as substandard is mala fide as their quality has never been challenged by the competent authority.

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2015 highly critical for world gas market

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The Pakistan Economy Watch (PEW) on Tuesday said ongoing year is very important for the unstable global gas market which will see a host of challenges including demand-supply issues.
The decision taken by Russia, Canada, Australia, US, EU, Mozambique, Tanzania and oil exporting countries will shape the future of the international gas market, it said.
Energy importing countries including Pakistan should make necessary preparations to effectively forecast and tackle the upcoming issues in their national interest, said Dr. Murtaza Mughal, President PEW.
He said that consumption of gas in Asia will surpass all other regions which is projected to hit 1.2 trillion cubic meters from current 720 tcm.
Keeping in view the increasing demand Russia has stepped into lucrative Asian market despite financial problems, receding prices and international sanctions, he added.

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World entering into new era of energy: PEW

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ISLAMABAD: The Pakistan Economy Watch (PEW) on Sundaysaid a new energy landscape is unfolding before us with exciting prospects which calls for extra caution for policymakers. A mistake of judgment at this critical juncture can result in heavy price for the economy and nation, said Dr. Murtaza Mughal, President PEW. He said that all the oil importing countries are happy over reduction in oil prices including Pakistan which is also questing after import of LNG.
But, he said, government shouldn’t ignore critical sectors of energy like coal, solar, wind, and nuclear power as uncertainty looms over oil and LNG markets.
Dr. Murtaza Mughal said that the demand-supply gap in the LNG market has tilted in favour of buyers who are now dictating terms which is not a positive sign for producers.
Despite slump, the global LNG supply would get a boost of 10 percent during ongoing year and a 30 percent jump within five to seven years, he informed.
He said that oil price collapse has left many fracking, deep sea and other oil extraction projects economically unviable which will have an impact on situation in the long run.

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LNG prices down by 65pc in one year: PEW

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ISLAMABAD: The Pakistan Economy Watch (PEW) on Tuesday said China has emerged as last hope to stabilise international LNG market as prices have come down by 65 per cent in one year.
China can help disappointed LNG producers by reversing the domestic price hike for natural gas and expedite conversion of power plants on LNG
to reduce pollution, said

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Oil price collapse hitting int’l LNG market

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Abbasi better choice despite petrol crisis
The Pakistan Economy Watch (PEW) on Sunday said oil price slide up to unprecedented sixty percent and concerns regarding future prices has started hurting international LNG market.
LNG prices were hovering around 20 dollars per mmbtu in 2014 but now it is at $7.45, the prices have reduced by 50 percent in the last four months, it said.
The fall in the LNG prices have added to the problems of investors resulting in stall or delayed projects while narrowing price gas has pushed USA out of the thriving Asian market, said Dr. Murtaza Mughal, President PEW.
Several high-cost gas projects launched by oil and gas giants have hindered or be altered due to weakening prices, he added.

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