Archive for May, 2015

FM’s remittances decision lauded: PEW

Click here to View Printed Statement
FBR plan would have landed economy in trouble
Remittances should be encouraged to $25 billion

The Pakistan Economy Watch (PEW) on Sunday lauded the Finance Minister Ishaq Dar for rejecting the proposal of FBR to slap withholding tax on foreign remittances which could have a ravaging effect on the economy.
FBR proposal to bring remittances in the tax net would have harassed the expats who send around 16 billion dollars to Pakistan annually keeping current account deficit under control, said Dr. Murtaza Mughal, President PEW.
He said that absence of remittances could jack up deficit from the current 1.5 billion dollars to 17 billion dollars which will push country to default therefore overseas Pakistanis should not be harassed.

read more…

In: UncategorizedAuthor: Comments (0)

PEW terms GIDC economically devastating; Gas cess to devastate masses, industry

Click here to View Printed Statement
ISLAMABAD: The Pakistan Economy Watch (PEW) on Thursdaytermed Gas Infrastructure Development Cess (GIDC) a ruthless attack on masses, industry and agriculture. It is an economically devastating move which will trigger inflation, uncertainty while benefits would be reaped by an influential industrial group, it said.
The masses, farmers, textile and fertiliser sectors would be hit by the move while it would result in increased electricity prices, said Dr. Murtaza Mughal, President PEW.
No new gas project has been included in the PSDP therefore a part of the money collected under this new head could benefit influential board members of the Sui companies, he feared.

read more…

In: UncategorizedAuthor: Comments (0)

India blamed for low intra Saarc trade volume: PEW

Click here to View Printed Statement
The Pakistan Economy Watch (PEW) on Sunday blamed India for low volume of trade within Saarc region which has kept millions below the poverty line.
India wants to domine the region so that all the countries become satellite states which is biggest hurdle in improving trade and standard of living of people living in this region, said Dr. Murtaza Mughal, President PEW.
He said that India is the biggest and most irresponsible economy in the region forcing businessmen of India and Pakistan to use third country for trade which jacks up cost y around 35 percent.
He said that Pakistan has always supported and encouraged the regional cooperation but it has not helped take bilateral trade to desired level due to negative Indian attitude.

read more…

In: UncategorizedAuthor: Comments (0)

Govt investment policies matchless

Click here to View Printed Statement
Western media failed to deter Chinese investors
The Pakistan Economy Watch (PEW) on Sunday said Pakistan offers best investment-friendly and incentives-driven policies offering limitless opportunities to foreign investors.
Foreign investors shouldn’t let propaganda scare them away from exploring enormous investment potential in energy, oil and gas, coal, infrastructure, communication, telecom, agriculture and dairy development, it said.
Pakistan offers over 180 million consumers, fully convertible currency, unrestricted equity, profit repatriation, no double taxation and attractive tax breaks which has so far lured 600 multinationals, said Dr. Murtaza Mughal, President PEW.

read more…

In: UncategorizedAuthor: Comments (0)

Power struggle in FPCCI divides businessmen

Click here to View Printed Statement
Power struggle in FPCCI divides businessmen
The Pakistan Economy Watch (PEW) on Friday said power struggle in the FPCCI has effected work, polluted environment and disunited businessmen.
The struggle between president FPCCI and another leader considered de facto president by many has been intensified which has divided business leaders into groups which is felt across all the chambers of country, said Dr. Murtaza Mughal, President PEW.
Some business leaders allege that seniors are being ignored in the decision making process while junior yes-men are preferred by the leaders of United Business Group (UBG), the group ruling FPCCI.
The disheartened businessmen have started meeting the rebels of UBG and those belonging to Businessmen Panel which ruled FPCCI for decades.

read more…

In: UncategorizedAuthor: Comments (0)