Archive for November, 2015

Improved railway needed to support economic corridor project: PEW

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Transit facility to help transform railways, earn foreign exchange
The Pakistan Economy Watch (PEW) on Sunday said railways should be improved to enable it to support economic corridor project which is a game changer.
Railways must swing to profit through reforms and private sector driving eight percent of the national economy should be lured to it through incentives, it said.
There are private public and goods transport services and private airlines in the country therefore there is no harm in running private passenger and freight trains in Pakistan, said Dr. Murtaza Mughal, President PEW.
He said that the department of railways is nose-diving since long, 39 percent of the budget goes to salaries, 26.7 percent is consumed by pensions and 19.4 percent is utilised to buy fuel. Rest is used for maintenance and repair as well as miscellaneous expenses.

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Land route to India, Afghanistan termed suicide: PEW

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The Pakistan Economy Watch (PEW) on Thursday said giving land route to India or Afghanistan for trade would be suicidal as both countries would fan terrorism in Pakistan to destabilise it.
National security cannot be sacrificed for the regional connectivity as India and Afghanistan have always tried to destabilise Pakistan, said Dr. Murtaza Mughal, President PEW.
Land route to India or Afghanistan can fan terrorism in Pakistan and lay waste to sacrifices of masses and armed forces, he added.
Dr. Murtaza Mughal said that both of the neighbouring countries are trying to give new lease of life for terror outfits dying because of military operation led by Gen Raheel.

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Resources being plundered in the name of resolving energy crisis: PEW

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Conflicting statements confusing topic of Nandipur power plant
Contract awarded to a banned firm during Musharraf’s era
The Pakistan Economy Watch (PEW) on Tuesday said perpetual energy crisis has provided a golden opportunity to some elements to plunder national resources in the name of settling the crisis.
Conflicting statements of top officials on the issue is not clearing the situation but adding to the confusion, said Dr. Murtaza Mughal, President PEW.
He said that contract was awarded to a banned Chinese firm during Musharraf’s era but no one has bothered to include him in the inquiry.
Now the incumbent government is facing a difficult choice as operationalization of the power plants will burden national exchequer by Rs30 billion annually.

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Record fall in foreign investment hitting image of country: PEW

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Rupee erosion sets record despite ample forex reserves
The Pakistan Economy Watch (PEW) on Wednesday expressed concern over record fall in foreign investment which is damaging image of the country.
Foreign exchange reserves are at record level but rupee has lost 4.5 percent in the current fiscal making a record fall which is amazing, said Dr. Murtaza Mughal, President PEW.
He said that foreign investment has seen a drop of 67 percent in two months of July and October which proves that foreign investors are not impressed with the media management of the authorities and IMF.
Dr. Murtaza Mughal said that rupee has eroded a lot putting extra pressure on masses but the central bank is blaming media for it which indicates increasing irresponsibility and politics in the institution.

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Once vibrant telecom industry dying slow death: PEW

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Once vibrant telecom industry dying slow death
The Pakistan Economy Watch (PEW) on Sunday said once vibrant telecom industry of Pakistan is dying a slow death due to excessive burden of taxes.
Telecoms sector has undergone a sharp downturn over the past year, with revenue from mobile falling by 1.8 percent and a dramatic drop in direct foreign investment, it said.
DFI plummeted by 72 percent to $121 million for the fiscal year ending June 30th, while the telecoms industry contributed 50 percent less in taxes compared to the previous year which were Rs126 billion, down from Rs243 billion, said Dr. Murtaza Mughal, President PEW.
He said that biometric subscriber verification that resulted in overall connection numbers dropping by 18 percent. At the end of the fiscal year, a total of 114.7 million subscribers remained down from 140 million in FY14.

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Exchange rate loss against national interests: Murtaza Mughal

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ZAB nationalisation policy was a mistake: Sajid Mir
Billions should not be spent to keep sluggish industries alive

Ameer of Markazi Jamiat Ahle Hadith Senator Prof. Sajid Mir has said that nationalisation policy of Zulfiqar Ali Bhutto was wrong that inflicted heavy losses on the economy.
All the units nationalised during that regime must be privatized while government should not spend billion on monthly basis to keep loss-making entities alive. Rather that money should be spend on the welfare of masses.
Prof. Sajid Mir said this while talking to Dr. Murtaza Mughal, President of the Pakistan Economy Watch (PEW).
He said that institutions that are kept alive artificially should be sold forthwith and money should be used for welfare and infrastructure development to boost the economy.

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Health budget being misused in Sindh: PEW

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Population and child mortality increasing in the province
The Pakistan Economy Watch (PEW) on Tuesday said health budget is being misused in Sindh which has resulted in increased child mortality.
The Infant Mortality Rate has increased from 74 per thousand live births in 2012 to 82 per thousand live births in 2014, which is alarming, it said.
Mortality in children under five years of age has increased from 92 per thousand live births to 104 which speak of the dismal healthcare situation in the province where rural areas are among the worst hit, said Dr. Murtaza Mughal, President PEW.
Talking to a delegation of developmental specialists led by Nasir Wajahat, he said that two hundred children die in Sindh every day before reaching their first birthday, while sixty percent of the above die before completing the first month after their birth.

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Automakers exploiting masses since decades: PEW

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Govt protection left auto industry inefficient
The Pakistan Economy Watch (PEW) on Sunday said automakers continue to exploit masses since decades by providing substandard vehicles on inflated rates.
The authorities prefer to ignore the plunder in the name of protecting local industry which is abused of the rights of consumers, said Dr. Murtaza Mughal, President PEW.
Government continue to discourage fair competition in the auto sector which has stopped the development of auto assemblers in Pakistan, he added.
Dr. Murtaza Mughal said that auto assemblers are left with no incentive to invest in research and development, introduce new technology, or change primitive engines which is the reason that a decade oil cars in other countries are better than newly introduced models in Pakistan.

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