Archive for June, 2016

Steps demanded to combat climate change

Click here to View Printed Statement
The Pakistan Economy Watch (PEW) on Sunday demanded serious steps to combat threat of climate change which is poised to damage economy and hurt millions of people.
Climate change has become a great threat but concerned authorities seems not keen about it, said Dr. Murtaza Mughal, President PEW.
He said that climate change is to inflict more harm than any other problem but it is not a priority for the government which is busy in spending hefty amount on symbolic projects, he said.
Dr. Murtaza Mughal said that floods inflicting losses of trillions of rupees and leaving many homeless, melting glaciers, reducing water table, ill-timed rains and drought in some parts of the country is linked to climate change.

read more…

In: Economy WatchAuthor: AAMIR JAVEDComments (0)

Disagreement over mega dams resulting in huge losses: PEW

Click here to View Printed Statement
Government least bothered about water policy, strategy
The Pakistan Economy Watch (PEW) on Sunday said differences over construction of dams and lack of water storage capacity is inflicting an annual loss of 3.5 billion dollars to the national economy.
The dismal storage capacity of eight percent, water disputes and differences over mega dams has inflicted a loss of around 1.5 trillion dollars to the country in the last 45 years, he said.
Dr. Murtaza Mughal said that country will continue to brave losses as policymakers seems uninterested in a proper water policy and water strategy.

read more…

In: Economy WatchAuthor: AAMIR JAVEDComments (0)

Textile sector criticised for demanding devaluation of currency: PEW

Click here to View Printed Statement
Eroded rupee to hurt whole population
The Pakistan Economy Watch (PEW) on Sunday criticised textile sector for demanding devaluation of local currency to boost exports.
Eroded rupee to make imports costly which are double than exports and hut every person in Pakistan, it said.
The government has accorded zero-rating status to the textile sector in the budget, reduced export refinance rate by 0.5 percent and promised to pay refunds but the textile millers are asking for more which is unjustified, said Dr. Murtaza Mughal, President PEW.
He said that devaluation of the currency to spur exports is an old-fashioned idea which is contrary to the national interests therefore government should refuse the demand.

read more…

In: Economy WatchAuthor: AAMIR JAVEDComments (0)