Archive for July, 2016

PEW wants immediate construction of KBD

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Steps suggested to combat water scarcity
The Pakistan Economy Watch (PEW) on Sunday asked the government to initiate immediate construction of Kalabagh dam (KBD) so that Pakistan can remain a fertile country.
It called for settling disputes to construct mega projects without which future of the country and coming generations will remain bleak.
Demand and supply gas for water has reached alarming levels which will make Pakistan a desert in a decade if immediate steps were not taken, said Dr. Murtaza Mughal, President PEW.
Talking to Chairperson of IWCCI Committee on Trade and Industry Tabassum Anwar he said that unholy alliance between tanker mafia and water officials has resulted in closure of hundreds of factories in Karachi which should be noticed.

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Govt delayed privatization to win elections: PEW

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The Pakistan Economy Watch (PEW) on Sunday said government has stopped privatization programme to win elections are it cannot afford tough decisions at this juncture.
The decision is not only violation of the agreement with the IMF but it is also discouraging investors while keeping much-needed local and foreign investment away.
Government should have preferd to sell bleeding companies wasting trillions annually before disposing profitable ones to please allies, said Dr. Murtaza Mughal, President PEW.
Talking to Tabassum Anwar, Chairperson IWCCI’s standing committee on trade and industry, he said that foreign investment has already dwindled while reforms in the bleeding enterprises and appointing professional management remained unimplemented.

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PEW seeks more relaxations for textile sector

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The Pakistan Economy Watch (PEW) on Sunday lauded government’s move to provide facility of zero rating for the textile sector but termed it insufficient in the current scenario.
It asked the government for more relaxations so that Pakistan can regain its position in the international market.
Fourteen billion dollar textile industry which is playing critical role in the national economy is crumbling due to multiple reasons which need immediate government intervention, said Dr. Murtaza Mughal, President PEW.
He said that energy crisis, incoherent policies, regional competition, undue taxation etc. have taken toll on this industry providing jobs to 3.5 million people
He said that 57 percent exports are linked to textile industry, its share in manufacturing is 46 percent while it employs 38 percent of the urban labour.

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Steps demanded to improve energy efficiency: PEW

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Upgradation of energy infrastructure can boost production, exports
The Pakistan Economy Watch (PEW) on Friday said government is pushing many new energy projects but it should also focus on upgradation of existing infrastructure.
Ensuring energy efficiency can help Pakistan save thousands of megawatt of electricity, millions of litres of fuel and around 40 percent natural gas, resulting in cheap electricity, it said.
China is consuming double electricity than Japan for production therefore the leadership of the country is spending 1.6 trillion dollar to improve energy efficiency while it is being ignored in Pakistan, said Dr. Murtaza Mughal, President PEW.

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Economic indicators improving: PEW

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Additional taxes imposed due to falling exports
The Pakistan Economy Watch (PEW) on Sunday said economic indicators are improving while additional taxes have been imposed due to falling exports/
Economy is on growth trajectory which has infused confidence of investors and international institutions but pace of reforms must be accelerated, it said.
Government has focused attention on energy, expanding tax net, reforming PSEs, stabilising prices, currency and reducing deficit which is laudable, said Dr. Murtaza Mughal, President PEW.
He said that country was on the brink of default when PML-N came to power and changed the situation.

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