Archive for August, 2016

Nobility misusing cheap agri credit: PEW

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Agri sector cannot be left on the mercy of dishonest
The Pakistan Economy Watch (PEW) on Sunday said landed nobility continue to misuse cheap agricultural credit which is barring growth of this vital sector.
As the banks pour more money in the agricultural sector the output reduces which proves misuse of loans by some major borrowers, it said.
Last year banks disbursed Rs598.3 billion as loans against the target of Rs600 billion among 2.4 million farmers but it failed to boost output, said Dr. Murtaza Mughal, President PEW.
He said that loan disbursement remained sixteen percent higher than 2014-15 while the number of borrowers also grew by two hundred thousand but it has failed to have an impact on the sector due to mismanagement.

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FM’s move to regulate real estate market welcomed: PEW

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Decision will significantly reduce size of black economy
The Pakistan Economy Watch (PEW) on Sunday praised the Finance Minister Ishaq Dar for taking steps to regulate the realty market which will help government raise billions of rupees and increase the size of documented economy.
The decision is being resisted by the majority of the business community which amounts to help tax cheats as it will convert a good part of the informal economy to the formal one which is in the larger national interest, it said.
The Pakistan’s real estate sector has become a save heaven for the corrupt bureaucrats, politicians, criminals, terror financing and crook businessmen, said Dr. Murtaza Mughal, President PEW.
He said that the formal economy is shrinking since decades while the informal economy has been expanding over time and now it is bigger than the formal one.

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Govt asked to improve food security situation: PEW

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Food insecurity grave threat to national security
The Pakistan Economy Watch (PEW) on Sunday expressed reservations over government response to the looming food security threat.
It demanded increased investment to ensure food security for whole population many of whom are finding it difficult to get adequate food while the situation of food security in Pakistan has deteriorated since 2003.
Government must have full details of food security situation so that policymakers can plan on the basis of ground realities as food insecurity anywhere, threatens peace everywhere, said Dr. Murtaza Mughal, President PEW.
He said that global agricultural production must be enhanced by 50 percent by 2050 to feed nine billion people, as majority of world’s poor and malnourished lives in Saarc region.

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