Archive for November, 2016

Export sector becomes white elephant: PEW

Click here to View Printed Statement
Exporters addicted to subsidies, bailout packages
The Pakistan Economy Watch (PEW) on Thursday said the export sector has been relaying on government’s aid since long since becoming a burden.
The export industry has long been addicted to bailout packages, subsidies, tax breaks and other measures which put burden on the national exchequer to the tune of billions per annum, it said.
A little reduction in the government’s aid result in loss on the external front as export sector has never tried to become self-reliant or switch to value-addition, said Dr. Murtaza Mughal, President PEW.
In a statement issued here today, he said that export sector is facing some problems but it should try to stand on its own feet. read more…

In: Economy WatchAuthor: AAMIR JAVEDComments (0)

PEW welcomes widening trade deficit

Click here to View Printed Statement
Deficit sign of investment in CPEC
The Pakistan Economy Watch (PEW) on Sunday welcomed widening trade deficit terming it a sign of heavy investments in the economic corridor which is a fate-changing project.
The situation will change after Pakistan start receiving return on investment in the economic corridor, it said.
Trade deficit swelled to 1.76 billion in the first four months of the current fiscal which was 1.08 billion in the corresponding period. The 63 percent jump in the deficit in due to falling exports, increased imports and outflow of money required to buy machinery for CPEC, said Dr. Murtaza Mughal, President PEW.
In a statement issued here today, he said that this is for the very first time in the history of Pakistan that trade deficit which is bound to put pressure of balance of payments situation is a welcome development.

read more…

In: Economy WatchAuthor: AAMIR JAVEDComments (0)

India damaging Pakistan’s industrial base: PEW

Click here to View Printed Statement
Pakistani products retreating in international market
The Pakistan Economy Watch (PEW) on Sunday asked the government to take note of the unholy designs of India which is now damaging our industrial base to bankrupt country.
India is bent upon destroying our textile sector which the backbone of economy which must be noticed, it said.
Dr. Murtaza Mughal, President PEW, said that New Delhi is India is working on a strategy to damage Pakistan beyond repair after damaging Kalabagh dam project and initiating water terrorism.
He that India has been targeting economic corridor and now it has started industrial terrorism to damage Pakistan’s textile sector which shouldn’t be allowed. read more…

In: Economy WatchAuthor: AAMIR JAVEDComments (0)

IMF, WB reports on economy distressing: PEW

Click here to View Printed Statement
Wider than expected budget deficit expected
Broadened tax net to help reduce trade deficit

The Pakistan Economy Watch (PEW) on Saturday said reports of International Monetary Fund (IMF) and World Bank (WB) about Pakistan’s economy are disturbing.
It asked the government to take steps to revive economy as exports, investment and remittances continue to fall threatening wider than expected budget deficit.
The multilateral lenders usually issue encouraging reports using highly diplomatic language but they also point towards serious issues between the lines, said Dr. Murtaza Mughal, President PEW.
He said that the latest reports about Pakistan indicates that things are moving in the right direction and growth is picking up which is expected to touch mark of 5.4 percent after half decade.

read more…

In: Economy WatchAuthor: AAMIR JAVEDComments (0)

Call to tackle gas sector circular debt: PEW

Click here to View Printed Statement
Steps demanded for successful energy policy
The Pakistan Economy Watch (PEW) on Sunday asked the government to tackle gas sector circular debt before it put a question mark on the success of the energy policy.
He expressed concern over the gas sector circular debt that has touched the mark of Rs 12 billion.
The debt should be contained before it damage the gas sector like it has played havoc with the electricity sector, said Dr. Murtaza Mughal, President PEW.
He said that country is already faced with circular debt of Rs 650 billion and now Rs 12 billion of gas debt has added to it creating more uncertainty.
Government is buying LNG since April 2015 and such losses in a short span are not acceptable, he said, adding that the government has assured IMF that circular debt will be controlled but it couldn’t.

read more…

In: Economy WatchAuthor: AAMIR JAVEDComments (0)