Archive for March, 2017

Local prices of petroleum products more than international market: PEW

Click here to View Printed Statement
Fuel prices can be reduced if FBR start targeting nobility
The Pakistan Economy Watch (PEW) on Sunday said prices of petroleum products in the country are far more than the international market which is hurting masses and every segment of the economy.
Petroleum prices can be reduced if FBR starts taxing nobility which will automatically reduce pressure on the poor masses, it said.
Government has no other option but to heavily tax the petroleum imports which is chocking the economic growth, said Dr. Murtaza Mughal, President PEW.
He said that all the important petroleum products are attracting double digit taxation which has penalised the masses. Situation can take a positive turn if corruption is reduced in the tax administration.

read more…

In: Economy WatchAuthor: AAMIR JAVEDComments (0)

Water scarcity a big threat to Pakistan: PEW

Click here to View Printed Statement
The Pakistan Economy Watch (PEW) on Sunday said water scarcity is emerging as a grave threat to the survival of the country but policymakers seems to be unconcerned.
Pakistan is facing an acute water shortage and may hit masses, agriculture and industry soon, it said.
In last few years the defence budget has been significantly increased to combat terrorism ignoring the fact that water scarcity could be a bigger menace than terrorism, said Dr. Murtaza Mughal, President PEW.
In a statement, he said that our country touched the “water stress line” in 1990 and crossed the “water scarcity line” in 2005 but it was not enough to draw attention of the policymakers.
Dr. Murtaza Mughal said that if steps were not taken to combat the situation country is likely to face drought-like situation in the near future.

read more…

In: Economy WatchAuthor: AAMIR JAVEDComments (0)

Gas companies plundering poor to benefit rich: PEW

Click here to View Printed Statement
Ogra fulfilling objectives of stock brokers illegally
The Pakistan Economy Watch (PEW) on Wednesday said gas companies are punishing masses with the help of Ogra by charging masses for the losses during gas distribution and theft.
Ogra has allowed gas companies to charge masses for 4.5 percent of their losses but now the companies are trying to push up the ratio of losses to nine percent to generate more profit for their shareholders, it said.
Ogra has become a tool in the hands of some of the directors of the gas companies who are also influential stockbrokers, said Dr. Murtaza Mughal, President PEW.
In a statement issued here today, he said that gas companies should reduce corruption and stop penalising masses for their mismanagement.

read more…

In: Economy WatchAuthor: AAMIR JAVEDComments (0)

Poor man’s sector need government’s attention: PEW

Click here to View Printed Statement
The Pakistan Economy Watch (PEW) on Sunday said government should focus on the agricultural development and the poor man’s sector should not be allowed to fall prey to profiteers.
Among all the main sectors of the economy, agriculture is the most neglected in terms of investments and development therefore farmers are among the poorest people in the country, it said.
of farmers who make a living by generating most of the country’s food supply and not supported to come out of the poverty, said Dr. Murtaza Mughal, President PEW.
said that agriculture is one of the “real” sectors to which the society’s poorest belong but it has been ignored for long time.
contribution to the economy has continued to dwindle due to unequal distribution of investments which is one of the biggest mistakes of the successive governments, he said.

read more…

In: Economy WatchAuthor: AAMIR JAVEDComments (0)

FBR harassing business community: PEW

Click here to View Printed Statement
Govt planning to introduce mini budget to cut deficit
The Pakistan Economy Watch (PEW) on Sunday said that FBR is harassing honest taxpayers to meet the revenue target which should be noticed.
The tax authorities should be chasing those who enjoy princely lives and avoid paying any tax, it said.
Government is planning to introduce mini budget to fill the revenue gap which will be unfortunate, said Dr. Murtaza Mughal, President PEW and his Senior Vice President Kashif Iqbal Gondal.
They said that mini budget will hit businesses, masses and the tax structure which is already working against the desire of the stakeholders.

read more…

In: Economy WatchAuthor: AAMIR JAVEDComments (0)