Archive for May, 2017

Chinese economic model to replace western model soon: PEW

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Globalisation has failed to improve the world
The Pakistan Economy Watch (PEW) on Sunday said the theory of globalisation has failed as more and more countries are preferring protectionism over free market economy.
Chinese economic model which is not based on exploitation will soon replace western model which is based on exploitation, it said.
The One Belt One Road Project of which CPEC is an important component is the beginning of end of western dominance, said Dr. Murtaza Mughal, President PEW.
He said that globalisation has failed to achieve objectives like eradicating poverty while it worsened the problem by throwing world into acute crisis, he added.
Dr. Murtaza Mughal said that globalization failed to increase integration and interdependence of national, regional and local economies.

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Worries expressed over growing circular debt: PEW

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The Pakistan Economy Watch (PEW) on Wednesday expressed apprehension over rising circular debt which is to compromise growth and hit masses with power outages in the summer.
Circular debt has become a big threat to the image, credit rating and economic survival of the country which merits urgent attention, it said.
Dr. Murtaza Mughal, President PEW said that circular debt is hitting industrial expansion, investment in Thar coal and other energy projects and pushing away investors.
Circular debt worth Rs414 billion has reduced power generation by private sector leaving them unable to but fuel to run power plants of repay bank loans which masses are suffering from heat.

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Food being wasted despite hunger in Pakistan: PEW

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The Pakistan Economy Watch (PEW) on Sunday said despite severe problem of food security tonnes of food is daily wasted in the country.
Government should ensure proper storage facilities and food waste management system in the country to overcome losses, it said.
Food is wasted in all the countries of the world which if saved through intervention can eradicate hunger from the globe, said Dr. Murtaza Mughal, President PEW.
He said that food grown over 1.4 billion hectares, an area larger than China, is wasted annually which also lay waste to all the investment.
He said that wastage of food also waste all efforts and around 250 cubic kilometres of water stoking global food insecurity and hunger.

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Govt should pay attention to hydel power: PEW

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Dysfunctional power sector damaging econom
yThe Pakistan Economy Watch (PEW) of Tuesday said government should pay proper attention to the hydel power projects that generate cheap electricity.
Power plants using imported fuel generate costly electricity which fluctuations in the oil prices results in miseries of the masses, it said.
The energy sector has become dysfunctional because of the apathy of the successive government since Musharraf times, said Dr. Murtaza Mughal, President PEW.
He said that energy crisis in Pakistan is result of decades of indifference and it cannot be resolved any time soon and it will continue to damage masses and the economy.
He said that dysfunctional power sector continue to deprive 35 percent of population of grid electricity while the 65 percent have been facing loadshedding.

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Falling exports can result in another IMF loan: PEW

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Currency should not be devalued to support exports
The Pakistan Economy Watch (PEW) on Sunday said exports, investment and remittances continue to fall hitting forex reserves which will result in another IMF loan.
Continued fall in exports since three years despite efforts of the government and private sector will result in lost export markets, it said.
Exports are falling while imports have gone out of control due to liberal import regime which is creating serious problems for economy, said Dr. Murtaza Mughal, President PEW.
The export officials waste time and money and later blame energy crisis to absolve themselves of all the responsibility, he added.

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Thar coal best solution to overcome energy crisis: PEW

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Differences over KBD in Indian interest
The Pakistan Economy Watch (PEW) on Monday said Thar coal is the best and cheapest solution to overcome chronic energy crisis in the country.
Difference over Kalabagh dam are against the national interests and in the interest of India that wants to destabilise Pakistan, it said.
Thar coal is the most economical solution for ensuring energy security therefore it should be exploited and Chinese involvement should be enhanced, said Dr. Murtaza Mughal, President PEW.
He said that extra attention should be paid to exploit the treasure buried in Thar as the economy continue to suffer due to power outages.
Dr. Murtaza Mughal, President PEW said that Thar cola can ensure energy security, help cut oil import bill, earn forex reserves and provide jobs to millions of unemployed.

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