Archive for July, 2017

Promoting handicrafts can lift millions out of poverty: PEW

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The Pakistan Economy Watch (PEW) on Sunday called upon the authorities to support the ignored sector of handicrafts which can help lift millions out of poverty.
Pakistan can generate handsome amount of foreign exchange by promoting handicraft sector which is mainly concentrated in the province of Sindh however other provinces cannot be ignored, it said.
The government can promote this sector while private sector should invest in the handicrafts industry and turn it into a lucrative and profitable sector, said Dr. Murtaza Mughal, President PEW.
He said that there is a great demand for locally made handicrafts in the international market, therefore, this sector should be promoted which is directly linked with the skilled women.

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Education no more an attractive profession for teachers: PEW

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Low-quality teachers a threat to society, economy
The Pakistan Economy Watch (PEW) on Sunday said education is no longer an attractive profession for teachers which is a threat to the country.
Teachers suffer from general lack of respect and bad questionable working conditions which has forced many to opt for other profession resulting in increased gap in demand and supply which is a threat to country’s future, it said.
The state-run education has become dysfunctional while private institutions continue to exploit teachers more profit, said Dr. Murtaza Mughal, President PEW.
Contrary to the business world the education and academic workforce enjoy very limited opportunities with no chance of changes on the horizon, he added.

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IMF has added to the miseries of the third world: PEW

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IMF has always helped corrupt to hide stolen funds
The Pakistan Economy Watch (PEW) on Sunday said IMF has added to the miseries of the third world and helped transfer their wealth to the west.
The policies of the international lending institutions are not short of financial terrorism pushing developing countries to bankruptcy to achieve unholy designs of the western nations, it said.
Many countries are reeling under pressure despite getting billions of dollars in loans while some have been bankrupted due to negative policies of the lending institutions that prefer objectives of the US and some European countries over everything, said Dr. Murtaza Mughal, President PEW.

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Importance of Corporate Social Responsibility

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Claims of economic development questioned

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Karachi Traders Alliance on Tuesday questioned claims of the government regarding economic development terming it an eyewash.

Production, exports, exchange rate and production continue to fall while the country is progressing in slogans, crimes, uncertainty and acquiring loans, said Ayaz Memon Motiwala, Chairman of Karachi Traders Alliance.
He said that reports of State Bank of Pakistan regarding economy are not based on facts but a deception which is against professional ethics.
Talking to Dr. Murtaza Mughal, President Pakistan Economy Watch, he said that trade deficit for the current fiscal will swell to 33 billion dollars while foreign exchange reserves are down by three billion dollars.
Mr. Motiwala said that reasons behind record trade deficit include falling exports, increased imports, want of enabling laws and energy crisis.

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Weakness of agriculture policies highlighted: PEW

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The Pakistan Economy Watch (PEW) on Sunday said the country is spending billions of dollars on the import of agricultural products which indicate the want of enabling policies.
Pakistan can save billions of dollars annually by encouraging domestic agricultural sector which is in a shamble, it said.
We are spending over two billion dollars on the import of edible oil only which can be saved if domestic production is promoted, said Dr. Murtaza Mughal, President PEW.
Over two million tonnes of annual edible oil imports costs around $ 2.4 billion making it second largest import after petroleum products, he added.
Dr. Murtaza Mughal said that that proper farming, production, processing and marketing will not only reduce dependence on imports but also help earn foreign exchange.
He said that despite being an agrarian economy we are unable to produce sufficient edible oil which leads us to spend a substantial amount of foreign exchange at a time when country badly needs it.

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