Pakistan Economy Watch

Calls for reviving public sector enterprises

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The Pakistan Economy Watch (PEW) on Sunday said Government can change the fate of people of Pakistan but revitalising loss-making public sector enterprises.
All autonomous organisations are incurring heavy financial losses and facing serious financial crisis because of political interference, mismanagement, inefficiency, financial ill discipline and over-staffing, it said.
These state-run institutions have become a big burden on the national resources and privatization process is admission of the fact by the government that it cannot bring them to profit, said Dr. Murtaza Mughal, President PEW. read more…

Latest German cement plant inaugurated

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Fauji Cement hikes production capacity by 200 per cent
Absence of support to cripple cement sector: Murtaza Mughal
To meet the future challenges and demand, Fauji Cement Company Limited (FCCL) has installed country’s biggest single unit plant to enhance production capacity by almost 200 per cent.
FFCL, the No.1 company by capacity utilization of 90.67 per cent against an overall average of 71.65, use to produce 3885 Metric Tonnes (MT) of cement per day but now it is producing 11560 MT.
We have invested Rs 20 billion to purchase state-of-the-art plant from Polysius (ThyssenKrupp) Germany while all other items including electrical equipment, packing plant, vertical cement mills have been imported from Switzerland and other developed nations, said Brigadier Muhammad Sarwar, SI (M), TBt, (Retd). read more…

Govt hit masses with CNG bomb on new fiscal

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Rulers continue to punish masses for their mismanagement, corruption
The Pakistan Economy Watch (PEW) on Friday said government has hit masses hard with CNG bomb on the eve of new financial year.
Government is to punish the masses for their inefficiency, mismanagement and corruption by hike in the domestic and commercial gas tariff soon, it said.
The decision to keep CNG filling stations closed for two days in Sindh and for three days in Punjab is a politically motivated move aimed at settling score with opposition and gaining cheap popularity which will hurt harmony between provinces, said Dr. Murtaza Mughal, President PEW.
He said that government continue to inflict punishment on masses for choosing democracy. Poor will continue to pay the price for blunders by the rulers and mismanagement of natural resources, he added.

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