Pakistan Economy Watch (PEW)

Anti-encroachment operation enhanced Govt credibility: PEW

The operation has broken the back of influential, big fish
The Pakistan Economy Watch (PEW) on Tuesday said nationwide anti-encroachment has added to the credibility of the government.
The operation has broken the back of the qabza mafia as dozens of commercial buildings, filling stations, shops, marquees, restaurants, and other unauthorized structures have been demolished, it said.
The situation in many cities has improved, influential, big fish and encroachers have been demoralised, while government property worth tens of billions of rupees has been retrieved, said Chairman Brig. Muhammad Aslam Khan (Retd).
He said that government needs to intensify the operation and prefer clearing Islamabad of all the encroachments to make it a model city.
Commercial buildings have been built on the plots reserved for cinemas, swimming pools and clinics in the CDA’s master despite the fact that CDA bylaws disallow any commercial activity on plots kept for cinemas, swimming pools, and clinics, he added.
Brig. Muhammad Aslam Khan said that the government should bring to book the elements who usurped the right of entertainment of the people by greasing the palms of concerned officials.
At the occasion, Dr. Murtaza Mughal said that some people also purchased cheap plots in the industrial area and illegally converted them into plazas, educational institutions, hostels, offices, shops, showrooms, godowns and wedding halls.
Dozens of plazas were constructed in Golra which were shown as constructed in Sector E-11 to deprive masses of their hard earned income worth billions while no action was taken against them.
The calls of masses looted by builder mafia should not fall on deaf ears and operation should continue, he demanded.
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PM Imran’s China visit to stabilise Pak economy: PEW

Beijing can help IMF relax loan conditions for Pakistan
Chinese industry should be relocated to Pakistan to avoid US sanctions
The Pakistan Economy Watch (PEW) on Sunday said the upcoming visit of Prime Minister Imran Khan can result in various deals which will help stabilize our troubled economy.
The US has started a cold war against China, it is pressurizing Pakistan, using India against China and Pakistan and damaging global economic order, it said.
In the given scenario, Pakistan and China need each other to confront threats which is only possible when Islamabad is backed by a stable economy, said Dr. Murtaza Mughal, President PEW.
The outcome of the visit of PM Khan could be new deals worth billions of dollars, a package to improve the balance of payments crisis while Beijing can also help IMF relax loan conditions for Pakistan, he said.
Dr. Murtaza Mughal said that Chinese companies are facing problems due to US sanctions, therefore, Pakistan can offer them help in relocation to Pakistan while investment in other sectors can be persuaded.
Chinese investment in the agricultural sector could be sought to develop this sector and improve the trade balance by exporting agricultural products to China.
Both the countries can tackle doubts over CPEC and decide to prioritize and expedite the projects under the matchless Chinese initiative, he said.
CPEC is a huge economic opportunity which has created 80,000 jobs in Pakistan and by the end of 2030, some 700,000 more jobs will be created.
The strategic partnership between Pakistan and China is not against any third country while the US-India relationship is clearly meant to harm Pakistan and China.
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UBG may face defeat in the FPCCI elections: PEW

The Pakistan Economy Watch (PEW) on Sunday said the United Business Group (UBG) is not prepared for the upcoming elections of FPCCI.
UBG leaders used to launch election campaign four months before the elections but it has not launched an effective campaign for the elections scheduled in December, it said.
Reasons behind the delay in the campaign is said to be the recent defeat of UBG in the elections of Karachi Chamber of Commerce and other disappointments, said Dr. Murtaza Mughal, President PEW.
He said that the patron of the group SM Muneer used to call former prime minister Nawaz Sharif his hero but the PM fired him from TDAP for dwindling exports which shocked many.
Murtaza Mughal said that SM Muneer also tried to become governor of Sindh in caretaker setup but failed while all the important leaders also failed to secure any slot in the interim government.
After the election of PTI into power, SM Muneer tried to get a position in the government but was politely denied and the group was also ignored in the recently formed Business Leaders Council, he added.
However, a central leader of the Businessmen Panel was given an important ministry in the caretaker setup in Punjab.
Murtaza Mughal said that all these developments have dented the morale of the leaders and supporters of the UBG which is reflecting in their attitude.
He said that the dejection in the UBG may help the Businessmen Panel in the forthcoming elections of the Apex Chamber and the business community may see a profound change.
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PM Imran to make Pakistan a developed country: PEW

Govt will never compromise national interests for IMF loan
Masses asked to cooperate with the government
The Pakistan Economy Watch (PEW) on Sunday said Prime Minister Imran Khan will make Pakistan a respected and developed country.
Masses should reject the propaganda of elements rejected in the recent election and cooperate with the government, it said.
Masses should understand that countries cannot remain dependent on loans and changing the rotten system will take time, said Chairman of the PEW Brig. Muhammad Aslam Khan (Retd).
He added that people should not panic and remember the example of South Korea and other countries which overwhelmed their difficulties with the cooperation of the masses.
Muhammad Aslam Khan said that politicians, bureaucracy and have looted Pakistan for decades, therefore, masses and not ready to believe anything.
Now the situation has changed for good, but the government will have to take difficult decisions that would be painful for people but necessary under international commitments to get out of the current severe economic situation, he observed.
He lauded the stance of the government of not compromising on national security and the PTI government would not opt for an IMF programme if conditionalities are against the national interests.
Dr. Murtaza Mughal said that IMF programme was inevitable in the given circumstances when export competitiveness had been destroyed and debt profile aggravated over the past five years, he noted.
IMF programme would be a helping hand for the government to gradually sail through the tough economic circumstances.
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PML-N, PPP looted country like East India Country: PEW

Stabilised economy will automatically balance prices
Masses should not panic, change takes time
The Pakistan Economy Watch (PEW) PML-N and PPP plundered country like East India Company while recent price hike was a compulsion due to destructive policies of former PM Nawaz Sharif.
Masses should understand that the country cannot be run on the basis of loans forever and a change is not possible overnight, it said.
Economic stability will automatically reduce prices of energy and necessities and stabilise the eroding exchange rate, said Chairman of the PEW Brig. Muhammad Aslam Khan (Retd).
Speaking at a function, he said that people should not panic and remember the example of South Korea which took a loan of 58 billion dollars from the IMF to avoid default.
Masses cooperated with the government and deposited tonnes of gold enabling government to repay debt four years ahead of schedule, he added.
Muhammad Aslam Khan said that in 1907 the same country faced a crisis when Japanese loans matched its GDP, men quit smoking while women sold their wedding dresses and jewellery.
The world wars destroyed many countries which are now highly developed nations, he said, adding that Venezuelan economy has contracted by 18 percent in 2018, prices have jumped by 1,370,000 percent while IMF forecast says that inflation is to touch ten million percent by 2019.
Presently a cup of tea in that country costs as much as a normal home was priced a few years ago but the situation in Pakistan is far better than that.
He noted that politicians, bureaucracy and other influential have looted Pakistan to an extent that masses and not ready to believe anything but now situation has changed and the government will not need another bailout in future.
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PM’s decision to seek IMF help to stabilize the market: PEW

Hike in power, gas prices to hit masses, economy
Circular debt burden should not be put on consumers
The Pakistan Economy Watch (PEW) on Tuesday said Prime Minister Imran Khan’s decision to seek IMF help to overcome balance of payments crisis will stabilise the market facing turmoil due to uncertainty.
The continued indecision regarding a bailout package from IMF has damaged stock market, eroded rupee and raised concerns about the future of the economy but the decision of the premier will calm the nervous investors, it said.
The forex reserves are sliding, the deficit is increasing, payments for imports and debt servicing has become difficult and there is no money for developmental schemes, therefore, IMF loan has become last option, said PEW Chairman Brig. Muhammad Aslam Khan (Retd).
He said that prices of essentials are skyrocketing, circular debt has reached the mark of trillions of rupees while market capitalisation in the stock exchange has suffered by half a trillion rupees in one month.
Muhammad Aslam Khan said that investors suffered a loss of 270 billion rupees in the recent stock market crash due to uncertainty but now the situation will improve.
He said that government should try its best to deal with the IMF’s demand to further increase the price of gas and electricity, weakening of rupee and tighten monetary policy as it will hurt masses and the economy.
Masses are not ready to swallow more bitter pills, therefore, the power sector circular debt should not be recovered from the honest consumers who have not contributed to it, he demanded.

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