Archive for February, 2019

Decision to hasten sale of SOEs lauded: PEW

State resources not for pleasing incompetent
Vested interests keeping SOEs alive

The Pakistan Economy Watch (PEW) on Saturday lauded the decision of the government to speed up stalled process of privitization to reduce deficit as losses of the bleeding state-owned enterprises (SOEs) continues to mount.

The losses inflicted on public exchequer by 197 SOEs are now running into trillions of rupees while the government spent Rs 277 billion in 2017-18 to keep PIA and WAPDA artificially alive, it said.

The government should sell or shut down the enterprises which have become white elephants draining scarce national resources, said Dr. Murtaza Mughal, President PEW.

He said that eighteen thousand workers are serving in in overstaffed PIA is making a loss at the rate of $30 million a month while it has liabilities to the tune of two billion dollars.

Similarly, thousands of workers of Pakistan Steel Mills are getting salaries without any output since the last two years, he said, adding that Railways, energy companies, and other corporations are no different.

Dr. Murtaza Mughal said that losses of state-run enterprises continue to increase so are the number of their board members, directors, top officials, and staff which is amazing.

This government has recently dropped PSM from its list of SOEs to be privatised promising to produce a “restructuring plan” soon while will meet the fate of other such plans orchestrated since decades.

These enterprises are kept alive to promote nobility, get juicy contracts and provide jobs to incompetent workers of the ruling political party for which masses are being made scapegoat since decades.

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Military leaders played a positive role in improving Pak-Saudia relations: PEW

Military leaders played a positive role in improving Pak-Saudia relations
Agreements with KSA to help Pakistan attract investment from other countries

The Pakistan Economy Watch (PEW) Chairman Brig. Muhammad Aslam Khan (Retd) on Tuesday said apart from political leaders, the former and incumbent military leaders also played a positive role in further bettering relations between Pakistan and Saudi Arabia.
Agreements between the two brotherly countries worth billions of dollars will usher a new era of development and prosperity as it will improve the confidence of business community and push other countries to invest in Pakistan, he said.
Brig. Muhammad Aslam Khan (Retd) welcomed the decision of crown prince to immediately release over two thousand Pakistani prisoners on the request of Prime Minister Imran Khan which has improved the image of PM.
He said that a new era of economic relations with Saudi Arabia will expand the Pakistani economy and help the government to fulfil its vision.
The PEW Chairman said that government should also consider steps to boost employment opportunities for Pakistanis in KSA, increase remittances and cut Hajj expenses for the people.
He said that trade restrictions imposed by India after Pulwama drama and threats are meaningless to Pakistan.
This is an effort by Indian ruling party to gain cheap popularity which if translated into action will be responded by full force.
India will fail to turn international opinion against Pakistan by such tactics while it will have no impact on the case against India spy in the International Court of Justice.
New Delhi has developed a habit of blaming Pakistan for her failures which are known globally.

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