Pakistan Economy Watch (PEW)

BISP’s move lauded, exclusion of undeserving to save Rs16b: PEW

The Pakistan Economy Watch (PEW) on Sunday lauded the government’s move to streamline the database of Benazir Income Support Programme (BISP) and exclude undeserving persons from the list of beneficiaries.
BISP has been supporting the poor since long and so far it has distributed around Rs700 billion among poor but politicians added millions of undeserving to the list of beneficiaries which was cruelty, it said.
Now the government has decided to remove over eight hundred thousand people from the list of beneficiaries which will save Rs16 billion annually which can be used to support the deserving which is a laudable move, said Chairman Brig. Muhammad Aslam Khan (Retd).
He said that how can those who own vehicles have land over 12 acres, travel abroad and pay heavy utility bills can get aid under BISP which was meant for the poor.
Aslam Khan noted that a political party is opposing this move with full force which indicates its involvement in the corruption which deprived poor of their right for years for the sake of political popularity.
BISP is the largest social safety net in Pakistan and its performance has been repeatedly lauded at home and abroad by various institutions and now it will be able to support the poor in an effective way, he said.
Such initiatives are essential to help poverty-stricken people, therefore, these programs need to be managed in a way that the benefits reach the targeted people and political interference is avoided.

Production targets compromised for idealistic revenue objectives: PEW

Tax target impractical, against national interests

IMF conditions resulting in negative growth

The Pakistan Economy Watch (PEW) on Friday said production targets are being compromised for the unrealistic revenue objectives which are against the national interests.

IMF conditions have resulted in negative growth in important sectors of the economy while tax measures have made life difficult for the masses and the business community, it said.

The interest rate is kept one percent above then the desire of IMF which has damaged the economy and pushed many industries in the ICU, said Dr. Murtaza Mughal, President PEW.

He said that compression of imports has saved four billion dollars but inflicted a revenue loss of Rs200 billion in five months while reduced GDP by tens of billions.

Discouraging imports has left many industries closed resulting in massive unemployment, loss of revenue and runaway inflation, he said.

Dr. Murtaza Mughal said that economy and the masses are paying the price of policies of the central bank which will result in a revenue loss of almost Rs500 billion for the whole year.

He said that failure to achieve unrealistically high revenue targets has resulted in squeezing of the business community and blocking of refunds which is hitting export industry badly.

Dr. Mughal noted that all the economic experts who negotiated a deal with IMF were well aware of the ground realities but they agreed to conditions which were damaging to the economy which is shocking.