27. 12. 12
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As Harry returned to England last week , reportedly to his Army base in Wattisham, Suffolk, before a planned visit to Clarence House for discussions with aides, a bachelorette party spilled details of partying with the prince in Vegas and raunchy photos of Harry’s pre-Vegas party on a private estate in Necker Island emerged.
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26. 12. 12
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PEW hopes Naek will resolve CNG issue within days
Satisfaction expressed over conduct of ECC sub-committee
The Pakistan Economy Watch (PEW) on Tuesday lauded the decision of the government to include representatives of consumers and business chambers in formulating policy for fixing CNG prices.
Besides officials of Ogra, APCNGA, CNGDA, and Ministry of Petroleum, the sub-committee of the federal cabinet’s ECC has asked Network for Consumer Protection, Islamabad and Women’s Chamber of Commerce to attend the meeting scheduled on Wednesday which is a very positive development, it said.
Earlier committees lacked representation of owners, consumers and business chambers making their decisions questionable, said Dr. Murtaza Mughal, President PEW.
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24. 12. 12
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Industry key to recovery, facing competition and meeting national challenges
Corporate tax rate increasingly uncompetitive
The Pakistan Economy Watch (PEW) on Sunday asked the government to focus on development of manufacturing sector to ensure development.
Manufacturing, one of the most vital parts of the economy, is a major source of jobs, contributor to a significant portion of taxes, driver for innovation and tool to meet many national challenges, it said.
Lack of supportive policies shrinks manufacturing sector leaving country with a wide trade deficit as imports outstrips exports, said Dr. Murtaza Mughal, President PEW.
He said that rising poverty and falling exports can be tackled by paying due attention to the overtaxed and declining industrial sector which has been ignored since long leading to economic weakness.
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22. 12. 12
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APCNGA Requests CJ fir progas probe
APCNGA blames Dr Asim for energy crisis
MD Progas writes to Pakistan Economy Watch
SSGC Rejects PEW Report
MD Progas Refuses PEW Report
Attempts to justify deal resulted in CNG crisis
The Pakistan Economy Watch (PEW) on Friday demanded independent probe into purchase of a LPG terminal at inflated prices by a gas distribution company.
The Sui Southern Gas Company (SSGC) bought scrap terminal of insolvent Progas Pakistan Limited on 500 per cent inflated rates which was illegal and against its mandate, said Dr. Murtaza Mughal, President PEW.
The owners of the company gone cash-strapped in 2009, Mr. Abbas Bilgrami and Omar Saboor, closely linked with an influential official of the Ministry of Petroleum and Natural Resources, left country after receiving payment, he added.
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17. 12. 12
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US influence emerges as major threat to Pakistan’s economy
Abandoning Iran gas project to please America unfortunate
Opposition silence over the issue shocking
The Pakistan Economy Watch (PEW) on Sunday said that American influence in Pakistan has reached to a limit where national dignity, sovereignty and interests are being compromised without considering the outcome.
Pak-Iran gas pipeline, one of the most vital and long-delayed projects necessary for the survival of the country has been abandoned ending hopes of revival of shambling economy, said Dr. Murtaza Mughal, President PEW.
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11. 12. 12
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The Pakistan Economy Watch (PEW) on Tuesday said five-year performance of the government is far from satisfactory.
Government’s term remained marked with controversies and failures which contributed towards a weak federation, it said.
Rulers resorted to every tactic to prolong rule, national resources were plundered and national interests were compromised, said Dr. Murtaza Mughal, President PEW.
He said that country witnessed a surge in terrorism, inflation and uncertainty during the incumbent democratic government.
A prime minister was sent packing to defend the corruption of a politician which was a stain on the performance of the government, he added.
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10. 12. 12
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Politicians, parties asked to refrain from harassing businessmen
The Pakistan Economy Watch (PEW) on Sunday asked the Political parties and contesting candidates to refrain from harassing business community in the name of donations for election campaign.
Business community in various parts of the country is facing unusual and undue pressure for political contributions by some parties which is illegal and immoral, it said.
Pakistani business community is already facing issues like energy shortages, absence of enabling environment, harassment by tax officials, kidnapping, extortion, etc. and now they are being forced to pay donations political campaigns, said Dr. Murtaza Mughal, President PEW.
He said that after government the political parties are trying best to make trade and investment climate unfriendly for the businessmen who were already facing serious issues.
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07. 12. 12
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Full disclosure on gas theft by CNG operators demanded
Reasons behind MD SSGC’s sudden resignation needs probe
The Pakistan Economy Watch (PEW) on Thursday said energy establishment has been inflicting great miseries upon masses.
Energy policies have resulted in sluggish growth and the current CNG crisis which has very serious social and economic implications, it said.
Situation will improve if a major reshuffle in energy related department is undertaken as the Supreme Court has proved incompetence of petroleum ministry and Ogra by rejecting their reports, said Dr. Murtaza Mughal, President PEW.
He said that some elements have planned to reap benefits while keeping whole nation focused on the on-going crisis.
Dr. Murtaza Mughal opined that Competition Commission’s raid on the office of CNG association seems politically motivated at a time when the later was disagreeing with the government on prices and Supreme Court is hearing the case.
He asked the Petroleum advisor to take immediate action against the CNG filling stations involved in gas theft with the names of departments and officials involved being made public.
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05. 12. 12
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PEW slates delay in moving int’l court against India for violating IWT
SC asked to expose hidden hand pleasing India on Pakistan’s cost
Water bureaucracy fails to safeguard Pakistan’s interests
Pakistan to become failed state in absence of KBD
The Pakistan Economy Watch (PEW) on Tuesday asked the government to move International Court of Arbitration immediately to stop India from constructing illegal hydropower projects which to turn Pakistan into a desert.
It asked the Supreme Court to expose the hidden hand which has been delaying the Pakistan’s response to Indian violation of Indus Water Treaty (IWT).
Government has been delaying response to the construction of Nimoo-Bazgo hydropower project since one year which amounts to facilitating Indian plot against Pakistan, said Dr. Murtaza Mughal, President PEW.
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03. 12. 12
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Elite institutions hurting ethics, promoting inequality in society
Good education becomes exclusive right for rich in Pakistan
The Pakistan Economy Watch (PEW) on Sunday said majority of privately-owned educational institutions are hindering upward social mobility of the poor.
Setting up a private educational institution has become one of the most lucrative businesses in Pakistan with little focus on quality of education, imparting necessary skills and teaching basic values, it said.
The institutions for elite are just focused on minting money, attracting youth and making careers, not minds, said Dr. Murtaza Mughal, President PEW.
These institutions guarantee achievements with little experience, great success with no vision, and little considerations among students for those who are not fortunate enough, he added.
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30. 11. 12
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The Pakistan Economy Watch (PEW) on Thursday said outcome of recently held D-8 Summit was nothing more than disappointment.
The Summit produced a largely meaningless document that failed to address the challenges the block is faced with, it said.
The 35-point declaration of the eighth Summit was as flawed as the outcome, said Dr. Murtaza Mughal, President PEW.
The D-8 member states are facing challenges like energy scarcity, international pressures, food security, communal violence, terrorism, natural disaster and a tarnished image which needed to be addressed through joint efforts, he said.
However, the Summit failed to announce any solid decision and relied on promises, claims and hollow commitments, he added.
Dr. Murtaza Mughal said that stressing the need for joint efforts is not enough to justify the spending on such an event when country is relying on aid and loans.
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29. 11. 12
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ISLAMABAD, November 28: The Pakistan Economy Watch (PEW) has urged the Oil and Gas Regulatory Authority (OGRA) to take independent decisions to determine a new price of Compressed Natural Gas (CNG) in order to provide relief to the masses setting aside the pressure of influential CNG association cartel.
In a statement issued here on Wednesday, President Pakistan Economy Watch Dr.Murtaza Mughal said that CNG cartel had minted billion of rupees from the consumers and therefore now it was reluctant to sell gas at lower rates.
“State owned gas companies should take over the CNG stations if CNG owners are not ready to sell gas at low rates to provide relief to the consumers,” he said adding that Competition Commission of Pakistan (CCP) should also take action of CNG cartel that had deprived the consumers of CNG by secret call of strike to CNG station owners to shut down outlets.
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27. 11. 12
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Eroding currency exposes claims of Govt
Falling rupee adds fuel to crisis
The Pakistan Economy Watch (PEW) on Monday said country’s economy continues to walk a tightrope due to indifference of the authorities concerned.
The rupee is likely to witness high volatility in the coming months as economy continues to take a back seat amid too much focus of the government on the political activities before the elections.
The situation has made the chances of economic revival and outlook for the reform process cloudy, said Dr. Murtaza Mughal, President PEW.
Rupee in under continued pressure and reform process is taking a step backwards while the opposition seems unconcerned about economic situation at this point in time, he said.
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22. 11. 12
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Legality of Ogra CNG decisions questioned
SC asked to foil conspiracies against masses
The Pakistan Economy Watch (PEW) Wednesday said that country is being deliberately pushed towards an energy crisis.
Top officials of the Oil and Gas Regulatory Authority (Ogra) have been acting as guardians of the interests of powerful oil lobby who are bent upon destroying Compressed Natural Gas (CNG) sector.
Decisions of the Ogra regarding CNG sector taken during last few calendar weeks are legally debatable, said Dr. Murtaza Mughal, President PEW.
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20. 11. 12
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Hung parliament to enhance miseries of masses
Ad hoc policy of the Govt failed again
The Pakistan Economy Watch (PEW) on Monday said load shedding has been increased in winter which is failure on the part of the authorities concerned.
Enhanced duration of load shedding proves that government efforts to resolve the longstanding issue of circular debt in the power sector remained futile, it said.
Policy of forcing country’s largest fuel retailer to buy oil from refineries and to provide it to power producers on credit has failed, said Dr. Murtaza Mughal, President PEW.
He said that the short-term measure has helped reduce load shedding for some time but it has burdened the oil supplier to the tune of Rs 135 billion.
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17. 11. 12
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More gas stolen daily than consumed by CNG sector
Influential sectors being pleased on the cost of masses, CNG sector
The Pakistan Economy Watch (PEW) on Friday said that government is pushing policy to rob poor to reward nobility.
Top government functionaries are involved in conspiracy to deprive masses of economical fuel and force them to consume costly alternative, it said.
Revenue generated from CNG sector through 11 taxes is being used to subsidise influential fertilizer and power sectors, said Dr. Murtaza Mughal, President PEW.
He said that top politicians of country have invested in influential sectors which are getting unjust exemptions, tax breaks, subsidies and cheap gas.
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15. 11. 12
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Pakistan lacks infrastructure to import LNG
Set-up requires Rs 17 billion, over two years’ time
The Pakistan Economy Watch (PEW) on Wednesday said that recent deal to import Liquefied Natural Gas (LNG) from Qatar is unfeasible.
The import agreement signed recently with Qatar is not practical as Pakistan lacks infrastructure to import LNG, it said.
Government has been trying to import LNG since years during which billions were spent on studies, hiring of experts, foreign tours and road shows disregarding the fact that Pakistani ports cannot host any LNG vessel, said Dr. Murtaza Mughal, President PEW.
Depth of water at Port Qasim and Kemari is 39 feet while the average depth of a loaded LNG carrier in the water is 45 to 48 feet.
The lightest LNG ship scarcely available is that of fifty thousand tonnes with 42 feet draught that cannot serve the purpose.
Dr. Murtaza Mughal said that before planning to import LNG, government should have initiated dredging (excavation activity to enable waterways navigable) which will cost 40 million dollar and take two years minimum.
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10. 11. 12
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Disqualification of lawmaker through LHC sought
Greedy politicians continue to rob nation: PEW
Government has failed to safeguard corporate sector from the highhandedness of one of its influential ministers which has left insurance companies with no option but to seek his disqualification.
Some leading insurance companies through one Shafiq Ahmed son of Muhammad Nazir Minhas resident of Century Tower, Gulberg Lahore, have invoked Lahore High Court (LHC) through M.M. Alam Chaudhry Advocate against State Minister for Privitization Rana Asif Tauseef.
According to a statement issued by PEW, the petitioner has pleaded that MNA Mr. Tauseef who is also Director and Chief Executive of Rana Fabrics Limited and Madina Food Mills Faisalabad, has been using his influence to plunder the insurance companies.
Rana Asif Tauseef is in habit of getting loans from banks against fake stocks and put these so called stocks on fire after getting them insured, the petitioner alleged.
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15. 10. 12
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Inter-fuel substitution can save masses from winter gas load shedding
Country to save $600m, 550m cubic feet of gas per day
No gas load shedding in winter if plan introduced
The Pakistan Economy Watch on Sunday said inter-fuel substitution can culminate the need for gas load shedding during the five months of winter giving relief to masses and industry.
Load shedding is not a solution, cost-effective energy resources for power generation are needed for smooth and long-term economic development, it said.
Our total energy requirement stands at 64.5 million tonnes per annum which eats up lot of foreign exchange due to imbalanced energy mix which leave little funds for public sector development projects, said Abdullah Tariq, SVP, PEW.
Demand and security concerns are growing about oil which provides 35 per cent of global energy consumption therefore policy makers should consider replacing high cost products like petrol, diesel and LPG with cheaper fuels, he said.
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09. 10. 12
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مسلمانوں کو حج کے موقع پر اسوہ رسولۖ کے بارے آگاہی پھیلانے کا عہد کرنا چاہیے
راولپنڈی: پاکستان اکانومی واچ کے صدر معروف دانشورڈاکٹر مرتضیٰ مغل نے کہا ہے کہ گستاخانہ فلم کے خلاف پرامن احتجاج بھی ضروری ہے لیکن اس کے ساتھ ساتھ یہ بھی ضروری ہے کہ ہم غیر مسلموں کو اسوہ رسول صلی اللہ علیہ وآلہ وسلم کے بارے میں آگاہ کریں۔ فریضہ حج کی ادائیگی کیلئے روانہ ہونے سے قبل سید مخدوم عباس ہمدانی پیرآف بنگالی شریف’پیر خالد سلطان ممبر اسلامی نظریاتی کونسل اور دیگر احباب سے گفتگو کرتے ہوئے ڈاکٹر مرتضیٰ مغل نے کہا کہ نبی آخر الزمان حضرت محمد صلی اللہ علیہ وآلہ وسلم کے ساتھ محبت کی تجدید کے لئے حج بہترین موقع ہے اور اس موقع پر تمام حجاج اکرام کو عہد کرنا چاہیے کہ وہ اپنے اپنے علاقوں میں جا کر غیر مسلم حلقوں میں رسالت مآب صلی اللہ علیہ وآلہ وسلم کی سیرت پاک سے آگاہ کریں گے اور انہیں بتائیں گے کہ پیغمبر اسلام صرف مسلمانوں نہیں بلکہ تمام انسانوں کے لئے رحمت العالمین ۖ ہیں۔ڈاکٹر مغل نے کہا کہ اگر غیر مسلموں کو اسلام اور قرآن کی حقیقی تعلیمات سے احسن انداز میں روشناس کرا دیا جائے تو پھر کوئی بدبخت کو رسول ۖ کی شان میں کسی طرح گستاخی کی جرات نہ کر پائے گا۔
08. 10. 12
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Pakistan’s progress, prosperity tied to Thar coal
Thar coal to ensure reduction of power tariff, create jobs
The Pakistan Economy Watch (PEW) on Sunday lauded the landmark policy decision of the federal government to use Thar coal for coal-based power generation and all conversions of existing as well as construction of new power projects will be designed on Thar Coal specifications.
The strategic decision is appropriate as prices of imported oil will never come down to reasonable level, gas supply from Iran and Turkmenistan remains uncertain while reserves of native natural gas are depleting, it said.
Pakistan’s energy mix is far from balanced; the power sector is heavily dependent on costly fuel which is among the reasons behind circular debt and high electricity tariff, said Dr. Murtaza Mughal, President PEW.
The government should adopt advanced coal conversion technology to transform inefficient gas-based and dual-fuel fired power plants to coal-fired power plants, he said.
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06. 10. 12
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Amnesty to evaders unjustified, not a permanent solution
The Pakistan Economy Watch (PEW) on Friday said tax amnesty scheme announced recently proves failure of the government to collect targeted taxes and broaden tax net.
It also indicates that government has no intention to bring favourites sectors including agriculture in the tax net, it said.
Move to purify ill-gotten money amounts to encouraging corrupt elements will billions of illicit wealth which is detrimental for the society, said Dr. Murtaza Mughal, President PEW.
Apparently, the amnesty for tax evaders is announced to fill the budgetary gap but the funds raised through this scheme will be silently used to buy political loyalties, he said.
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01. 10. 12
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High-oil-price era demand unconventional solutions
CNG winter ban to cost four lakh jobs, add Rs 15bl to oil import bill
The Pakistan Economy Watch (PEW) on Sunday said appointment of qualified Energy Managers can help resolve persistent energy crisis in Pakistan.
All developed nations have qualified energy managers who ensure cost saving, best utilization of resources and maximum benefit for the country.
The high-oil-price era has forced many private companies in the developed world to appoint energy managers to save costs and boost profits, said Dr. Murtaza Mughal, President PEW while speaking at a discussion on energy crisis.
However, in our country this critical job is left to politicians and babucracy lacking knowledge, resolve and education to keep thing smooth, he added.
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30. 09. 12
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ISLAMABAD: The Pakistan Economy Watch (PEW) on Friday said Ministry of Petroleum and Natural Resources has started implementing plan of installing rental gas extraction plants on various gas fields.
Following the suit of those who plundered national resources in the rental power in the grab of resolving energy crisis a group has been busy in introducing rental gas plants across the country on the lame excuses, it said.
A project near Hyderabad Sindh known as Kunnar Pasakhi Deep (KPD) has already been awarded to LPG king Iqbal Z Ahmed who is charging 380 dollars per tonne to process raw natural gas, said Abdullah Tariq, SVP PEW.
This two-year deal on thrice the market rate will inflict a loss of Rs 7 billion on the public exchequer while some officials and politicians will be the beneficries, he added.
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27. 09. 12
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ISLAMABAD: The Pakistan Economy Watch (PEW) has opposed a plan of Petroleum Minister to grab Rs.38 billion from national kitty to favour some business tycoons of fertilizer industry. In a statement issued here on Wednesday, presdent Pakistan Economy Watch Dr.Murtaza Mughal said Petroleum Ministry has sent a summary to the Economic Coordination Committee (ECC) of the cabinet for its approval to provide Rs.38 billion to fertilizer industry from revenue of the Gas Infrastructure Development Cess (GIDC) to subsidise the building and laying of gas transmission lines. read more…
24. 09. 12
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The Pakistan Economy Watch (PEW) on Sunday said plunder of public and private property which resulted in economic losses to the tune of billions of rupees are unacceptable during protests.
Political leadership remained confined to their protected homes on Youm-e-Ishq-e-Rasool which resulted in unabated violence leaving whole country bleeding while losses crossed Rs 150 billion according to an estimate, it said.
Calls issued by different quarters for peaceful rallies against the third-rate blasphemous film was nothing but a formality, said Dr. Murtaza Mughal, President PEW.
Talking to Allama Prof. Ajaz Mehmood Qadri, Chairman International Peace Council for Interfaith Harmony, he said that what we witnessed on the streets could not have been farther from the teachings of the Prophet (PBUH), who is revered as Rahmatul-lil-Alameen.
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22. 09. 12
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Plan aimed at personal benefit, masses to pay bill
The Pakistan Economy Watch (PEW) on Friday rejected government’s plan to import 15 thousand tonnes of Liquefied Petroleum Gas (LPG) monthly during winter.
The import of 75 thousand tonnes of LPG which will continue for from November to March to reduce shortage of natural gas is aimed to personal welfare while masses will have to pay the bill, it said.
The top management of Sui Southern Gas Company Limited and Sui Northern Gas Pipelines Limited has been directed to buy 500 tonnes of LPG each from Saudi Aramco to be added in gas system after mixing air in it.
Similarly, the SSGC and SNGPL, which will buy 250 tonnes of LPG each, has been directed to make a deal through a broker, highly placed sources in the Ministry of Petroleum and Natural Resources told Abdullah Tariq, SVP, PEW.
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19. 09. 12
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Students paying price of mismanagement by admin
The Pakistan Economy Watch (PEW) on Tuesday said the administration of Quaid-e-Azam University has destroyed the future of forty students by ousting them for failing to meet criteria.
The Quaid-e-Azam University, ranked as top educational institution by the HEC, admitted these students in BBA in September 2010 after all tests and ousted them after four semesters in September 2012 by declaring them unfit for studies.
During the two-year stay in university regular and self-finance students collectively paid over 10 million in fees but they were not given attention they deserved which resulted in C grades that paved way for their ineligibility, a delegation of several aggrieved students and their parents told SVP, PEW Abdullah Tariq.
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17. 09. 12
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Pakistan Economy Watch President Dr Murtaza Mughal, while welcoming the government’s plan to run inefficient thermal power plants on coal, has said it will not only enhance power production from Jamshoro and Guddu plants by 700 megawatts but will also reduce production cost by Rs7 per unit.
In a statement, Mughal said the government should plan to covert more power plants into coal-based stations in order to lessen reliance on expensive furnace oil, slash production cost and reduce oil imports.
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14. 09. 12
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Billions being spent on useless projects
Govt policies against the interests of workers
The Pakistan Economy Watch (PEW) on Friday said economic development cannot be ensured unless quality and affordable education is available to everyone in the country.
Apart from economic revival, peace in the society can also be attained by focusing development of the declining education sector, it said.
Mismanagement, inefficiency, energy crisis and corruption is frequently blamed for all the ills by all segments of the society including opposition but no one is pointing figure towards deteriorating state of education in the country, said Dr. Murtaza Mughal, President PEW.
Every year two million people are joining the job market with half illiterates while majority of the remaining half has sub-standard education which is of little use, he said.
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12. 09. 12
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Gwadar development to transform lives in Balochistan
Balochistan port to ensure journey to prosperity
The Pakistan Economy Watch (PEW) on Tuesday welcomed the decision by the government to hand over management of strategic Gwadar deep-water port to China following the pull-out of Singapore’s PSA International.
Willingness on the part of Beijing to take control of the port will encourage investment and professional handling of port operations. It will bring two countries closer and promote social and economic development, it said.
Gwadar is close to the Strait of Hormuz through which much of the Gulf’s oil exports are carried to other countries while converting it into an oil pipeline hub best suit Chinese interests, said Dr. Murtaza Mughal, President PEW. read more…
10. 09. 12
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Resolution of energy crisis tied to Iran gas project
The Pakistan Economy Watch (PEW) on Sunday lauded the government’s decision to run three inefficient thermal power plants on coal.
It also lauded Asian Development Bank which has agreed to finance the conversion project.
Initially, the move will not only enhance power production of Jamshoro and Guddu thermal power plants by 700 MW but also reduce production cost by Rs 7 per unit, said Dr. Murtaza Mughal, President PEW.
Government, blamed for aggravating the energy crisis, should plan to covert more power plants to coal to reduce reliance on furnace oil, reduce production cost, and shrink oil import bill, he said.
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03. 09. 12
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Energy minister should accept failures, resign
Govt snatches away right of people to live
The Pakistan Economy Watch (PEW) on Sunday said recent hike in petroleum and CNG prices despite a slide in the international market shows that government remains indifferent to the plight of masses.
The hike speaks of mismanagement and inefficiency of the part of the government which has failed to raise funds through any other means except upward revisions of fuel prices, it said.
The minister for petroleum and natural resources should immediately resign after accepting his repeated failures, said Dr. Murtaza Mughal, President PEW.
The PPP-led coalition has raised petroleum prices by more than 60 per cent since it came to power despite getting almost Rs 40 per litre as levies and sales tax from consumers, he added.
Dr. Murtaza Mughal said that in a bid to earn an additional Rs 100 billion, the government has taken a step which will destabilised economy and threaten budget of every household.
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01. 09. 12
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Banks unwilling to support private sector despite interest rate cut
The Pakistan Economy Watch (PEW) on Friday said economy is showing no signs of recovery despite recent cut in policy rate by the State Bank.
Reduction in the interest rates have not motivated commercial banks to start lending to the private sector as they still prefer to advance loans to the government, it said.
The cost of credit is still considered high in business community which barring economic revival since years, said Dr. Murtaza Mughal, President PEW.
Other reasons behind frustration in the private sector include energy shortages, political uncertainty, inflation and deteriorating security conditions.
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29. 08. 12
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Islamabad: The Pakistan Economy Watch (PEW) has urged multilateral donors to set aside the pressure of India and extend financing for the Diamer Bhasha dam that could prove a source of overcoming energy crisis in Pakistan.
In a statement issued here on Tuesday, President Pakistan Economy Watch Dr.Murtaza Mughal said multilateral donors including World Bank (WB) and Asian Development Bank (ADB) have refused to extend financing for the Diamer Bhasha dam under influence of India but donors must set aside the pressure of India and extend financing for the dam.
He said India had been old rival of Pakistan that was forced to have legal battle with India over building several dams on rivers over which Pakistan had right over Indus.
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27. 08. 12
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Call to reform highly controversial oil pricing formula
The Pakistan Economy Watch (PEW) on Sunday said that government’s decision to allow marketing companies to fix retail prices of major oil products is against the national interests.
The government has been extracting too much from the masses on account of petroleum levy and GST for which it is being criticised on every concerned forum, it said.
Now, the government wants to divert public anger while keeping its income unchanged which is a major factor behind rising inflation, said Dr. Murtaza Mughal, President PEW.
Government’s decision to restrict the role of the Oil and Gas Regulatory Authority (Ogra) will have very negative affect as the private sector will bleed the masses white for profits, he added.
Like all businesses, oil marketing companies are being operated only for profit, they have nothing to do with public convenience and it is feared that they will not transfer the benefit of reduction in international oil prices to masses.
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25. 08. 12
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Islamabad: The President Pakistan Economy Watch (PEW) Dr.Murtaza Mughal said on Friday that the government has failed to focus on growth-oriented policy in order to reduce the rising trend of unemployment in the country.
In a statement issued here on Friday, Dr.Murtaza Mughal said the rate of country’s unemployment had increased to 6 percent this year whereas about 30 per cent of the people were unemployed.
He said government should pay heed to labor intensives projects in order to reduce the unemployment in the country as it had been estimated that there was about 20 per cent to 30 per cent of total labor force that goes to waste in the thickly populated countries like Pakistan. If the citizens of the country are not well skilled and professional than how it can be expected that the country will do the progress.
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22. 08. 12
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Hopes of economic revival fades as donors stop financing critical projects
Govt failed to reduce trigger economic growth, succeeded in raising slogans
Funding projects by placing surcharge on consumers, mortgaging assets rejected
The Pakistan Economy Watch (PEW) on Wednesday said the ruling coalition has discredited country to any extent that all the major international lending institutions have expressed serious reservations about its trustworthiness.
The International Monetary Fund (IMF), World Bank (WB) and the Asian Development Bank (ADB) have expressed dissatisfied over the way country is being governed, it said.
Multilateral donors have stopped funding some water and power projects including 4,500 megawatt Diamer-Bhasha Dam which has diminished hopes of economic revival, said Dr. Murtaza Mughal, President PEW.
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18. 08. 12
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Using crops for biofuels leads to starvation worldwide
The Pakistan Economy Watch (PEW) on Friday said an immediate ban on biofuel production can save the world from looming food crisis which can result in massive malnutrition, starvation, and riots.
The worst drought in 50 years in the US and lack of rains in India and some other countries has left global food market highly vulnerable, it said.
Now, it has become evident that the most advanced agricultural systems are subject to the weather which if become unfriendly can lead to severe grain shocks, said Dr. Murtaza Mughal, President PEW.
All the countries especially US should revisit politically attractive policies like reduced dependence on fossil fuel to care for the hungry mouths around the world, he said.
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14. 08. 12
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NWA operation to waste energy of armed forces
Additional powers for security apparatus demanded
The Pakistan Economy Watch (PEW) on Monday said any action against Haqqani network on the behest of America will weaken Pakistan.
This is a conspiracy aimed at turning different Afghan Taliban factions fighting against US-led NATO forces and the government of Afghanistan against Pakistan, it said.
Any move against Haqqanis will also relieve Pakistan of goodwill among Afghan Taliban and it will lose seat on the negotiations table, said Dr. Murtaza Mughal, President PEW.
He said that Haqqani network is not as deadly as painted by US and Nato; its capability to conduct operations is limited to three provinces.
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11. 08. 12
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ISLAMABAD: The Pakistan Economy Watch (PEW) has demanded the government to immediately impose a ten per cent duty on import of tractors in order to further enhance the sale of locally manufactured tractors and bring down its prices.
In a statement issued here on Friday, President Pakistan Economy Watch Dr.Murtaza Mughal said the imposition of 10 per cent duty on import of tractors will go a long way to boost local tractor industry which may also further decline the prices of tractors.
He said country’s local industry was significantly global competitive that was why duties should be imposed on import of tractors as currently, the import of tractor is zero rated but now government should give some duty protection to tractor industry by imposing duty on its import.
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06. 08. 12
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Nothing well on the economic front
The Pakistan Economy Watch (PEW) on Sunday said the economic managers are the biggest hindrance in Pakistan’s road to economic recovery.
Economic team conveniently blame former government and international developments for all the economic ills while absolving themselves of all the responsibilities, it said.
The team has failed to initiate any policy reforms; it continued to rely on borrowing which resulted in serious economic problems, said Dr. Murtaza Mughal, President PEW.
The finance team has failed all the tests since four years; they are accused of fudging figures, protecting rich and making budgets based on assumptions, he added.
He said that double-digit inflation, high public debt and looming balance of payments crisis prove that economic team prefers politics to reforms.
Dr. Murtaza Mughal said that false hopes and empty promises have become hallmark of the failed government, all the good news from the economic front are mere propaganda.
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03. 08. 12
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Pakistan heading for failed state status
The Pakistan Economy Watch (PEW) on Thursday said impact of political struggle has become unbearable for the masses and business community.
Perpetual political struggle and friction between institutions has been dragging economy down and there is no respite in sight, it said.
The stalemate with the judiciary has hampered the government’s ability to take effective steps aimed at recovering the economy, said Dr. Murtaza Mughal, President PEW.
He said that every day Pakistan is being plunged further into a state of general insecurity; indicators are pointing to meltdown of the public institutions; sovereignty of the state is jeopardised and country is turning into a failed state.
Government which has frequently been accused of mismanagement and inefficiency has failed to address the economic challenges, augment investor confidence and attract external financial support, he added.
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31. 07. 12
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ISLAMABAD: While expressing deep concerns over rising prices of locally made vehicles, the Pakistan Economy Watch (PEW) has urged the government to abolish protections for smashing powerful lobby of auto industry in a bid to reduce prices of vehicles.
In a statement issued here on Monday, President Pakistan Economy Watch Dr.Murtaza Mughal expressed dismay over government’s slow move to abolish protections extended to the auto industry in order to bring down the prices of locally made vehicles.
He said the abolishment of protections extended to the auto industry was essential for smashing lobby of auto industry which was so powerful that even government appeared unable to make policy against their vested interests.
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30. 07. 12
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The Pakistan Economy Watch (PEW) on Sunday said leadership of Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has been ignoring merit which is resulting in complaints and declining image of the Apex chamber.
A group of businessmen has taken over the FPCCI for completion of personal agenda which has created unrest among the business community, it said.
Complaints against FPCCI leaders are piling up in the Commerce Ministry, Directorate General of Trade Organisations, and other forums but to no avail, said Abdullah Tariq, SVP of the Pakistan Economy Watch.
He said that elections procedure in FPCCI should be revisited, there should a code of conduct and uneducated or semi educated people should not be allowed to lead delegations abroad to waste resources and make delegations a laughing-stock.
FPCCI’s policy of sending unelected leaders on foreign tours while ignoring the sitting officials and conspiracies against the other chambers is now being debated openly, he added.
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27. 07. 12
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Personal interests overtaking collective welfare in Apex chamber
The Pakistan Economy Watch (PEW) on Wednesday said leadership of Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has been ignoring merit which is resulting in complaints and declining image of the Apex chamber.
A group of businessmen has taken over the FPCCI for completion of personal agenda which has created unrest among the business community, it said.
Complaints against FPCCI leaders are piling up in the Commerce Ministry, Directorate General of Trade Organisations, and other forums but to no avail, said Abdullah Tariq, SVP of the Pakistan Economy Watch.
He said that elections procedure in FPCCI should be revisited, there should a code of conduct and uneducated or semi educated people should not be allowed to lead delegations abroad to waste resources and make delegations a laughing-stock.
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25. 07. 12
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ISLAMABAD, July 25: The United States (US) should offer civil nuclear technology to Pakistan to meet growing energy needs and shun from threatening Pakistan to shelve much-needed Iran-Pakistan (IP) gas pipeline project.
In a statement issued here on Wednesday President Pakistan Economy Watch (PEW) Dr.Murtaza Mughal said Pakistan was facing emergency like situation due to energy shortages and IP gas pipeline project could resolve the emerging demand of gas in future.
“Pakistan is facing a huge gas deficit of over 2 billion cubic feet per day as its production stands at 4.2 billion cubic feet,” he said, adding the import of gas from Iran will help ease the gas deficit in the country to a reasonable level.
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25. 07. 12
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The Pakistan Economy Watch (PEW) on Tuesday asked the government to take serious step to ensure food security in country as an international food crisis can engulf world soon.
America, one of the major global exporters of food is facing worst drought since 1956 which has reduced output of wheat, corn, soyabean etc. pushing their prices to new heights, it said.
Prices of commodities have surpassed the peaks of the 2007-08 crises that sparked food riots in more than 30 countries, said Dr. Murtaza Mughal, President PEW.
He said that crisis in 2007-08 was result of speculation which the current is real which calls for enhanced focus on agriculture.
This is not a local problem that Americans are facing, he said, adding that the impact of the crisis would be felt across the globe.
Dr. Murtaza Mughal said that vulnerable and the poor would be hardest hit who spend as much as 60 to 75 per cent of their income on food.
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19. 07. 12
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ISLAMABAD: The Ministry of Petroleum’s hectic efforts to bring Oil and Gas Regulatory Authority (OGRA) under its administrative control will make the Authority toothless to protect rights of the consumers.
This was said by President Pakistan Economy Watch (PEW) Dr.Murtaza Mughal in a statement issued here on Wednesday.
He said some report suggest that ministry of Petroleum was making all-out efforts to bring OGRA under its control in order to get its desire objectives of importing Liquefied Natural Gas (LNG) according to its own wish as ogra had opposed LNG import on the existing terms and conditions by disagreeing with the ministry on six points and relaxed rules’ for import of LNG.
Dr.Murtaza Mughal said after failing to get Ogra nod over imported LNG and LPG projects ministry started to clip the powers of the authority which will also loose its independent role as a Regulator.
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