19. 01. 15
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The Pakistan Economy Watch (PEW) on Monday opposed import of Liquefied Natural Gas (LNG) through state-run oil retailer Pakistan State Oil (PSO) to tame energy crisis terming it against the national interests.
PSO has repeatedly failed to maintain supply chain of the fossil fuel resulting in crisis, the credit of ongoing petrol crisis also goes to the PSO among others, it said.
Private sector should be allowed to import petroleum products as well as LNG as PSO has no experience in the import of gas and red-tapesim will delay arrival of LNG which will compromise growth, said Sajid Ghulam, Vice President PEW.
A financially insolvent company like PSO cannot make spot payments to the LNG exporters as payment in LNG supply chain has to be very prompt from all ends – from suppliers right up to end-users – otherwise the supply chain will disrupt in short span of time. read more…
18. 01. 15
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Authorities trying to hide incompetence through lame excuses
Acute loadshedding to take country hostage as oil stocks dried
Private sector should be allowed to import petroleum products
The Pakistan Economy Watch (PEW) on Saturday said petrol crisis has exposed compitance of petroleum officials and the claims of the government regarding good governance.
Over half of the country’s population and economy continue to suffer because of the fuel scarcity but government seems uninterested in resolving the crisis, said Dr. Murtaza Mughal, President PEW.
He said that top government functionaries continue to hide their mismanagement through different baseless excuses.
Dr. Murtaza Mughal said that the situation can be normalised in two months if there is a political will to resolve the crisis.
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17. 01. 15
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ISLAMABAD : President of the Pakistan Economy Watch, Dr Murtaza Mughal, on Friday said wrong decisions of the bureaucracy are behind the petrol crisis which has made life difficult for millions and hit economy.
Those who failed to take corrective measures in time should be asked to give reasons for the disaster, he said. The officials concerned continued to ignore plight of PSO despite record receivables of 235 billion and power sector circular debt hitting a record mark of Rs 600 billion, he said while talking to Patron of the Chamber of Small Traders Islamabad Shahid Rasheed Butt and members of business community.
Dr Murtaza Mughal said that PSO started defaulting on its obligations in November 2014 and the institution faced refusal by the banks for any loans.
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05. 01. 15
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FBR blamed for artful trickery of tax collection figures
The Pakistan Economy Watch (PEW) on Sunday said that just distribution of wealth is imperative to win ongoing war against militants and extremists.
Country is suffering from regressive tax system where seventy per cent of the taxes are collected through indirect taxation pushing deprivation, poverty and gulf between rich and poor to new heights, said Dr. Murtaza Mughal, President PEW.
In a statement issued here today, he said that FBR has failed to enforce a proper direct taxation system which is benefitting the elite and making live difficult of the poor.
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01. 01. 15
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The Pakistan Economy Watch (PEW) on Wednesday said politics and sit-ins hit government plans to overcome energy crisis and ensure good GDP growth in 2014.
This year saw unprecedented hike is value of dollar against rupees and record oil prices That retreated, it said.
Similarly, the inflation touched new heights to fall later due to sliding oil prices, said Dr. Murtaza Mughal, President PEW.
The SBP started softening monetary policy due to extra space gained through retreating oil prices while remittances, manufacturing and GDP growth improved.
Exports stood at 25 billion dollars to June 2014 while imports were recorded at 45 billion dollars triggering trade deficit, he noted.
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25. 12. 14
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LPG sector milking people with the help of regulator
The Pakistan Economy Watch (PEW) on Wednesday said gas crisis is result of preferring influential industrial sectors over the masses in biting winter.
The gas loadshedding which started with the advent of winter has now worsened making life of common man difficult across Punjab, it said,
Gas is not available in many cities where people leave homes for work without breakfast while parents find it difficult to feed their school going children in the morning, said Dr. Murtaza Mughal, President PEW.
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24. 12. 14
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Twelve pople die in Pakistan due to heart attack every hour
The Pakistan Economy Watch (PEW) on Tuesday said heart diseases were one of the leading causes of death among adults and best way to prevent it is an active lifestyle.
Heart diseases are common, costly and deadly for people having diabetes, high blood pressure, high cholesterol, obesity, tension and smoking, said Dr. Murtaza Mughal, President PEW.
Talking to President Pakistan National Heart Association (PANAH), Gen. Masood ur Rehman Kiani (Retd) and former surgeon general Pakistan Gen. Karamat Niazi, he said that at least twelve people die every hour in Pakistan due to heart attack while 34 per cent of all deaths in Pakistan are caused by cardiovascular diseases (CVDs).
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20. 12. 14
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Those who suspended hangings should be held accountable
Madrassas should be barred from painting Taliban as heroes
National security more important than EU trade relaxations
The Pakistan Economy Watch (PEW) of Friday demanded immediate justice to the culprits of Peshawar carnage.
The death penalty should be implemented as soon as possible as it would deter potential recruits from engaging in militancy while it will terrify many terrorists while delay will be counter productive, it said.
Those who imposed a ban of hangings in 2008 should also be held accountable as they helped embolden terrorists, said Dr. Murtaza Mughal, President PEW.
He said that ‘good Taliban, bad Taliban’ policy should be abandoned ad it will result in selective justice compromising government hostile approach to all militants.
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16. 12. 14
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The Pakistan Economy Watch (PEW) on Tuesday said tobacco related deaths can be reduced through enhanced taxation on the cigeratte industry.
Tobacco in any form is extremely harmful, it kills around 500 people daily in Pakistan damaging households and economy, said Dr. Murtaza Mughal, President PEW.
Speaking at a function afer bring nominated as General Secretary of the Pakistan National Heart Association (PANAH), he said that over 25 million Pakistani are smokers harming themselves, co-workers and family members.
Dr. Murtaza Mughal said that a WHO reports says that by 2030, mortality from smoking-related disease is expected to rise to 10 million with over 70 per cent of these deaths will be in developing countries.
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13. 12. 14
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The Pakistan Economy Watch (PEW) on Friday said country is being deliberately pushed towards the most serious water crisis of its history.
Water scarcity has become a serious issue which is being ignored by all the stakeholders despite knowing that it is the biggest threat to our agriculture and industry, it said.
Dr. Murtaza Mughal said that insufficiency of water has started hurting all the sectors including power generation.
Some politicians funded by enemy countries continue to oppose construction of dams to bankrupt the country, he added.
He said that Government should do something about it before it take economy and country as hostage paving way unfortunate consequences.
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12. 12. 14
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The Pakistan Economy Watch (PEW) on Thursday bitterly criticised nepotism and corruption in the FPCCI which has disappointed all the stakeholders including business community.
The Apex Chamber has been stagnant since decades therefore a change has become imperative in it, said Dr. Murtaza Mughal, President PEW.
Talking to a delegation of business community, he said that FPCCI has become a studio where photo sessions have become the most important feature.
The leaders of the FPCCI are frequently accused of nepotism, corruption and exploitation of the business community which has dented its reputation, he added.
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08. 12. 14
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The Pakistan Economy Watch (PEW) on Sunday said the Kalabagh dam (KBD) is one of the most unfortunate mega project in the history of Pakistan.
It has suffered setbacks owing to political interference, especially by the politicians of two provinces who continue to oppose it without knowing the benefits and ground realities.
There is a strong lobby which does not want to see this dam being constructed, the same lobby continue to delay Thar coal project, said Dr. Murtaza Mughal, President PEW.
Reputed engineers and technocrats continue to recommend since decades that the survival of the country lies in the construction of Kalabagh dam but governments have not moved in that direction, he said while talking to Raja Jahangir Akhtar, who is on hunger strike for the construction of dams.
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06. 12. 14
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Oil importing nations to get benefit worth 1.4 trillion
The Pakistan Economy Watch (PEW) on Friday said prices of all petroleum products can be reduced while keeping government’s margin intact.
The price of petrol can be reduced by Rs 16 which will give benefit to masses and industry to reduce inflation drastically, said Dr. Murtaza Mughal, President PEW.
He said that if country buy a barrel for dollar 67 and add $ 2freight premium, 9 per cent handling, bank, LC charges, marine Insurance, 3.8 percent wharfage charges, 3.5 percent oil companies margin and 10 per cent refining cost, the prices will be Rs 56.53.
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01. 12. 14
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Nawaz move to cut oil price lauded
Opec-US price war to benefit billions of masses across globe
The Pakistan Economy Watch (PEW) on Sunday lauded another major oil price cut by the Prime Minister Nawaz Sharif which will positively impact masses and the economy.
The price of oil has fallen for nine straight weeks to $66 per barrel in the international market which merits reduction in prices of essential items and electricity at home, it said.
The burden of surge in the oil price is immediately transferred to the masses by the government while business community quickly calculate the difference to hike prices of their products but process of reduction in the prices is very slow in case of oil fall, said Dr. Murtaza Mughal, President PEW.
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28. 11. 14
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The Pakistan Economy Watch (PEW) on Thursday said shale oil and gas is the only option to revolutionise the energy sector of Pakistan settling energy crisis forever.
Pakistan has estimated reserves of 105 trillion cubic feet (TCF) of shale gas enough to meet all the demand for next 45 years while 9.1 billion barrels of shale oil can satisfy country’s demand for next 61 years resulting in zero trade deficit.
Recently formulated Shale Oil and Gas Regulatory Framework is not strengthen enough to bring desired results therefore it must be beefed up immediately, said Dr. Murtaza Mughal, President PEW.
Shale oil and gas should be high on the government’s agenda as it will reduce burden on national exchequer and its impact on environment would not be as bad as that of coal.
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24. 11. 14
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Pakistan stands 10th in $431 billion fake medicines market
The Pakistan Economy Watch (PEW) on Sunday said unsuspecting masses are facing growing threat from fake medicines which must be tackled immediately.
Weak laws, lax supervision, minor punishments and nominal fines are enough to attract criminals to this low-risk and high-return business while the same in sufficient to discourage investment in the pharma sector, it said.
Government should take immediate action to dislodge the criminal networks earning billions from this cynical trade, said Dr. Murtaza Mughal, President PEW.
WHO report suggests that ratio of fake medicines in developed countries is one percent; it is 30 percent or more in developing markets while 30 to 40 percent medicine sold in Pakistan are fake.
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19. 11. 14
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The Pakistan Economy Watch (PEW) on Tuesday proposed steps to stop massive recirculation of expired medicines in Pakistan.
Fiftyone percent of all the medicines used by humans are in shape of pills and capsules and every pharmaceutical produces billions of tablets annually.
Many tablets get expired on shelves which are recirculated by some elements for profit which must be stopped, said Dr. Murtaza Mughal, President PEW.
He said that recirculation of expired drugs can be discouraged if authorities decide to make embossing of batch number and expiry date on every tablet compulsory.
Embossing batch number and expiry date on every tablet is mandatory in many countries but the issue is yet to win attention of authorities in Pakistan, he added.
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17. 11. 14
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The Pakistan Economy Watch (PEW) on Sunday said government’s new energy load management plan is flawed and unfeasible in the prevailing circumstances.
The recently announced electricity and gas load management plan which prefers textile sector over masses is highly faulty and largely suppositional, it said.
The decision shows a major policy shift which will please the influential textile sector but it may hardly work for a month only, said Dr. Murtaza Mughal, President PEW.
He said that the country’s malfunctioning energy system lacks capacity to exempt the Punjab’s textile industry from loadshedding without compromising other critical sectors.
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15. 11. 14
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Pharmaceuticals asked to improve quality of products
Int’l donors buying medicines from other countires for Pakistan
The Pakistan Economy Watch (PEW) on Friday asked the pharmaceutical companies to improve quality of their products.
Manufacturers must refocus to address current processes, practices and systems, and take a hard line on improving their overall quality and compliance efforts, it said.
Excessive attention on new drugs and profits has compromised the quality of medicine manufacturing facilities in Pakistan, said Dr. Murtaza Mughal, President PEW.
Many companies in Pakistan have failed to prefer quality over other consideration while paying little attention to corrective and preventive actions, complaint investigation, product rejections, recalls, deviations, audits, inspections and monitoring, he said.
Dr. Murtaza Mughal said that it is embarrassing that international donors would buy medicines from other countries to distribute among displaced or people affected from natural disasters.
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10. 11. 14
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The Pakistan Economy Watch (PEW) on Sunday said rising population of youth can become a global threat to political and economic stability if not tackled properly.
The situation would be critical in the developing countries housing 85 percent of the world’s young population, it said.
Unemployment has steadily been increasing in the young pushing them to crimes, extremism, illicit activities and narcotics which has a destabilising effect on societies and economies, said Dr. Murtaza Mughal, President PEW.
He said that governments and the private sector are not discharging their responsibilities to change the lives of those forced to live on the margins of society which is unfortunate.
Dr. Murtaza Mughal said that almost half of the global population is under 25, with 1.3 billion people are between the ages of 12 and 24 while most of them lack job or business opportunities.
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02. 11. 14
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Transit facility to India to hit national, economic interests
Indian wants to use wheat as a political tool vs Pak
The Pakistan Economy Watch (PEW) on Saturday said India should not be given transit facility to transport its wheat to Afghan market as it is against our national interests.
Indian wish, if realised, could have devastating impact on agriculture, agro-based industry and society of the country, said Dr. Murtaza Mughal, PEW.
Government should not allow India a transit facility for wheat export to Afghanistan as Pakistan will lose Afghan market due to price difference which is result of Indian hidden subsidies offered to exporters, he said.
Moreover, he said, sub-standard Indian wheat carry bugs which poses a major threat to our wheat crop and public health.
Dr. Murtaza Mughal said that Indian wheat would also be smuggled into Pakistan hitting entire pricing mechanism and raising healthcare issues in one of the most underdeveloped province of Khyber Pakhtunkhwa.
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23. 10. 14
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Gas revolution taking place in Pakistan
The Pakistan Economy Watch (PEW) on Thursday said energy mix of Pakistan is being transformed in Pakistan which will have a positive impact on every sector or the economy.
The recently-introduced LNG policy is radically distinctive which will help balance energy mix, reduce dependence on oil and transform lives of millions of people while reducing inflation, oil import bill and pollution, it said.
Availability of LNG is set to grow but may not rise as fast as millions of consumers including operators of CNG stations would hope, said Dr. Murtaza Mughal, President PEW.
Ha said that LNG offers a clean as well as reliable alternative to coal, costly petrol, it is answer to the shortages of natural gas and its advantages as a transportation fuel are stronger than ever.
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20. 10. 14
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PEW calls for improved collateral laws, proper implementation
Reforms, reduced legal constraints to credit expansion demanded
The Pakistan Economy Watch (PEW) on Sunday said lack of access to credit is on the key factor keeping Pakistan underdeveloped.
Like many other developing countries, private sector in Pakistan is facing problem of insufficient collateral which has restricted its access to loans, it said.
Some banks in country would prefer to lend against real estate discounting other assets like machinery or inventory which sometimes worth more than land, said Dr. Murtaza Mughal, President PEW.
In a statement issued here today, he said that assets of a company other than land should not be considered as dead capital that can only be used for production.
Assets other than property like goods etc. have the debt capacity that must be utilised by lenders to give a boost to economy, he said.
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13. 10. 14
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The Pakistan Economy Watch (PEW) on Sunday demanded of the government to magnify its focus on construction of nuclear power stations, the second cheapest source of energy.
Pakistan is facing great difficulties in construction of dams; it should try to overcome obstacles but at the same time establish more nuclear power stations to counter energy crisis which has compromised growth, it said.
Some politicians have transformed technical issue of Kalabagh dam into a political issue and connected it to integrity of Pakistan which is unfortunate, said Dr. Murtaza Mughal, President PEW.
Similarly, he said, pace of progress on Diamer-Bhasha dam, contemplated in 2006 remains highly unsatisfactory.
Pakistan cannot raise US$14 billion for construction of the Diamer-Bhasha dam, WB and ADB have stopped funding of the dam to please India while US is supporting the project in statements only, he added.
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11. 10. 14
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The Pakistan Economy Watch (PEW) on Friday asked the government to streamline the property sector so that it can attract massive local and foreign investment.
Pakistan urgently needs to draw advantage from the Asian property boom led by China through urgent reforms and transparency, it said.
Real estate deals in China and other Asian nations reached a record $34 billion in the last quarter but Pakistan could not attract any such deal due to lack of proper rules and regulations, security and other issues, said Dr. Murtaza Mughal, President PEW.
Not a single Pakistan city is listed among the top destinations for commercial property investments in Asia that attracted over 82 billion dollars in one year which is disappointing, he said.
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08. 10. 14
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The Pakistan Economy Watch (PEW) on Wednesday said Government’s claim to double exports in three years’ time is highly exaggerated.
The Federal Commerce Minister recently said that Government is to introduce reforms in the next budget to lift exports by 100 per cent until 2018 is idealism and contrary to the ground realities, it said.
Textile sector is the largest foreign exchange earner for the country that is mostly located in Punjab and remained inoperative because of energy shortages, said Dr. Murtaza Mughal, President PEW.
He said that Pakistan’s main exports include cotton and knitwear (28 percent of total exports); bed wear, carpets and rugs (8 pc), rice (8 pc) and leather, fish, sports goods and fruits and vegetables which cannot be doubled in absence of a political will.
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30. 09. 14
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Member Oil Orga appionted illegally
The Pakistan Economy Watch (PEW) on Monday said that recent appointment of Member Oil in Oil and Gas Regulatory Authority (Ogra) is against the rules and regulations.
It can hamper the working of the Ogra which is already performing below the expectations of stakeholders, it said.
In a statement issued here today, Dr. Murtaza Mughal said that the former petroleum minister Dr. Asim appointed former DG Oil of the petroleum ministry as Member Oil in Orga after his retirement.
The government rejected the proposal of extension in his service of completion of his term which left the vacancy vacant.
Afterwards, the additional charge of the post was given to an additional secretary of the Cabinet Division which was illegal as appointment against the post requires relevant qualification and twenty years of experience in the field.
Murtaza Mughal said that the new appointee lacks both criteria as per the Section 3(5) of the Ogra Ordinance; it also pave way for conflict of interest as Orga reports to cabinet Division in administrative issues.
The slot in question is for technocrats and not bureaucrats and the government is not setting a good example by violating merit, said Dr. Mughal.
27. 09. 14
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Rich blocking social mobility of the poor
The Pakistan Economy Watch (PEW) on Friday said that government should ensure economic justice so that society can get balanced and poor could gain some relief.
Budgets since last three decades have not coped rightly with all the economic classes of the society aimed at appropriate distribution of wealth which has resulted in wide gap between rich and poor.
The increasing gulf between wealthy and underprivileged can only be bridged through just taxation to raise enough money for welfare of masses, said Dr. Murtaza Mughal, President PEW.
Tens of millions are lagging behind which need programmes to lift them up economically by taxing the privileged who continue to enjoy unjustified concessions since long, he added.
The government had claimed to tax rich to overcome economic crisis but the axe fell on the poor making life of majority miserable while measures to help disadvantaged to work their way up the economic ladder have remained cosmetic.
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22. 09. 14
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Govt efforts to reduce energy poverty lauded
Income, energy scarcity linked together
The Pakistan Economy Watch (PEW) on Friday lauded the government for keeping energy high on agenda despite political crisis so that energy poverty can be reduced in the country.
Well-being of large numbers of people in developing countries is negatively affected by very low consumption of energy which is fundamental to improving quality of life and is a key imperative for economic development.
Nearly 1.6 billion people still have no access to electricity which affects all aspects of development including livelihoods, access to water, agricultural productivity, health, population levels and education, said Dr. Murtaza Mughal, President PEW.
He said that none of the Millennium Development Goals (MDGs) can be met without major improvement in the quality and quantity of energy services in developing countries.
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15. 09. 14
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Criticism, efforts to drag Army in political struggle unfortunate
Politicians created the crisis, they should resolve it
The Pakistan Economy Watch (PEW) on Sunday lauded the neutrality of Amry amidst the political crisis which has taken country and economy as hostage.
Army leadership is against any intervention in the crisis and it is not involved in backing directly or indirectly the protesters camped out on Constitution Avenue, it said.
However, irresponsible talk, rough statements and flawed analyses by some quarters alleging Army for the political unrest compelled DG ISPR Major General Asim Bajwa to issue clarification which is unfortunate, said Dr. Murtaza Mughal, President PEW.
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08. 09. 14
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Deferral of Chinese president’s visit delighted enemies of Pakistan: PEW
PPP MNA from Mirpur Khas Munawar Ali Talpur on Sunday said PTI’s Chief Imran Khan and PAT’s leader Tahir ul Qadri inflicted heavy losses to the economy of Pakistan through their useless sit-ins.
Postponement of the scheduled visit of Chinese President delayed $34 billion investment plans which is a great setback that pleased the enemies of Pakistan, he said.
Speaking at forum organised by Pakistan Economy Watch (PEW), Munawar Ali Talpur said that political protests can never be more important that economic stability.
He said that the two protesting leaders have damaged investment climate as well as image of Pakistan for which they will have to answer.
The PPP leader said that demonstrators have broken many agreements and they have no plan to remain peaceful therefore government should take action against them, adding that right decisions are always difficult.
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07. 09. 14
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People unwilling to sacrifice economy for politics
The Pakistan Economy Watch (PEW) on Saturday lauded the masses and the business community for thwarting call for civil disobedience and economic rebellion by an opposition leader.
The childish call was taken as an immature move by masses, business community, expatriates and even by the central leaders of the party whose chief issued it recently, said Dr. Murtaza Mughal, President PEW.
The demand was ignored by all and sundry which proves that masses have reservations but they are not highly disappointed with the performance of the incumbent government, he added.
He said that the private sector publically and absolutely rejected the idea while other sections of society that decided to remain silent over the matter also disliked the notion.
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05. 09. 14
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Retreating energy prices ray of hope for Pakistan
Govt LNG policy lauded
The Pakistan Economy Watch (PEW) on Thursday said retreating coal and LNG prices in the international market should be taken as a golden opportunity by policymakers to offset energy crisis in Pakistan.
Government has planned to produce 9000MW electricity with the help of imported coal whose prices has come down to 65 dollar per tonne after touching USD 130 in 2011 while LNG is available for 10 dollar per mmbtu which is a ray of hope for us, said Dr. Murtaza Mughal, President PEW.
Talking to Central Chairman APCNGA Pervaiz Khan Khattak and other stakeholders, he said that former government wanted to buy LNG from Qatar at the rate of USD 18 dollars per mmbtu which included kickbacks.
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05. 09. 14
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A Pakistani pharmaceutical company has received world-class recognition by the World Health Organization (WHO) for its Quality Control Laboratory becoming one in 33 countries worldwide and first in Pakistan to have received ‘WHO Pre-Qualification’.
The WHO Qualification is a three-year process beginning with a series of reviews and audit by their inspectors; after which the lab receives a Pre-Qualification if it complies with WHO Standards.
These standards and practices then have to be maintained for three years after which the laboratory can receive a Qualification.
A WHO Pre-Qualified Laboratory holds the authority to test and verify the quality of any drug, medication or formulation. Such a lab’s verdict is recognized worldwide by all related international agencies and organizations.
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01. 09. 14
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Wealth inequality resulting in mass unrest
The Pakistan Economy Watch (PEW) on Sunday said continued political instability has compromised government’s ability to generate revenues which will result in increased debt burden and inflation.
Generally governments rely on taxes, exports, debt and printing currency to meet their expanses but Pakistan has last two options as there is no desire to broaden tax base or trigger exports, said Dr. Murtaza Mughal, President PEW.
He said that economy has never responded positively to uncertainty hence insufficient tax income will force government to borrow more from different sources increasing debt burden which has already crossed over 60 per cent of the GDP.
Alternatively, government can opt to print currency eroding exchange rate and triggering inflation, he added.
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27. 08. 14
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Speculators must be stopped from plundering central bank reserves
The Pakistan Economy Watch (PEW) on Tuesday expressed grave concern over retreat of rupee and suggested some control on free movement of foreign exchange to stop erosion in the value of local currency.
The political situation is contributing to the devastation of economy while massive flight of capital is resulting in depleting exchange rates which must be stopped by restricting movement of dollar, said Dr. Murtaza Mughal, President PEW.
Temporary exchange controls can defuse the situation otherwise it will have a negative impact on masses and every segment of the economy besides ransacking central bank’s reserves, he said.
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25. 08. 14
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The Pakistan Economy Watch (PEW) on Sunday said political agitation will result in lowered ranking for country in various subjects including the World Bank’s next Doing Business Report compromising its image.
The World Bank in its 2014 publication lowered Pakistan’s ranking in ease of doing business from 106 in 2012-13 to 110 in 2013-14 which will be brought down in the next report due to political uncertainty, said Dr. Murtaza Mughal, President PEW.
Country is facing serious challenges but the iron-headed power players are bent on sacrificing national and economic interests augmenting worries of masses to achieve their goals which has damaged stock market, rupee and commodity markets, he added.
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22. 08. 14
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The Pakistan Economy Watch (PEW) on Tuesday sought a ban on import of live animals from the developed world saying that it can threaten lives of people and livestock.
The government has recently allowed import of live animals from western countries facing mad cow disease since decades without considering its consequences, said Dr. Murtaza Mughal, President PEW.
He said that there is no facility to know or treat the mysterious disease in Pakistan which has claimed lives of hundreds of people and millions of mammals in the developed world.
Pakistan lifted the ban after thirteen years due to western pressure which is against the national interests, he added.
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20. 08. 14
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The Pakistan Economy Watch (PEW) on Tuesday demanded accountability of the business leaders saying that economy cannot progress if people in important positions are not held responsible for thrie actions.
The power struggle among national business leaders to rule FPCCI is unfortunate which has resulted in uncertanity, it said.
The business leaders who were behind tens of millions of corruption in the construction of FPCCI capital office should come under inquiry, their assets must be scrutinised and they should be blacklisted, demanded Dr. Murtaza Mughal, President PEW.
He said that promotion of the economy can be ensured after free and equal representation of businesspersons in trade bodies most of whom have been held hostage by families, lobbies and groups of businessmen.
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18. 08. 14
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The Pakistan Economy Watch (PEW) on Sunday suggested changes in National Power Policy 2013 terming it contrary to the national interests.
The policy needs immediate review as it will serve no purpose except jacking up electricity price and draining foreign exchange reserves, said Dr. Murtaza Mughal, President PEW.
He said that policy claims to provide affordable electricity and settle energy crisis by 2017 which the steps government has taken are in the opposite direction.
Government has decided to generate 16000 megawatt of electricity using imported coal ignoring hydel power and 185 billion tonnes of coal in Thar.
Moreover, power sector is still dominated by bureaucrats and the appointment of qualified and professional people on key posts remain a far cry.
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14. 08. 14
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The Pakistan Economy Watch (PEW) on Thursday demanded separate lines for women car drivers on the CNG outlets across Pakistan to provide them some relief.
Women are 52 percent of the population but few drive cars therefore it would not be difficult to provide them relief in getting environment friendly fuel, said Dr. Murtaza Mughal, President PEW.
He said that CNG industry prospered during dictatorship while democracy proved a bad omen for it.
CNG was available across Punjab for 168 hours a week during Musharraf ear, its availability was brought down to 72 hours in the PPP-led government.
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24. 07. 14
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The Pakistan Economy Watch (PEW) on Wednesday said country would need 10.8 billion dollar to repay foreign debt in the on-going fiscal.
Policymakers are pinning hopes on foreign direct investment of privatisation to repay loans as it can only spare 6.5 billion dollars to discharge international obligations, said Dr. Murtaza Mughal, President PEW.
It appears that government will have to borrow more from international lenders to repay loans.
He said that the government has also borrowed three trillion rupees from domestic sources during the last fiscal year pushing up debt from Rs 14 trillion to Rs 17 trillion.
The incumbent government whose top officials frequently criticised former government for rackless borrowing has been obtaining 300 percent more funds from local lenders than what the PPP-led government used to borrow from domestic sources, he noted.
Dr. Murtaza Mughal said that government income was Rs 275 billion less than the projected figures while its expenditure exceeded by Rs 112 billion during the same period which is contrary to the pre-poll promises of PML-N.
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22. 07. 14
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Pakistan Red Crescent Society (PRCS) has appointed renowned columnist and President of the Pakistan Economy Watch Dr. Murtaza Mughal as motivational speaker.
Dr. Mughal has been assigned with the task to inspire youngsters towards volunteerism and deliver informative lectures at various places to promote the idea of volunteerism.
PRCS Chairman Dr Saeed Elahi while handing over papers of appointment to Dr. Murtaza Mughal said that attracting masses towards serving humanity is the best use of one’s spoken and litrery skills.
Volunteerism benefits both society at large and the individual volunteer and its importance cannot be undermined as it exceed all cultural, linguistic and geographic boundaries, he added.
He said that many of our volunteers become closely involved with the communities in which they work and live, engaging beyond the scope of their daily tasks.
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30. 06. 14
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Sale of profitable national assets to bridge deficit criticised
CNG sector again faces conspiracies of an influential group
The Pakistan Economy Watch (PEW) on Sunday lamented sale of profitable national assets to bridge budget deficit terming it a roll-call of blunders.
Policymakers are too much focused on reducing deficit which has pushed them into IMF trap, said Dr. Murtaza Mughal, President of PEW.
Government should have initiated privatization with the sale of unprofitable units after some reforms as sale of national assets amounts to kill the goose that lays the golden eggs.
Dr. Murtaza Mughal said that quick sale of state-owned companies cannot be justified under any circumstances as earlier privatizations have never proved fruitful.
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25. 06. 14
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Hydrocarbon regulator failed to take any major decision in 1.5 years
The Pakistan Economy Watch (PEW) on Wednesday said the top officials of Oil and Gas Regulatory Authority (Ogra) have been avoiding important decisions since long pushing the critical energy sector to uncertainty.
The oil and gas sector regulator could not take a single important decision during last one and a half years due to lack of quorum.
As per the law, Ogra needs consent of at least three members to reach a decision which could not be materialised pushing the gas utilities, foreign and local investors, LPG and CNG sector in abject uncertainty, he added.
Murtaza Mughal said that the Supreme Court relieved member finance of Ogra a year back but he has not relinquished charge; he has not attended office since the decision but continue to get salary which is not only amazing but also violation of the court’s decision.
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22. 06. 14
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Govt claims on agri tax questioned
The Pakistan Economy Watch (PEW) on Sunday questioned government claims about agriculture tax fearing that this tax would not be imposed during the PML-N rule.
It is highly unlikely that the incumbent government would tax agricultural income of absentee landlords to put economy on tract and end dependence on loans and grants, it said.
The top officials of the federal government say that provinces are not willing to tax landholders while ignoring the fact that their own party is ruling Punjab since seven years, said Dr. Murtaza Mughal, President PEW.
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16. 06. 14
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Development budget may be slashed to boost savings
Emphasis on stabilisation to discourage development, delay reforms
The Pakistan Economy Watch (PEW) on Sunday said reduction in the development budget has become imperative as government’s income has been overestimated while expenditure has been played down in the budget 2014-15.
The government’s focus on savings pushed it to cut last year’s development budget by Rs 115 billion due to missed revenue targets. There was little success in curtailing expanses as expenditure allocations were enhanced by Rs 83 billion in 2013-14.
The situation may not change this year forcing government to slash current Public Sector Development Programme (PSDP) worth Rs 525 billion, said Dr. Murtaza Mughal, President PEW.
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14. 06. 14
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Budget prefers politics over economy
The Pakistan Economy Watch (PEW) on Friday said Government income due to taxation has been miscalculated in the budget as Federal Board of Revenue’s (FBR) tax collection target of Rs 2810 billion is unachievable.
Government has failed to broaden the tax base leading it to increase burden on existing taxpayers and to widen the scope Withholding Tax (WHT) as well as indirect taxation, it said.
The FBR has planned to meet the target through reliance on utility bills, collecting Rs 50 billion through WHT, and other initiatives but it would miss the target as usual, said Dr. Murtaza Mughal, President PEW.
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12. 06. 14
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Ignoring ground realities can result in acute energy crisis
The Pakistan Economy Watch (PEW) on Wednesday said power sector budget is based on assumptions of the policymakers which will not improve situation but result in acute energy crisis compromising GDP growth.
Government has expected a lot from dysfunctional power sector which will prove wrong by the passage of time, it said.
A modest amount of Rs 115 billion has been allocated for Wapda and Pakistan Atomic Energy Commission, subsidy of PEPCO has been reduced by almost Rs 90 billion while nothing has been earmarked for retiring the circular debt assuming that power sector is capable enough to handle it, said Dr. Murtaza Mughal, President PEW.
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09. 06. 14
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The Pakistan Economy Watch (PEW) on Sunday said that budget will disappoint masses, increase unemployment and poverty and reduce exports.
Only poor will feel pain of the IMF-backed austerity measures imposed on the poor to reduce the budget deficit, it said.
Government has moved a little to expand tax net while focusing on existing taxpayers which will prompt tax theft to keep economy destabilised and dependent on foreign loans, said Dr. Murtaza Mughal, President PEW.
The policymakers have decided not to annoy traders and large part of the business community that don’t want to pay taxes, he noted.
Dr. Murtaza Mughal said that the government is more interested in executing projects that can result in their swift popularity rather than resolving real issues confronting economy.
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