PPI Original Text (PPI-OT) – Pakistan’s economy brought down intentionally keeping country dependent, ensuring Indian supremacy was planned

Islamabad, May 14, 2012 (PPI-OT): The Pakistan Economy Watch (PEW) on Sunday said efforts of bureaucracy to shelve Thar coal gasification project are unfortunate.

Statement of Member Energy, Planning Commission Shahid Sattar regarding the economic unviability of the project could be result of the continued campaign of powerful petroleum mafia, it said.

How come a project became unworkable in which federal and provincial government haves invested a lot while dozens of foreign companies, multinationals and reputed individuals has expressed interest, Dr. Murtaza Mughal, President PEW questioned.

The stance of Planning Commission is nothing but a trick to deceive masses, he said.

He said that earlier the incumbent government dumped Kalabagh dam project in the name of provincial harmony and now Thar treasures seen for decades as key to energy self-reliance are being compromised.

Dr. Murtaza Mughal said the development could be part of an international conspiracy to keep Pakistan dependent on foreign aid and ensure Indian hegemony in the region.

He said that some experts are of the opinion that energy crisis, tax collections and mismanagement were engineered to please foreign masters who want to see Pakistan as a consumer market.

Fiscal and current account deficit has crossed all limits while tax collections have dropped to 8.6 per cent of the GDP. No steps were undertaken to tax the influential sectors enjoying unjust exemptions while tax evasion was encouraged systematically, he informed.

Dr. Murtaza Mughal said that the inefficient government has brought situation to an extent where it will have no option but to carry a begging bowl and knock the doors of IMF to arrange external payment for the next fiscal estimated to be around US 10 billion dollars.

Other major donors are already fed up of broken promises to introduce reforms and reduce expenditure while IMF will be in no hurry to help Pakistan avoid crisis, he opined.

Mismanaging everything to bring economy down was a plan which has now become evident, he said.

For more information, contact:
Dr. Murtaza Mughal
Pakistan Economy Watch
402, 4th Floor, Gulistan Khan House, Fazal-e-Haq Road,
82-East, Blue Area, Islamabad
Tel: +9251 251 0375
Fax: +9251 280 2449
Cell: +92321 515 7671
Email: president@pakistaneconomywatch.com
Web: www.pakistaneconomywatch.com

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