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Daily Top-10 Current Affairs MCQs / News (June 25, 2022) for CSS, PMS

Shahzad F. Malik
Daily Top-10 Current Affairs MCQs / News (June 25, 2022) for CSS, PMS
WELCOME TO CSS TIMES DAY BY  DAY CURRENT AFFAIRS, YOUR BEST SOURCE FOR UP-TO-DATE AND DAILY TOP CURRENT AFFAIRS 2022 FOR PREPARATION OF CSS, PMS, BANKING, NTS, RAILWAYS AND ALL COMPETITIVE EXAMS.  “DAY TO DAY CURRENT AFFAIRS” BASICALLY IS TOP 10 NEWS SUMMARY ON CURRENT HAPPENINGS OF NATIONAL AND INTERNATIONAL IMPORTANCE FOR ALL EXAMINATIONS

June 25, 2022: National / International Current Affairs

1. Govt eyes coffers of wealthy to appease IMF

• The coalition government announced new tax measures on Friday, including a 10 per cent `super tax` on 13 large industries to raise an additional Rs465 billion in revenue, in an attempt to trim the budget deficit to revive the stalled International Monetary Fund (IMF) loan programme.
• High net worth individuals will also be subject to a `poverty alleviation tax`.
• Those whose annual income exceeds Rs150 million will be taxed at 1pc; for Rs200m at 2pc; Rs250m at 3pc; and Rs300m at 4pc of their income.
• The announcement comes amid hopes that the country will soon clinch an agreement to unlock a new tranche of IMF funds, which are needed to avert a balance-of-payments crisis

2. SBP gets $2.3bn Chinese loan

• Finally, the government succeeded to get rollover the Chinese loan of $2.3 billion and the State Bank of Pakistan (SBP) received the amount in its account on June 24, 2022.
• Finance Minister Miftah Ismail tweeted he was pleased to announce that Chinese Consortium loan of RMB15bn (roughly $2.3bn) has been credited into SBP account, increasing foreign exchange reserves.
• With the inflows of $2.3bn Chinese loan the total SBP reserves entered double digit to touch $10.5bn.
• Earlier on April 1, the rupee plunged to a historic low of Rs183.70 against US dollar in the interbank market after the SBP reported a massive outflow of $2.9bn. The SBP announced its foreign exchange reserves dropped to $12.047bn during the week ending on March 25 due to a major repayment of Chinese loans, while the rest was regular debt servicing

3. KP raises minimum wage to Rs26,000

• Setting a high bar for other provinces, Khyber Pakhtunkhwa has raised the minimum wage to Rs26,000 per month from Rs21,000.
• Chief Minister Mahmood Khan announced the increase on Friday in a speech at the provincial assembly, which met to approve the next fiscal year`s budget. He stressed that the increased wage limit should be implemented immediately.
• Other provinces currently have a minimum wage of Rs25,000. Similarly, the federal government has also fixed it at Rs25,000.
• The minimum wage is applicable to every citizen, regardless of employer, location or nature of work

4. AJK cabinet approves budget

• Azad Jammu and Kashmir (AJK) cabinet on Friday approved the region`s budget for the next Fiscal year to be unveiled on the floor of the Legislative Assembly on Saturday.
• The budget the first by PTI government after assuming office in August last year will be presented by minister for finance and inland revenue Abdul Majid Khan.
• Presentation of the budget was delayed by the AJK government in a bid to mount pressure on the federal government for withdrawal of the latter`s decision to impose cuts on the territory`s development and recurring budget in the wake of the country`s poor economic health

5. 3.5m BD children lack safe water after floods, says UN

• The United Nations said on June 24, 2022 that 3.5 million children in Bangladesh urgently needed safe drinking water following this month`s devastating floods.
• Unicef, the UN children`s agency, said it needed $2.5 million quickly in order to fund its emergency response.
• Relentless downpours last week inundated vast stretches of Bangladesh`s northeast, with troops deployed to evacuate households cut off from neighbouring communities.
• `The situation caused by flash noods in northeastern Bangladesh has deteriorated rapidly over the last week,` Sheldon Yett, Unicef`s representative to the South Asian country, told reporters in Geneva via video link

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6. Trump`s aides sought pardon after backing his defiance

• At least five congressional Republican allies of Donald Trump sought White House pardons after supporting his attempts to overturn his 2020 election defeat, witnesses told the US House of Representatives on Thursday during hearings related to the probe into the Jan 6, 2021, assault on the Capitol.
• Their names emerged at the end of a fifth day of hearings that focused on how the former president pressured top Justice Department officials daily in his final weeks in office to help him illegally hold onto power.
• Trump sought to replace acting attorney general Jeffrey Rosen with Jeffrey Clark, a Justice Department environmental lawyer and staunch supporter of his false claims that his defeat was the result of widespread fraud

7. Israeli forces` fire killed Al Jazeera journalist: UN

• The United Nations said on Friday it found that Israeli forces fired the shot that killed Al Jazeera journalist Shireen Abu Akleh, with Israel swiftly branding the UN`s findings unfounded.
• The Palestinian-American TV reporter, who was wearing a vest marked `Press` and a helmet, was killed on May 11 while covering an Israeli army operation in Jenin camp in the northern West Bank.
• `We find that the shots that killed Abu Akleh came from Israeli security forces,` UN Human Rights Office spokeswoman Ravina Shamdasani told reporters in Geneva. `It is deeply disturbing that Israeli authorities have not conducted a criminal investigation

8. Ukraine readies to cede key battleground city

• Ukrainian forces prepared on June 24, 2022 to retreat from the strategic city of Severodonetsk after weeks of fierce fighting, a setback that could pave the way for Russia to seize a larger swath of eastern Ukraine.
• The announcement came shortly after the European Union granted Ukraine candidate status in a show of support for the former Soviet republic.
• Russia has focused its offensive on the Donbas region of eastern Ukraine after being repelled from the capital Kyiv and other areas in the first weeks of the February invasion Since then its forces have gradually made progress despite encountering fierce resistance and sustaining heavy losses

9. Germany consigns 1930s abortion law to history

• Germany`s parliament on June 24, 2022 removed a Nazi-era law that limits the information doctors and clinics can provide about abortion.
• One of the most controversial sections of the penal code, paragraph 219a, prohibits the `promotion` of abortion, a crime punishable by `up to two years of imprisonment or a fine` The decision to finally consign the law to history came almost eight decades after its adoption in 1933, shortly after Adolf Hitler had taken power. `It is high time,` Justice Minister Marco Buschmann told parliament.
• It is `absurd` and `no longer in step with the times` that doctors are not allowed to provide complete information on abortion while `every troll and conspiracy theorist` is free to spout views about terminating pregnancies

10. EU grants Ukraine candidate status

• European Union leaders have granted `candidate status` to Ukraine in its bid to join the bloc, as tensions deepened over Russian gas supplies and Moscow`s forces closed in on key cities.
• In a show of support, the EU leaders agreed on June 23, 2022 to grant candidate status to Ukraine, as well as Moldova, although the two former Soviet republics face a long path before joining the bloc.
• Ukraine`s President Volodymyr Zelensky hailed the news as `a unique and historic moment`, adding: `Ukraine`s future is within the EU

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