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Daily Top-10 Current Affairs MCQs / News (October 12, 2022) for CSS, PMS

Shahzad F. Malik
Daily Top-10 Current Affairs MCQs / News (October 12, 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

October 12, 2022: National / International Current Affairs

1. ECP refuses to delay by-polls, Sindh LG elections

• Putting all the uncertainties to rest, the Election Commission of Pakistan (ECP) on October 11, 2022 announced that by-elections on eight national and three provincial assembly constituencies would be held as per the schedule.
• A high-level meeting chaired by Chief Election Commissioner Sikandar Sultan Raja also decided to hold the second phase of Sindh local government elections on October 23.
• The by-polls on eight out of 10 National Assembly seats, that had fallen vacant after the resignation of PTI lawmakers were accepted by NA Speaker Raja Pervaiz Ashraf, will take place on October 16. The poll on NA-45 (Kurram) will not take place due to the security situation, while one lawmaker, Abdul Shakoor Shad, has been reinstated by the Islamabad High Court after he had challenged acceptance of his resignation

2. `Beleaguered` Punjab home minister quits

• Punjab Home Minister Mohammad Hashim on October 11, 2022 resigned for `personal reasons, with a pledge to continue serving Pakistan Tehreek-i-Insaf as a worker`.
• The retired colonel had been under PTI pressure, with party loyalists criticising him for `being soft on the PML-N`, which they say had been booking and picking up its workers in Punjab and getting off scot-free.
• `Of late, he was questioned by party workers and leaders alike how hundreds of containers got to Islamabad (to block the PTI threatened long march) in presence of the PTI government in Punjab and why Col Hashim had not been able to check [the practice],` a party insider told Dawn.
• Mr Hashim, whose handwritten resignation note was also shared widely on social media, had also stirred a hornet`s nest when he denied that Shahbaz Gill, chief of staff of PTI Chairman Imran Khan, had been tortured by law enforcers. But the last straw ostensibly came when he said no state resources would be used to facilitate PTI`s potential long march

3. Moody`s downgrades five major banks

• In a follow-up to Pakistan`s sovereign rating downgrade, Moody`s Investors Service on October 11, 2022 downgraded the long-term deposit ratings and long-term Foreign Currency Counter Risk Rating (CRR) to Caal from B3 of five leading Pakistani banks.
• These banks include Allied Bank Ltd (ABL), Habib Bank Ltd (HBL), MCB Bank Ltd, National Bank of Pakistan (NBP) and United Bank Ltd (UBL). `The outlook on all banks` deposit ratings remains negative,` said the New York-based rating agency in a statement.
• Finance Minister Ishaq Dar had strongly questioned the Moody`s sovereign rating downgrade, saying it was done unilaterally and without confronting the authorities even though one of the factors behind the negative rating action was the purported rescheduling of Paris Club debt which was not at all under consideration of the government of Pakistan. He also challenged the data used by Moody`s in reaching the sovereign`s rating downgrade decision

4. Civil govt main `interlocutor` in Washington-Islamabad ties: State Dept

• While Deputy Secretary Wendy Sherman met with Chief of Army Staff Gen Qamar Javed Bajwa during his visit to Washington last week, the civilian government in Pakistan remains the principal `interlocutor` in bilateral ties, the US State Department said on October 11, 2022.
• At a news briefing in Washington, spokesperson Ned Price also dismissed rumors about misappropriation of flood relief funds, saying that the US closely monitors the aids it sends to a disaster-hit region.
• Responding to a question, he said that Deputy Secretary Sherman `did have the opportunity` to meet Gen Bajwa in Washington last week

5. Sri Lanka to keep `middle-income` status, but seek concessional loans

• Sri Lanka will remain a middle income country but request the World Bank to grant it some loans generally offered to poorer nations, the president`s office said on October 11, 2022, clarifying a cabinet spokesperson`s earlier comments on the matter.
• The island nation of 22 million is facing its worst economic crisis in more than seven decades and the spokesperson said earlier in the day that the government would seek to change its economic status to `low income country` for easier funding. President Ranil Wickremesinghe`s office, however, said the status change would not happen.
• `Sri Lanka will remain a middle-income country, the office said in a statement. `We will request the World Bank to grant the country eligibility to obtain loans offered by the International Development Association (IDA).` The IDA is an arm of the World Bank that helps the world`s poorest countries with the aim of reducing poverty by providing zero to low-interest loans and grants

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6. G7 puts onus on Putin for Ukraine missile strikes

• World powers said on October 11, 2022 after talks on Ukraine with President Volodymyr Zelensky that they would hold Russian leader Vladimir Putin responsible for recent widespread aerial strikes on cities including Kyiv.
• `We condemn these attacks in the strongest possible terms and recall that indiscriminate attacks on innocent civilian populations constitute a war crime,` the G7 said in a statement after a video conference.
• `We will hold President Putin and those responsible to account.

7. Lebanon, Israel clinch maritime border deal for energy exploration

• Lebanon and Israel have reached a historic agreement demarcating a disputed maritime border between them following years of US-mediated negotiations, Israeli Prime Minister Yair Lapid said on October 11, 2022.
• The deal would mark a significant compromise between states with a history of war and hostility, opening the way for offshore energy exploration and easing a source of recent tensions.
• `This is a historic achievement that will strengthen Israel`s security, inject billions into Israel`s economy, and ensure the stability of our northern border,` Lapid said in a statement

8. King Charles III to be crowned in May

• The coronation of King Charles III will take place on May 6 next year, Buckingham Palace announced on October 11, 2022, vowing to reflect the monarchy`s historic traditions and its modern role.
• Charles, 73, will be formally crowned at London`s Westminster Abbey, following a long tradition dating back more than 900 years.
• The monarch`s wife, Queen Consort Camilla, 75, will also be crowned, the palace confirmed. May 6 is the fourth birthday of Charles` grandson Archie, the son of Prince Harry and his wife Meghan

9. 54 poor nations urgently need debt relief, says UN

• Cascading global crises have left 54 countries home to more than half of the world`s poorest people in dire need of debt relief, the UN said on Tuesday.
• In a new report, the United Nations Development Programme warned that dozens of developing nations were facing a rapidly deepening debt crisis and that `the risks of inaction are dire`.
• The UNDP said without immediate relief, at least 54 countries would see rising poverty levels, and `desperately needed investments in climate adaptation and mitigation will not happen`

10. Allen fires as NZ power past Pakistan

• Finn Allen showed his form ahead of the Twenty20 World Cup by topscoring for New Zealand with a disciplined batting display in their nine-wicket romp over Pakistan in Christchurch on Tuesday in the tri-series.
• Allen blasted six sixes in his 62 off 42 balls, marking himself as a player to watch when the T20 World Cup starts later this month, as the Black Caps chased down their target of 131 with ease at Hagley Oval.
• The victory leaves the hosts and Pakistan each with two wins and one defeat before the Black Caps next face Bangladesh on Wednesday, also in Christchurch

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