Day by Day Current Affairs (October 31 2019) | MCQs for CSS, PMS
Shahzad F. Malik
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October 31, 2019: National Current Affairs
1. Pakistan wants IMF to separate FATF from programme
Pakistan has asked the International Monetary Fund (IMF) to relax conditionalities under the $6 billion Extended Fund Facility (EFF) relating to the Financial Action Task Force (FATF) and issuance of sovereign guarantees to help raise over $4bn from domestic and international markets.
Pakistan has budgeted about $3bn bonds (about Rs450bn) Islamic Sukuk and Eurobond to be launched in the international capital markets during the current fiscal year to meet targets under the EFF for foreign inflows. Separately, the government has planned to raise about Rs200bn from domestic Islamic banks for the power sector to scale down circular debt.
`We are dying to complete these transactions at the earliest,` a senior official told, adding that the capital market conditions were never as conducive as at present. He said the return on bonds had plummeted to almost zero in the international capital markets and investors were finding it hard to secure profits on secured papers. `This provides an ideal opportunity for Pakistan to tap international capital markets to secure sovereign bonds at a minimal interest rate, the official said.
2. Coin issued to commemorate Guru Nanak`s 550th birth anniversary
Prime Minister Imran Khan on October 30, 2019 announced that the government has issued a commemorative coin to mark 550th birth anniversary of Guru Nanak Dev Ji, the founder of Sikh religion, and invited Indian cricket star and former minister Navjot Singh Sidhu to the inauguration of the Kartarpur corridor project on Nov 9.
Mr Sidhu accepted the invitation and assured the government that he would definitely attend the function, said spokesman of the ruling Pakistan Tehreek-iInsaf. `Mr Sidhu expressed gratitude to Prime Minister Imran Khan for inviting him to the event.
The government sent an invitation to Mr Sidhu, who had attended the oath-taking ceremony of Prime Minister Imran Khan last year and had come under immense criticism in India, especially by the ruling Bharatiya Janata Party (BJP), for hugging Pakistan Army chief Gen Qamar Bajwa who had told him about the peace initiative.
3. WBG president arrives on three-day visit
World Bank Group (WBG) President David Malpass arrived here on October 30, 2019 on a three-day visit; his first trip to Pakistan since assuming WBG leadership on April 9, 2019.
While in Pakistan, Malpass will meet with PM Imran Khan, Sindh chief minister, federal and provincial ministers, advisers, the State Bank of Pakistan (SBP) governor, members of Parliament, beneficiaries of the Benazir Income Support Programme (BISP) and representatives of the private sector. “My visit to Pakistan provides a good opportunity to discuss the need for important reforms to stabilise the Pakistani economy and accelerate broad-based growth,” said Malpass, and added, “I look forward to hearing from Prime Minister Imran Khan and the chief ministers on their priorities and how the WBG can best work with Pakistan to improve its business and jobs environment, and create conditions for people to gain education, skills, and good health.”
During his visit, Malpass will discuss the economic reforms, including harmonizing the sales tax across Pakistan to further improve the business environment and enhance revenue collection; lowering the circular debt in the power sector and increasing the share of renewable energy for environmental sustainability; harnessing a greater role for women in the economy; and unleashing digital payments to boost financial inclusion.
4. Pakistan among 54 nations praising China`s human rights record
China`s treatment of ethnic Uighurs in Xinjiang province came under debate at the United Nations, with 54 nations praising Beijing`s `remarkable achievements in the field of human rights` but 23 states assaihngits record.
It all began when the 23 nations mostly western backed a British statement condemning Beijing`s track record.
However, China`s allies countered the move with a statement of their own that won even broader support, with 54 states supporting a Belarus text that heaped effusive praise on Beijing. They included Pakistan, Russia, Egypt, Bolivia, the Democratic Republic of Congo and Serbia.
The duelling statements at the UN General Assembly are non-binding, but highlight the divide on China`s human rights record particularly as Beijing moves to flex its diplomatic and economic clout abroad.
5. India to formally divide held Kashmir today
India`s government will formally break up the occupied Jammu and Kashmir state into two federal territories on October 30, 2019, as part of a controversial move to tighten its grip over the disputed region that is at the heart of more than 70 years of hostility with Pakistan.
The Himalayan state comprises the Muslim majority Kashmir Valley, which is the bone of contention, the Hindu-dominated Jammu region and the remote, high altitude Buddhist enclave of Ladakh.
Under the new arrangement, Jammu and Kashmir will be clubbed as one union territory with some 12.2 million people and Ladakh, with a population of less than 300,000, spun off into another, both ruled directly by Delhi.
The Kashmir valley region of the India-held state is one of the world`s most militarised regions, where local fighters have waged a decades-long campaign against Indian rule.
6. Joy in Armenia, fury in Turkey as US House recognises `genocide`
Armenia rejoiced but Turkey was furious on October 30, 2019 after the US House of Representatives passed a historic resolution recognising mass killings of Armenians a century ago as genocide.
With tensions already high over Turkey`s assault on Kurdish-controlled areas of northern Syria, US lawmakers voted 405 to 11 on Tuesday in support of the measure to `commemorate the Armenian Genocide through official recognition and remembrance.
The move was a first for the US Congress, where similar measures with such direct language have been introduced for decades but never passed.
The resolution says the killing of 1.5 million Armenians by the Ottoman Empire between 1915 and 1923 amounted to genocide, a claim recognised by some 30 countries.
The United States and six Gulf allies announced sanctions on October 30, 2019 on 25 entities associated with Iran`s Islamic Revolutionary Guard Corps and Lebanon`s Hezbollah, in a move to tighten controls on both group`s finances.
The sanctions were set by Riyadh-based Terrorist Financing Targeting Centre, a two-year-old group that includes Saudi Arabia, Bahrain, Kuwait, Oman, Qatar and the United Arab Emirates in addition to the United States.
They targeted companies supporting the Basij Resistance Force, a subordinate group of the Revolutionary Guard, that the Treasury said are used `to oppress domestic opposition with brutal displays of violence` and supply fighters to regional conflicts.
Among the 25 was Iranian Bank Mellat and mining, manufacturing and investment firms that allegedly support the Basij.
8. UK set for Dec 12 election to break BREXIT deadlock
Britain will hold its first December election in almost a century after Prime Minister Boris Johnson won approval from parliament on October 29, 2019 for an early ballot aimed at breaking the BREXIT deadlock.
After the European Union granted a third delay to the divorce that was originally supposed to take place on March 29, the United Kingdom, its parliament and its electorate remain divided on how, or indeed whether, to go ahead with BREXIT.
Johnson, who had promised to deliver BREXIT on Oct. 31 “do or die”, demanded a Dec. 12 election after parliament – where he has no majority – frustrated his attempts to ratify the last-minute divorce deal he struck with the EU earlier this month.
9. Pakistan whitewash Bangladesh in women`s T20 rubber
Pakistan completed a clean sweep of Bangladesh in their women`s T20 International series at the Gaddafi Stadium here on Wednesday after winning the third and final game by 28 runs.
Batting first for the third consecutive fixture, Pakistan managed a modest total of 117-7 on the back of opener Javeria Khan`s second straight half-century. She scored a 48-ball 54 with seven fours to become the top-scorer of the series with 111 runs. It was Pakistan captain Bismah Maroof who was adjudged home side`s player-of-the series after scoring 108 runs.
While Javeria and Umaima Sohail (31 off 29 balls, two fours and one six) added 67 in 51 balls for the third wicket, no other batter could reach double figures.
10. Namibia clinch T20 World Cup berth
Namibia will appear at the T20 World Cup for the first time after beating Oman on October 29, 2019 in the qualifying event for next year`s tournament.
All-rounder J.J. Smit blasted 59 off 25 balls as Namibia beat Oman by 54 runs to progress to the eight team first round of the World Cup in Australia in October 2020.
Namibia posted 161-7 after choosing to bat, with Smit smacking five sixes in a match-winning innings following a steady 45 from Craig Williams.
Oman, who took part in the 2016 T20 World Cup, began well in reply as Khawar Ali and Agib Ilyas put on 57 for the second wicket after Jatinder Singh was removed for a first-ball duck.
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