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February 28, 2022: National Current Affairs MCQs
1. Foreign trips cost kitty about Rs70m last year, NA told
• Only days after Prime Minister Shehbaz Sharif announced a national austerity plan amid a severe financial crisis, the National Assembly was informed on February 27, 2023 about the exorbitant expenditure on foreign junkets of cabinet members and the purchase of protocol vehicles, during the government`s first nine months in power.
• The `partial` and `incomplete` information was pro-vided by the government through written replies in response to various questions posed by members on a day that Deputy Speaker Zahid Akram Durrani deferred pretty much the day`s entire agenda owing to the absence of ministers, their deputies, and other cabinet members from the house after expressing his displeasure over the situation.
• In response to a question asked by Ghous Bux Mahar of the Grand Democratic Alliance (GDA), the lower house was informed that Rs63.71 million was spent on the foreign visits of 23 members of the federal cabinet during the first nine months of the coalition government
2. Two soldiers, one child martyred in North, South Waziristan attacks
• Two soldiers and a child embraced martyrdom in separate incidents in North Waziristan and South Waziristan, officials confirmed.
• According to local officials, armed militants stormed a check post in the Noorkhel area of North Waziristan late Sunday night.
• The terrorists, armed with advanced weaponry, were engaged by security forces. During the operation, two soldiers embraced martyrdom while two attackers were also gunned down, according to a statement issued by the military`s media wing, Inter-Services Public Relation (ISPR).
• The martyred soldiers were identified as 25-year-old Sepoy 1mranullah from Bajaur and 21-year-old Sepoy Afzal Khan from Upper Dir.
• Two terrorists were also apprehended during the operation, the statement added
3. Early flood warning systems being installed in GB
• Early warning and radar systems under the Glacial Lake Outburst Flood (GLOF) Project are being installed in over 200 valleys across Gilgit-Baltistan, Chief Secretary Mohyuddin Ahmed Wani said on February 27, 2023.
• The project will have safe havens, well-equipped high-tech schools, dispensaries and community centres.
• An Italian team recently trained the individuals selected for handling the early warning system. The personnel were trained in operating components like advanced automatic weather stations, rain gauges, snow depth sensors, water depth gauges, water discharge gauges, data loggers and warning posts
4. World Bank lends $400m to three Sri Lankan banks
• The World Bank has offered a lifeline to three private banks in bankrupt Sri Lanka on February 28, 2023, lending them $400 million to finance imports of essential food and medicines with an IMF bailout stalled.
• The World Bank`s private sector funding arm, the International Finance Corporation (IFC), is lending the trio the funds with Sri Lanka`s economic crisis still rumbling on.
• The South Asian nation of 22 million has been enduring severe hardships since it ran out of foreign exchange to finance essential food, fuel, medicines and fertiliser in late 2021. It defaulted on its debt in April 2022
5. Abu Dhabi state firms to pay Malaysia $1.8bn to settle 1MDB dispute
• Abu Dhabi`s International Petroleum Investment Co (IPIC) and its unit Aabar Investments PJS have agreed to pay $1.8 billion to settle a legal dispute over the scandal at Malaysian state fund 1Malaysia Development Berhad (1MDB), Malaysia`s finance ministry said on February 28, 2023.
• Malaysia in 2018 had filed a challenge in a London court against a settlement agreement between 1MDB and IPIC that had been negotiated a year earlier during the premiership of former Malaysian prime minister Najib Razak.
• Najib was sentenced to 12 years in jaillast year after being found guilty in a 1MDB-related corruption case. According to Bloomberg, the Federal Court is currently hearing Najib review bid to overturn his conviction. Najib has applied for a royal pardon, but remains on trial in four other cases, each carrying prison terms and hefty financial penalties
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