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July 08, 2023: National Current Affairs MCQs News
1. IMF makes `rare` contact with political stakeholders
• In a `rare` move, ostensibly to seek assurances from political parties for a new lender-supported programme, a team from the International Monetary Fund (IMF) held meetings with the PTI and PPP leadership to gain support for the implementation of the $3 billion standby arrangement.
• The meetings came almost a week before a meeting of the IMF executive board will review the $3 billion arrangement for Pakistan on June 12, after a staff level pact was finalised.
• Pakistan was absent from an earlier schedule released in June, igniting speculation that the IMF was not going to release funds from an earlier programme that expired on June 30.
2. Economy faced serious imbalances in 2022: SBP
• The economy experienced serious imbalances in the calendar year 2022 while the existing troubles were compounded by an unfavourable external environment.
• The State Bank of Pakistan (SBP) on July 7, 2023 issued the annual Financial Stability Review for 2022 and found that financial system performance and resilience remained firm during the year.
• `The domestic headwinds including the twin deficits, high inflation, catastrophic flooding, delay in the completion of IMF programme reviews as well as the global challenges such as a fast-paced increase in commodity prices and monetary tightening by major central banks in advanced economies, manifested in the deteriorating macroeconomic conditions,` said the report
3. Mussarat Hilali sworn in as SC`s second woman judge
• The Supreme Court got its second woman judge on July 7, 2023 when Justice Mussarat Hilali took the oath of office.
• Chief Justice of Pakistan Justice Umar Ata Bandial administered the oath to Justice Hilali at a ceremony held at the Supreme Court`s auditorium.
• With her elevation, the Supreme Court`s strength has increased to 16, including two women judges. There is still a seat lying vacant.
• Last year in January, Justice Ayesha Malik became the first female judge of a high court elevated to the apex court
4. Justice Ibrahim takes oath as Peshawar High Court acting CJ
• Justice Mohammad Ibrahim Khan, the most senior judge, on July 7, 2023 took oath as the acting Chief Justice of the Peshawar High Court.
• Khyber Pakhtunkhwa Governor Haji Ghulam Ali administered the oath to him at a ceremony held at the Governor`s House. Judges of the high court, lawyers, caretaker ministers, government officials and others were in attendance.
• President Dr Arif Alvi had appointed Justice Ibrahim as acting Chief Justice on July 6 under Article 196 of the Constitution
5. BISP funds to be transferred to bank accounts of deserving women
• The government unveiled two key changes to the way cash grants are disbursed to the most deserving under the umbrella of the Benazir Income Support Programme (BISP), making it possible to receive payments directly in bank accounts and linking the disbursement to school enrolment.
• The Benazir Social Protection Account, launched on July 7, 2023, will give beneficiary women the option to select a bank of their choice, and they would be able receive payments directly in their accounts, which could be withdrawn at their convenience
