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June 10, 2023: National Current Affairs MCQs
1. `Populist` measures in trying times
• With the looming elections in mind, the coalition government presented an expansionary budget for fiscal 202324 late June 09, 2023 evening, increasing salaries for federal government employees by a massive 30-35 per cent, increasing development expenditures by 33pc, and announcing tax incentives for agriculture, information technology, construction and industry.
• It balanced these with increased tax rates for non-filers, an increased tax burden on capital markets and a projected higher yield from petroleum levy.
• Curiously, despite the difficulties it continues to face in convincing the International Monetary Fund (IMF) to start seeing its way, it also budgeted a $2.4 billion inflow from the lending agency for next year
2. Significant decrease in sports budget
• The development budget for the sports sector has significantly been reduced, with the government allocating Rs1.9 billion to the Ministry of Inter Provincial Coordination (IPC) for 14 ongoing and three new sports projects.
• Last year, the government earmarked Rs3.4bn for 12 ongoing and seven new schemes.
• Despite sports having devolved after the 18th constitutional amendment, the IPC ministry regulates the sports sector at federal level.
• According to budget documents, Rs20 million has been earmarked for a new scheme titled `Revamping and provision of sports facilities at Kashmore`
3. Coastal areas vulnerable as cyclone changes course
• There is a potential threat of flooding in Pakistan`s coastal areas in the coming days after Biparjoy a very severe cyclonic storm over the east-central Arabian Sea changed its direction on the night between June 8 and June 9.
• The storm is likely to keep moving in the north/northeastward direction during the next 36-48 hours, Pakistan Meteorological Department (PMD) officials said on Friday, adding that Biparjoy is likely to maintain its intensity in the coming days.
• `The current environmental conditions, including the sea surface temperature of 30-32°C, low vertical wind shear and upper-level divergence, are still supporting the system to intensify further. `Owing to shift in upper-level steering winds, the uncertainty in global models forecast of the system still persists, though, with some taking it to Oman-Pakistan Makran coast and others indicating towards Indian Gujarat-Pakistan Sindh coast,` Chief Meteorologist Dr S. Sarfaraz said
4. Punjab to get lion`s share from divisible revenue pool
• Punjab is set to get the lion`s share from the federal divisible pool of taxes in the next fiscal year, the sum almost equal to the share of the other three provinces.
• According to the budget document for the next fiscal year, Rs5.27 trillion in taxes will be transferred to the provinces. The share has gone up from Rs4.12 according to revised estimates of the previous fiscal year.
• Of the Rs5.27tr to be transferred to the provinces in the next year, the constitutional share of Punjab will come to Rs2.62tr (49.72pc).
• Sindh`s share will be Rs1.30tr(24.67pc), followed by Rs866.75bn (16.45pc) for Khyber Pakhtunkhwa (KP) and Rs479.05bn (9.08pc) for Balochistan
5. Rs950bn allocated for development
• Development projects in exports, equity, empowerment, environment and energy framework and CPEC, as well as projects to help mitigate the effects of the 2022 floods, have been given priority in the Public Sector Development Programme (PSDP) for 2023-24, with a total outlay ofRs950 billion.
• Priority has also been assigned to infrastructure, with over 52 per cent of the allocations of Rs950 billion, followed by the social sector having 25.5 per cent and regional development (AJK, GB and merged districts of KP) with 12.5 per cent.
• The PSDP is the government`s investment to uplift the people`s quality of life and, eventually, the economy as a whole