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June 21, 2023: National Current Affairs MCQs
1. Rulers devise plan to revive ailing economy
• Plagued by economic challenges amid an `inordinate` delay in the revival of the International Monetary Fund (IMF) programme, civilian and military leaders on Tuesday devised an `economic revival plan` to capitalise on `untapped potential in key sectors` and attract foreign direct investments.
• A statement issued by the PM Office said the meeting was chaired by PM Shehbaz Sharif and participants included chief ministers, federal and provincial ministers, and the army chief, among others.
• The plan envisages making the most of `untapped potential in key sectors of defence production, agricultural/livestock, minerals/mining, IT, and energy, through indigenous development as well as investments from friendly countries`
2. PM commits Rs25bn for flood-hit in Sindh
• In an apparent attempt to placate his coalition partner PPP, Prime Minister Shehbaz Sharif on June 20, 2023 committed Rs25 billion for flood victims in Sindh.
• A source in the PM House told Dawn that the prime minister has given the assurance to Sindh Chief Minister Murad Ali Shah in a meeting on Tuesday.
• Mr Shah apprised the prime minister that the provincial government had already allocated Rs25bn for the flood-affected people in it s budget, therefore, funds should be provided by the centre.
• The funds for flood victims have become a point of contention between the PPP and PML-N
3. Caretakers unveil Rs462bn budget for four months
• The caretaker government in Khyber Pakhtunkhwa has unveiled a spending plan of Rs462.4 billion for the first four months (July to October) of the coming fiscal year.
• It plans to spend roughly a quarter of the total outlay on development projects and, in line with the federal budget, raised salaries by up to 35 per cent and pensions by 17.5pc.
• With total expenditure of Rs462.4bn and revenue of Rs442.6bn, the four months budget estimates a deficit of Rs19.8bn.
• The chief minister`s adviser on finance and energy, Himayatullah Mayar, presented the salient features of authorised expenditure at a press conference at the Civil Secretariat`s cabinet room on June 20, 2023
4. Punjab to digitise record of urban mauzas with World Bank help
• In collaboration with the World Bank, the government is all set to digitise the land record of as many as 1,706 urban mauzas of Punjab.
• `We have started preparatory jobs required ahead of launching the works related to digitisation of as many as 1,706 mauzas of the province in collaboration with the World Bank,` a senior official engaged with the Punjab Urban Land Systems Enhancement Project (PULSE) told Dawn when contacted.
• There are total 25,709 mauzas that include 24,003 rural 1,706 urban. Of 24,003, as many as 23,189 mauzas have been notified as digitised and their record is available online. At present, digitisation of record on the remaining 2,530 rural mauzas is under way, whereas the work on digitisation of 1,709 urban mauzasis set to begin soon
5. Two soldiers martyred in N. Waziristan
• Two soldiers were martyred in an improvised explosive device attack in the Spinwam area of North Waziristan on Tuesday, the ISPR said in a statement.
• The martyrs were identified as Sepoy Gul Rauf, aged 29, resident of district Lakki Marwat, and Sepoy Abid Ullah, aged 23, resident of district Karak.
• `The sanitisation of the area was being carried out to eliminate any terrorists found in the area. Armed forces of Pakistan are determined to eliminate the menace of terrorism and such sacrifices of our brave soldiers further strengthen our resolve,` it said
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6. Pakistan qualifies for UK`s new scheme
• Pakistan has qualified for the United Kingdom`s new preferential trade scheme, which allows Islamabad to avail duty-free exports to the UK markets.
• On June 19, the preferential trade programme called the Developing Countries Trading Scheme (DCTS) replaced the UK`s Generalised Scheme of Preference (GSP). Pakistan will be one of the 65 countries to avail lower tariffs on exports to the UK market.
• DCTS covers 37 countries in Africa, 26 in Asia/ Oceania/Middle East and 2 in the Americas, representing varied and exciting trade opportunities around the world. The scheme was announced last year, and legislation has since been finalised to bring it into force
7. Foreign direct investment dips 21pc
• After a drop in both remittances and exports, foreign direct investment (FDI) fell 21 per cent in the 11 months through May, though inflows in May rose on both month-on-month and year-on-year bases.
• The State Bank`s data issued on Tuesday noted an FDI inflow of $149.6 million in May compared to $121.6m in April 2023 and $141.2m in May 2022.
• Due to prolonged political and economic uncertainties, there was little hope in the financial circle for improvement in foreign investments.
• For more than a decade, Pakistan has lost attraction for foreign investments. The current economic turmoil has badly damaged the country`s image as an attractive place for investments
8. Kyiv suffers `massive` drone attack
• Russian forces launched a major drone assault on Kyiv overnight and attacked several other regions, Ukrainian officials said on Tuesday, but there were no reports of casualties.
• `New massive air attack on the capital,`wrote the Kyiv City Military Administration, adding that it was the first attack on the Ukrainian capital in 18 days to use Iranian-made Shahed explosive drones.
• Russia had launched a wave of aerial attacks on critical Ukrainian infrastructure over the winter months but those cruise missile and drone strikes have become less frequent. The Ukrainian air force said on Tuesday it had downed a total of 32 attack drones out of 35 launched by Russia`s forces
9. Global markets drop as China rate cut underwhelms traders
• Global stocks mostly fell on Tuesday as China`s smaller than-forecast interest rate cut failed to dispel worries over its flagging powerhouse economy.
• Asian stocks finished mostly lower, as did European equities. Wall Street opened lower upon returning from a long holiday weekend.
• London stocks firmed on the eve of critical UK inflation data and ahead of Thursday`s expected interest rate increase from the Bank of England. World oil prices slumped and the dollar wavered against rival currencies
10. Four shot dead near West Bank
• Four people were shot dead Tuesday near a settlement in the occupied West Bank, Israeli officials said, a day after an army raid in the territory left six Palestinians dead.
• Tuesday`s attack took place at a petrol station near the Eli settlement, south of Nablus.
• Four other people were wounded, according to Israel`s Magen David Adom (MDA) emergency services
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