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Daily Top-10 Current Affairs MCQs / News (March 07 2023) for CSS

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March 07, 2022: National Current Affairs MCQs

1. Pakistan has to give assurance on financing balance of payments gap: IMF

• Pakistan will be required to give an assurance that its balance of payments (BoP) deficit is fully financed for the fiscal year ending in June to unlock the next tranche of IMF funding, the fund`s resident representative said on March 6, 2023.
• The funding is critical for Islamabad, which is facing a BoP crisis, with foreign exchange reserves held by the State Bank of Pakistan (SBP) dropping to levels barely able to cover four weeks of imports.
• The International Monetary Fund has been negotiating with Islamabad since early last month to clear its 9th review, which if approved by the board will issue $1.1 billion of a$6.5bn bailout agreed upon in 2019.
• That bailout ends at the close of this fiscal year on June 30

2. Pakistan improves risk score on global AML index

• Following Pakistan`s exit from the Financial Action Task Force`s (FATF) grey list, a global body of banking supervisory authorities has acknowledged the progress made by the country in the overall regulation of the financial affairs slightly lowering the risk score of the country.
• However, experts believe that the recently released Basel AML [anti-money laundering] Index briefing on Pakistan would hardly benefit the country`s overall economy amid larger challenges which have `overshadowed` the progress it`s making on the regulatory front.
• `Pakistan`s overall ML/TF [money laundering and terrorist financing] risk score in the Basel AML Index (Public Edition) is 6.16. This places it in the medium-risk category compared to other global jurisdictions. In the latest update of the Expert Edition, which is updated quarterly with the latest data, the risk score is slightly lower at 6.11,` said the Basel AML Index briefing on Pakistan

3. Nine security men martyred in Bolan suicide attack

• At least nine personnel of the Balochistan Constabulary embraced martyrdom and 13 others were injured on Monday after a suicide bomber riding an explosives-laden motorbike struck a police truck on the Sukkur-Quetta Highway in the Bolan district about 120km from Quetta.
• According to officials, the personnel were on their way back to Quetta after performing duties at the annual `Sibi Mela` when the truck was targeted in the Dhadar area.
• The impact of the powerful blast, which destroyed the vehicle, killed nine officials on the spot and left the rest wounded. Senior police officer Mehmood Khan Notezai confirmed the suicide attack, while the Tehreek Jihad Pakistan (TJP), an unknown militant outfit, claimed responsibility for it.
• According to AFP, the militant Islamic State group claimed responsibility for the suicide blast

4. PM decries `unsustainable debt` of poor nations

• Prime Minister Shehbaz Sharif on March 6, 2023 called for ways to address the issue of the `unsustainable debt burden` of Least Developed Countries (LDCs).
• Addressing the 5th UN Conference on LDCs, the PM also emphasised the need for a global financial system that addresses the issues of poor countries.
• He said it was a matter of great concern that six LDCs are classified as suffering from debt burden while 17 are at high risk of debt distress.
• `We also need to reform the unequal financial architecture [and] make it people-centric and designed to address special needs and weaknesses of LDCs,` Mr Sharif said

5. Senate body seeks Rs500 radio fee on registration of vehicles

• A Senate committee has recommended charging Rs500 `radio fee` from all vehicles, excluding motorcycles, at the time of registration to generate additional Rs15 billion per year revenue for the financially-hit state-run Pakistan Broadcasting Corporation (PBC), commonly known as Radio Pakistan.
• The recommendation came from a sub-committee of the Senate Standing Committee on Information and Broadcasting which met under its convener Irfan Siddiqui of the ruling PML-N here on March 6, 2023 to discuss issues relate d to the PBC`s serving and retired employees who had been facing great hardships due to financial crunch for more than a decade.
• Talking to Dawn after the meeting, Mr Siddiqui said that the members were informed that the proposal of collecting radio fee was expected to generate an additional Rs15bn per annum, as every year millions of vehicles were registered in the country

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6. Donors have fulfilled only 40pc of flood pledges: UN

• The UN said on Monday that so far donors have fulfilled only 40 per cent of the pledges they made at an international conference early this year to help the victims of last year`s floods in Pakistan.
• `Missing because people have not given it,` said UN spokesman Stéphane Dujarric when asked at a news briefing in New York why most of the money pledged in January was still missing. `If the appeal is only 40pc funded, by my maths, that means we still need 60pc,` he said. `Those countries that have the money have not stepped up.
• In January, international donors met in Geneva and committed over $9bn to help Pakistan recover from floods last year.
• Responding to a question about journalist Arshad Sharif`s murder in Kenya, spokesperson Dujarric said the UN called for a transparent investigation, but `did not make a formal request to keep the UN informed`

7. S. Korean firms to pay victims of Japan`s forced labour

• South Korea announced plans on March 6, 2023 to compensate victims of Japan`s forced wartime labour, aiming to end a `vicious cycle` in the Asian powers` relations and boost ties to counter the nuclear-armed North.
• Japan and the United States immediately welcomed the announcement, but victims` groups said it fell far short of their demand for a full apology from Tokyo and direct compensation from the Japanese companies involved.
• Seoul and Tokyo have ramped up security cooperation in the face of growing threats from Kim Jong UN`s North Korea, which is expanding its nuclear weapons programme in defiance of UN sanctions

8. Ukraine seeks US cluster bombs to adapt for drone use

• Ukraine has broadened a request for controversial cluster bombs from the United States to include a weapon that it wants to cannibalise to drop the anti armor bomblets it contains on Russian forces from drones, according to two US lawmakers.
• Kyiv has urged members of Congress to press the White House to approve sending the weapons but it is by no means certain that the Biden administration will sign off on that. Cluster munitions, banned by more than 120 countries, normally release large numbers of smaller bomblets that can kill indiscriminately over a wide area, threatening civilians.
• Ukraine is seeking the MK-20, an air delivered cluster bomb, to release its individual explosives from drones, said US Representatives Jason Crow and Adam Smith, who both serve on the House of Representatives Armed Services Committee. That is in addition to 155mm artillery cluster shells that Ukraine already has requested, they said

9. Women still barred as Afghan varsities reopen for men

• Afghan universities reopened on March 6, 2023 after a winter break, but only men returned to class with a `heartbreaking` ban by the Taliban authorities on women in higher education still in force.
• The university ban is one of several restrictions imposed on women since the Taliban stormed back to power in August 2021 and has sparked global outrage including across the Muslim world.
• `It`s heartbreaking to see boys going to the university while we have to stay at home, said Rahela, 22, from the central province of Ghor.
• `This is gender discrimination against girls, because Islam allows us to pursue higher education. Nobody should stop us from learning

10. Pakistan Super League Guptill-inspired Gladiators stay alive with thrilling victory over Kings

• The stands were empty and the atmosphere was dull at the Pindi Cricket Stadium on March 6, 2023. After all, much wasn`t expected from the fixture featuring Quetta Gladiators and Karachi Kings the bottom-two teams of the HBL Pakistan Super League vying for survival. After the Kings had dragged themselves to a fighting total of 164-6, the Gladiators` chase was going nowhere as they looked into certain elimination.
• But opener Martin Guptill with the Gladiators captain Sarfraz Ahmed on the other end had different ideas. With 65 runs needed off the last 27 balls, Guptill went deep into his crease to club Kings pacer Mohammad Amir over midwicket for six.
• The New Zealander smashed James Fuller for another humongous six to bring up his 50 and plundered the medium-pacer for three boundaries before finishing off the 17th over with six more

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