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July 01, 2018
- Cabinet extends amnesty scheme for two months
- Caretaker federal cabinet on June 30, 2018 decided in principle to extend tax amnesty scheme for another couple of months, keeping in view the good response it has received lately.
- Held under the chair of Caretaker Prime Minister Justice (r) Nasirul Mulk the cabinet took up host of issues including granting extension to the Afghan refugees in the country.
- It was decided to extend the interim stay of registered Afghan refugees for another three months and let the matter to be decided by the next government.
- The cabinet was also briefed by finance minister on the recently held Financial Action Task Force (FATF) meeting in Paris where the case of Pakistan was forcefully pleaded.
- The federal cabinet in its meeting also approved an amendment to include National University of Technology (NUTCH) in Schedule-II of Rules of Business, 1973.
- It approved Financial Institution Rules, 2018 and appointing FIA as the Investigating Agency as required under Section 20(7) of Financial Institutions (Recovery of Finances) Ordinance (FIRO), 2001.
- China ‘lends’ $1b to Pakistan
- China has lent Pakistan $1 billion to boost the South Asian country’s plummeting foreign currency reserves, amid growing speculation of another International Monetary Fund bailout.
- The latest loan highlights Islamabad’s growing dependence on Chinese loans to buffer its foreign currency reserves, which plunged to $9.66 billion last week from $16.4 billion in May 2017.
- The lending is the outcome of negotiations for loans worth $1-2 billion that was first reported by Reuters in late May, the two sources told Reuters.
- With the latest loan, China’s lending to Pakistan in this fiscal year ending in June is set to breach $5 billion.
- In the first 10 months of the fiscal year China lent Pakistan $1.5 billion in bilateral loans, according to a finance ministry document seen by Reuters. During this period Pakistan also received $2.9 billion in commercial bank loans mostly from Chinese banks, ministry officials told Reuters.
- Beijing’s attempts to prop up Pakistan’s economy follow a strengthening of ties in the wake of China’s pledge to fund badly-needed power and road infrastructure as part of the $57 billion China-Pakistan Economic Corridor (CPEC), an important cog in Beijing’s vast Belt and Road initiative.
- Islamabad, Kabul reach ‘unique deal’ on peace
- President Ashraf Ghani said on June 30, 2018 an agreement has been made with Pakistan – in writing – on rooting out terrorism.
- The Afghan president said achievements had been made with Pakistan on finding a solution to the Taliban problem in Afghanistan.
- Ghani did not however give details on exactly what the agreement entailed.
- Meanwhile, Pakistan’s Ambassador to Kabul Zahid Nasrullah stressed the need for the strengthening of Kabul-Islamabad ties. He talked about Islamabad’s role in ensuring peace in Afghanistan.
- Pakistan made high-level political commitment to end terror financing: US
- Pakistan has made a high-level political commitment to combating terrorism financing, says the US State Department while urging Islamabad to meet its obligations.
- The Paris-based Financial Action Task Force (FATF) placed Pakistan on a `grey list` of countries that f ailed to prevent terrorists from collecting funds within their territories.
- This week, FATF held its plenary session in Paris where Pakistan presented a 26-point action plan to stamp out terrorism financing.
- Election 2018: ECP publishes candidates’ final lists
- The Election Commission of Pakistan (ECP) on June 30, 2018 published the final list of candidates and allotted them election symbols as per schedule.
- June 30 was the last day for publication of the final lists of candidates and allotment of election symbols. A day earlier the candidates had the opportunity to withdraw their nomination papers.
- A total of 21,482 candidates had filed nomination papers this time and several have withdrawn. For 2013 general elections, over 28,000 nomination papers were filed.
- UD Quester truck launch
- The latest UD Quester heavy-duty truck range was launched at the Expo Centre.
- VPL Limited is the authorised distributor of UD Trucks in Pakistan. The trucks provide complete solution for long haulage, distribution, construction and mining segments and comply 100 per cent to Ogra and NHA safety regulations.
- US envoy to Estonia resigns over Trump comments
- The US ambassador to Estonia has resigned over frustrations with President Donald Trump`s comments about the European Union and his treatment of Washington`s European allies.
- In a private Facebook message posted, James D. Melville wrote: `For the President to say EU was `set up to take advantage of the United States, to attack our piggy bank,` or that `Nato is as bad as NAFTA`is not only f actually wrong, but proves to me that it`s time to go.` Melville was referring to Trump`s recent comments at news conferences and on social media.
- Melville stressed that a US foreign service officer`s `DNA is programmed to support policy and we`re schooled right from the start, that if there ever comes a point where one can no longer do so, particularly if one is in a position of leadership, the honorable course is to resign.
- Unesco lists World Heritage sites
- Unesco on June 30, 2018 added eight pre Islamic Iranian archaeological sites, Mumbai`s Art Deco buildings, seven ancient Korean mountain temples and a dozen Christian locations in parts of southern Japan to its World Heritage List.
- The Iranian sites collectively appear on the worldwide list as the `Sassanid Archaeological Landscape of Fars region (Islamic Republic of Iran)`. A province in modern-day Iran`s south, Fars was the cradle of the Sassanid dynasty, which appeared at the start of the third century.
- Art Deco buildings Mumbai`s Art Deco buildings believed to be the world`s second largest collection after Miami were also added to the list alongside the city`s better-known Victorian Gothic architecture
- Hidden Christian sites A dozen Christian locations in parts of southern Japan where members of the faith were once brutally persecuted were selected for inclusion on the Unesco Heritage list.
- Maverick entrepreneur’s space rocket fails at blast off
- A rocket developed by a maverick Japanese entrepreneur and convicted fraudster exploded shortly after liftoff June 30, 2018
- In a major blow to his bid to send Japan’s first privately backed rocket into space. Interstellar Technologies, founded by popular internet service provider Livedoor’s creator Takafumi Horie, launched the unmanned rocket, MOMO-2, at around 5:30 am (2030 GMT Friday) from a test site in Taiki, southern Hokkaido. But television footage showed the 10-metre (33-foot) rocket crashing back down to the launch pad seconds after liftoff and bursting into flames.
- No injuries were reported in the spectacular explosion. The launch was supposed to send the rocket carrying observational equipment to an altitude of over 100 kilometres (62 miles).
- ‘Air pollution plays significant role in diabetes’
- Air pollution caused one in seven new cases of diabetes in 2016, according to a US study, which found even low levels raised the chances of developing the chronic disease.
- Diabetes has primarily been associated with lifestyle factors like diet and a sedentary lifestyle, but research by the Washington University School of Medicine in St Louis said pollution also plays a major role.
- The study estimated that pollution contributed to 3.2 million new diabetes cases globally in 2016 — or around 14 percent of all new diabetes cases globally that year. “Our research shows a significant link between air pollution and diabetes globally,” said Ziyad Al-Aly, the study’s senior author.