Here, you can seek Current Affairs MCQs of Pakistan and the World’s Current year important events, dates, accidents and issues in 2021, 2022 and 2023. Pakistan Current Affairs sample test and practise questions for job Test. Current Affairs of Pakistan, first in Pakistan, Important issues, current govt ministries etc. So, you will find in this category the updated 2022 Current affairs of Pakistan Mcqs.
This editorial discusses the challenging demands placed on Pakistan by the International Monetary Fund (IMF) as part of its $7bn rescue package. Although tough, these demands were anticipated as necessary for stabilizing the country’s economy. The program aims to rebuild Pakistan’s foreign exchange reserves, improve its tax-to-GDP ratio, and ensure debt sustainability. The IMF’s roadmap for reform includes overhauling the tax system, implementing energy sector reforms, and privatizing and deregulating key sectors. Additionally, the Special Investment Facilitation Council, Sovereign Wealth Fund, and Special Economic Zones will be scaled back to promote investment neutrality. The government has committed to not providing any special tax or regulatory incentives that could distort the investment landscape. If tax collection falls short by 1% on a three-month rolling basis, the government will introduce additional indirect taxes. Other commitments include cutting gas supplies to captive power plants owned by textile millers and provincial reforms to boost tax collection and end market interventions. While the IMF has acknowledged Pakistan’s recent macroeconomic stability, it cautions that this stability is unlikely to lead to growth unless the country can attract significant investment, which seems unlikely in the short term. The elimination of incentives for foreign companies, especially from China, could hinder plans to attract Chinese investment under the China-Pakistan Economic Corridor (CPEC). The IMF will closely monitor Pakistan’s adherence to its reform targets, and there is little margin for error as Pakistan must demonstrate every six » Read More…
The article outlines a comprehensive three-year reform plan for Pakistan to smoothly exit the International Monetary Fund (IMF) program and achieve self-sustained, non-inflationary growth. It highlights the need for domestic reforms beyond merely stabilizing external accounts. To achieve these goals, the government must increase investment, control fiscal deficits, devolve basic services to local governments, address the energy crisis, and reform the civil service. Key reforms include raising the investment-to-GDP ratio to 20% by FY28, controlling the fiscal deficit at 5%, and achieving a primary surplus of 3%. Public investment should rise to 5% through fiscal consolidation, while private sector investments need to grow, especially in SMEs, agriculture, and key industries like petrochemicals and engineering. The country must tackle its recurring balance-of-payments crises by boosting domestic productive capacity in industry and agriculture to reduce reliance on imports. The energy sector also needs reform, including privatizing distribution companies and providing targeted subsidies through the Benazir Income Support Programme (BISP). Additionally, the civil service must undergo modernization, including a merit-based recruitment system and a » Read More…
The article discusses the recent slowdown in the rising cost of goods and services in Pakistan, marking a significant reduction in inflation rates. Headline inflation, which fell to a 44-month low of 6.9% in the previous month, is the result of multiple factors including last year’s high base of 31.4%, falling global oil and commodity prices, stabilization of the exchange rate, reduced demand due to decreasing real wages, and strict monetary tightening. Pakistan’s inflation outlook is looking better, with both core inflation and the three-month average inflation rates dipping into single digits, suggesting a slowdown in imported inflation, especially for items such as energy and food. The State Bank of Pakistan (SBP) has responded to these developments by cutting borrowing costs to 17.5% since June, and private businesses are now advocating for an even more aggressive reduction in interest rates in upcoming months. The editorial also mentions the government’s recent initiative to repurchase costly debt maturing in December at a lower interest rate, reflecting expectations of monetary easing. However, the article notes that the overall cost of living continues to rise despite a lower inflation rate, as consumer expenses for goods and services remain high. This is particularly painful for the middle class, who are still struggling with rising grocery prices, school fees, and medical costs. The editorial cautions against the government’s potential temptation to introduce inflationary measures to stimulate growth in an effort to appease the electorate before » Read More…
The article examines India’s foreign relations in the context of its growing strategic involvement with its neighbors, particularly Sri Lanka. It begins by recounting a symbolic act by the Indian high commissioner in Sri Lanka, who installed a water vending machine at a tourist site to showcase India’s goodwill. However, this small gesture is contrasted with the larger, more significant geopolitical issues brewing between India, its neighbors, and Western allies. The focus then shifts to India’s entanglement in the US-led strategy to counter China’s influence, particularly through initiatives like the anti-China Quad group. The article explores how this strategy might backfire for India, especially as Sri Lanka elects Anura Kumara Dissanayake, a Beijing-friendly Marxist leader, as its president. Despite India’s efforts to court Dissanayake, including a state visit and diplomatic outreach, the new leader’s stance on Indian businessman Gautam Adani’s projects in Sri Lanka has been openly critical. Dissanayake accused the Adani Group of striking corrupt deals, promising to cancel the wind power project if elected. The article points out that India, under Prime Minister Narendra Modi, may need to reevaluate its approach to regional diplomacy, as its close ties with Western powers and controversial business figures like Adani could complicate its relationships with neighboring nations. The broader message is that » Read More…
