UK’s National Crime Agency charged Malik Riaz Hussain with £190 million fine
United Kingdom’s National Crime Agency (NCA) charged Malik Riaz Hussain, a real estate tycoon, a fine of £190 million (About 38.5 billion rupees) on 3 December 2019. All of the money belong to Pakistan and will be sent back to Pakistan. The £190 million settlement was concluded after investigating Riaz’s bank accounts in UK. It is expected that the government of Pakistan will launch a large scale investigation into the matter that how the money was earned and laundered to UK.
PM Launched “Digital Pakistan” Vision
Prime Minister Imran Khan launched “Vision Digital Pakistan” on 5 December 2019 in Prime Minister Office, Islamabad. The vision will be headed by a former senior Google executive Tania Aidrus and its headquarter will be based in the Prime Minister Office, Islamabad. Federal Minister for Information Technology Khalid Maqbool Siddiqui also addressed the ceremony. There are five proposed strategic pillars of this digital initiative: Access & Connectivity, Digital Infrastructure, E-Government, Digital Skill & Literacy, and Innovation & Entrepreneurship.
PM Lays Foundation Stone of Baba Guru Nanak University
PM Imran Khan lays the foundation stone of Baba Guru Nanak University in Nankana Sahib on 28 October 2019. Earlier, CM Punjab Usman Buzdar also laid down the foundation stone of the same university on 12 July 2019. Nankana Sahib in Punjab, Pakistan is the birth place of Guru Nanak who was the founder of Sikhism and the first of the ten Sikh Gurus. The estimated cost of the university is Rs 6 billion.
PM Launched Kamyab Jawan Scheme
Prime Minister Imran Khan launched Kamyab Jawan scheme to lend business loans to youth in Pakistan on 17 October 2019. The scheme is however basically a continuation of PM Youth Program launched in December 2013 by ex-Prime Minister Nawaz Sharif. Under the PM Youth Program (Now Kamyab Jawan Program) about 1,100,000 people have already received financial help between 2013 and 2018.
Pakistan Corruption Index
The government of PMLN (2013-2018) was successful in curtailing the corruption in Pakistan which was dramatically increased during the Martial Law (1999-2008) and the first few years of the government of the PPP (2008-2013). The corruption perception index by transparency international estimates the perceived levels of public sector corruption. Below is the historical graph in detail.
Pakistan and FATF
Financial Action Task Force (FATF) put Pakistan on a list of “jurisdictions with strategic deficiencies”, also known as the “grey list” for the first time on 28 February 2008. It remained on the grey list until 27 February 2015 when Pakistan was put on the white list. However, Pakistan was put on the grey list again on 29 June 2018, and is still on the grey list. The purpose of FATF is to combat money laundering and terrorism financing.
|Pakistan’s Policy Rate 2019
The insane policy rate of 13.25% by State Bank of Pakistan is expected to increase inflation and cause recession in the country.
Pakistan Elections 2018
The controversial general elections were held on July 25, 2018. Pakistan Tehreek-e-Insaf (PTI) was emerged as the largest political party in the elections. However, the PTI was supported by Pakistan Army and Judiciary.
The Rise and Fall of Pakistan Stock Exchange
The five year graph demonstrates the rise and fall of Pakistan Stock Exchange (PSX). With CPEC and better economic policies, Pakistan’s economy flourished from 2013 to 2018. However, the economy suffered due to conspiracy against the sitting government and the controversial general elections in 2018.
Signing ceremony of MoU between China and Pakistan on CPEC – July 05, 2013, Beijing. China Pakistan Economic Corridor (CPEC) is a series of under construction projects across Pakistan. It is an extensive network of roads, railways, pipelines, and others; connecting major parts of Pakistan with China. Read More
Public debt (also known as Government debt) is the debt owed by federal government of Pakistan. The Debt-to-GDP ratio was increased from 60.2% in 2013 to 61.4% in 2017.. Read More
The construction work of the 1223 MW Balloki power plant was completed on July 15, 2018.. Read More
PM Abbasi inaugurated the first unit of Neelum-Jhelum project on April 13, 2018, and on July 10, 2018 the power generation from the plant was increased to 726 MW.. Read More
Chief Minister Punjab Shehbaz Sharif inaugurated the fully operational Bhikki Power plant on May 19, 2018.. Read More
Prime Minister Shahid Khaqan Abbasi inaugurated the first unit of 1410 MW Tarbela 4th extension hydropower project on March 10, 2018.. Read More
Shanghai Cooperation organization (SCO) is an international organization. India and Pakistan have become full member of the organization on 9 June 2017. Read More
Chief Minister Punjab Shehbaz Sharif on June 6, 2017 launched “Patient Transfer Service” (PTS) to transport patients from lower health unit to higher health facility across the province. Read More
The Sahiwal coal-fired power plant inaugurated on 25 May 2017 is now operational. The installed capacity of the project is 2×660 = 1320 MW (2 units of 660 MW each). Read More
Current Affairs of Pakistan
Pakistan Affairs, Current Affairs related to Pakistan, News, Facts, Analysis, and current issues and developments in Pakistan.