Latest World News: Economic crisis in Pakistan: Punjab government buys for ₹2.3
Amid the deteriorating economic situation in Pakistan, the interim government of cash-strapped Punjab will purchase new vehicles for its officials worth 2.3 billion Pakistani rupees (Rs), The News International reported.
Amid the deteriorating economic situation in Pakistan, the interim government of cash-strapped Punjab will purchase new vehicles for its officials worth 2.3 billion Pakistani rupees (Rs), The News International reported.
At a time when the whole country is struggling to meet the requirements of the International Monetary Fund, the finance department of the Pakistani government has issued a notification sanctioning 2.3 billion for the purchase of new luxury vehicles.
At a time when the whole country is struggling to meet the requirements of the International Monetary Fund, the finance department of the Pakistani government has issued a notification sanctioning 2.3 billion for the purchase of new luxury vehicles.
According to the notification issued on July 20, the Assistant Commissioner of each tehsil will receive a new Revo-G M/T Double Cab 4×4, the Additional Assistant Commissioners (General) of each district will receive a new Yaris ATIV 1.3L while the Additional Commissioners of each division will receive a Corolla 1.6 Altis CVT.
According to the notification issued on July 20, the Assistant Commissioner of each tehsil will receive a new Revo-G M/T Double Cab 4×4, the Additional Assistant Commissioners (General) of each district will receive a new Yaris ATIV 1.3L while the Additional Commissioners of each division will receive a Corolla 1.6 Altis CVT.
The notification says that the vehicles currently used by assistant commissioners will be assigned to tehsildars.
The notification says that the vehicles currently used by assistant commissioners will be assigned to tehsildars.
Meanwhile, Pakistan’s external debt service obligations stand at $2.44 billion for the current month of July 2023, including $2.07 billion in unsecured debt owed to China, the report added.
Meanwhile, Pakistan’s external debt service obligations stand at $2.44 billion for the current month of July 2023, including $2.07 billion in unsecured debt owed to China, the report added.
Another $1 billion secured deposit from China is also due, so Pakistan and China are currently working on rolling over about $3 billion in bilateral debt in the current month.
Another $1 billion secured deposit from China is also due, so Pakistan and China are currently working on rolling over about $3 billion in bilateral debt in the current month.
According to The News International, Pakistan is required to repay China about $363 million in guaranteed bilateral loans, including principal and mark-up payments.
According to The News International, Pakistan is required to repay China about $363 million in guaranteed bilateral loans, including principal and mark-up payments.
Pakistan must repay foreign debt service to France for $2.85 million and to Japan for $4.57 million. Pakistan has to repay to the IMF an outstanding loan amount of 189.67 million dollars, including the principal amount of 165.02 million dollars and a mark-up of 24.65 million dollars.
Pakistan must repay foreign debt service to France for $2.85 million and to Japan for $4.57 million. Pakistan has to repay to the IMF an outstanding loan amount of 189.67 million dollars, including the principal amount of 165.02 million dollars and a mark-up of 24.65 million dollars.
Pakistan is to repay the outstanding loan to the AfDB of $56.9 million, the World Bank’s International Development Association (IDA) repayment of $72.06 million and the International Bank for Reconstruction and Development (IBRD) of $8.82 million, and some minor repayments to the International Fund for Agricultural Development (IFAD) and other donors. The total repayment to multilateral creditors in July stands at $149.41 million, The News International reported.
Pakistan is to repay the outstanding loan to the AfDB of $56.9 million, the World Bank’s International Development Association (IDA) repayment of $72.06 million and the International Bank for Reconstruction and Development (IBRD) of $8.82 million, and some minor repayments to the International Fund for Agricultural Development (IFAD) and other donors. The total repayment to multilateral creditors in July stands at $149.41 million, The News International reported.
Meanwhile, around 150,059 highly skilled Pakistani nationals have left the country for overseas jobs over the past decades, according to the Bureau of Emigration and Overseas Employment record. The largest number of qualified Pakistani nationals left the country in search of employment in 2022.
Meanwhile, around 150,059 highly skilled Pakistani nationals have left the country for overseas jobs over the past decades, according to the Bureau of Emigration and Overseas Employment record. The largest number of qualified Pakistani nationals left the country in search of employment in 2022.
No less than 832,339 Pakistani nationals left the country in search of work. Among them, 17,976 were highly skilled. However, as of June 2023, around 10,845 highly skilled Pakistani nationals have left the country for overseas jobs out of a total of 3,95,166.
No less than 832,339 Pakistani nationals left the country in search of work. Among them, 17,976 were highly skilled. However, as of June 2023, around 10,845 highly skilled Pakistani nationals have left the country for overseas jobs out of a total of 3,95,166.
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An Overview of Global Events in 2023
In 2023, the world witnessed a myriad of events that left a lasting impact on global affairs. From political developments and economic shifts to environmental challenges and breakthroughs in science and technology, the year was marked by significant changes and a sense of urgency for collective action. Here’s an overview of some of the latest world news in 2023.
Political Unrest and Diplomatic Strides:
In the political arena, several regions experienced unrest and geopolitical tensions. The ongoing conflict in the Middle East continued to dominate headlines, with efforts towards peace and stability remaining elusive. However, there were also moments of diplomatic breakthroughs as nations engaged in dialogues to ease tensions and work towards lasting solutions.
Economic Transformations:
The global economy faced both challenges and opportunities. Trade disputes between major powers affected markets, while some countries grappled with debt crises. On the other hand, emerging economies showed resilience and promising growth, fueling optimism for a more balanced global economic landscape.
Technological Advancements:
Innovation surged forward in the tech industry, with breakthroughs in artificial intelligence, renewable energy, and space exploration. Quantum computing achieved milestones, promising radical transformations across industries. Renewable energy sources gained traction, with many countries setting ambitious goals to combat climate change.
Climate Crisis and Environmental Resilience:
As the climate crisis intensified, extreme weather events wreaked havoc in various parts of the world. Wildfires, hurricanes, and floods reminded humanity of the urgent need for climate action. In response, governments and communities across the globe doubled down on efforts to reduce carbon emissions, invest in sustainable infrastructure, and protect biodiversity.
Health and Pandemic Management:
Health remained a global priority as countries continued to combat the COVID-19 pandemic. With the emergence of new variants, vaccination efforts and public health measures remained crucial to curbing the spread of the virus. There were also significant advancements in medical research and technology, offering hope for better preparedness in handling future health crises.
Sports and Cultural Milestones:
Amidst the challenges, the world found moments of joy and unity through sports and culture. International sporting events brought together athletes from diverse backgrounds, promoting solidarity and camaraderie. Cultural exchanges and celebrations showcased the richness of human diversity and fostered mutual understanding.
In conclusion, the year 2023 was a dynamic period filled with significant events that shaped the course of history. From political unrest to technological advancements and environmental challenges, the world witnessed the complexities of the global landscape. While obstacles remained, there were also encouraging developments and collaborative efforts towards a more sustainable, peaceful, and prosperous future for all nations. As we move forward, the lessons learned from these events serve as a reminder of the importance of collective action and cooperation to address shared global challenges.