Pakistan Current Affairs - 2019

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Pakistan secures $3 billion bailout from Qatar

Cash-strapped Pakistan has secured a financial assistance in form of a bailout package of $3 billion from oil-rich Qatar, a day after Qatar’s Emir Sheikh Tamim bin Hamad concluded his visit to Pakistan.

Qatar’s financial assistance to Pakistan was announced by Sheikh Mohammed bin Abdulrahman Al Thani, Foreign Minister of Qatar.

Key Highlights

Pakistan also conferred visiting Qatari Emir with the Nishan-e-Pakistan, country’s highest civil honour.

Pakistan and Qatar apart from stepping up cooperation in trade and economy also signed a memorandum of understanding (MoU) to cooperate in field of exchange of financial intelligence related to money laundering and curbing terrorism financing.

During past 11 months, the Gulf state is 4th nation that has come forward at Pakistan’s rescue from default as when Prime Minister Imran Khan’s government tries to overcome a ballooning balance-of-payments (BOP) crisis.

Other Financial Aid to Pakistan:

China gave $4.6 billion aid to Pakistan in shape of deposits and commercial loans.

Saudi Arabia provided $3 billion cash deposit and $3.2 billion oil facility on deferred payments.

United Arab Emirates (UAE) also provided $2 billion cash deposit.

In May 2019 Pakistan reached a preliminary agreement with International Monetary Fund (IMF) for $6 billion bailout package that was aimed at supporting Pakistan’s finances and for strengthening a slowing economy.

Month: Categories: International

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Kharga Prahar: Army training exercise concludes

The “Kharga Prahar”, a major training exercise conducted by the Indian Army in Punjab from 27 May 2019 concluded on 4 June 2019.

Key Highlights of Exercise

  • Kharga Prahar exercise was undertaken in plains of Punjab by various units and formations of Army’s Kharga Corps.
  • The exercise was successful in validating latest operational concepts which are designed to deliver a swift punitive blow to India’s adversary.
  • The exercise brought out valuable lessons and also reinforced a high degree of operational preparedness of the Kharga Corps.
  • Joint Training: The exercise setting also incorporated joint training aspects as Indian Air Force (IAF) components also participated. As part of training para drops from IAF aircraft were carried out and simulated battlefield air strikes were conducted in support of ground forces.

About Kharga Corps

  • The Indian Army’s II Corps, based in Ambala is known as Kharga Corps. It has been stationed at Ambala since 1985.
  • If conflict or war breaks out between India and neighbouring Pakistan, in such case it has a mandate to launch offensive attack.
  • Kharga possesses 50% of Indian Army’s offensive capabilities and on integration with multiple military formations it has proved an effective weapon in various wars.
  • In 1971, Bangladesh Liberation War Khara Corps was positioned in West Bengal and helped in division of Pakistan. During the Kargil conflict in 1999 this elite force was deployed somewhere in the desert sector.

 

Month: Categories: Defence & SecurityUPSC

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