Tuesday, 9 April 2019

Current Affairs of Pakistan





In the controversial General Elections – 2018, Pakistan Tehreek-e-Insaf (PTI) emerged as the largest party. However, the PTI was supported by Pakistan army and judiciary.

China-Pakistan Economic Corridor (CPEC)

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. 



China-Pakistan Economic Corridor


Chinese president Xi Jinping with Pakistani prime minister Nawaz Sharif on April 20, 2015 in Islamabad, Pakistan for inauguration of CPEC project.
China Pakistan Economic Corridor (CPEC) is a series of under construction projects of worth more than $56 billion across Pakistan. It is an extensive network of roads, railways, pipelines, special economic zones, dry ports, optical fiber cable network, and other energy and infrastructure development projects across Pakistan.
The inauguration ceremony of CPEC related projects on April 21, 2015 in Islamabad, Pakistan.
The CPEC will link Kashgar in northwest China’s Xinjiang Uygur Autonomous Region and southwest Pakistan’s Gwadar Port in its Baluchistan Province. China imports 60% of oil from Persian Gulf. With the completion of CPEC, the distance for this import will reduce from 16,000 km to a mere 5,000 km. And, it would take only 10 days instead of the current 45 days.
NOTE: This is not the actual map of CPEC route. The purpose of this map is to give an overview and logic behind the CPEC.
CPEC is considered as a golden opportunity for Pakistan to develop its infrastructure, overcome power shortage on a fast-track, and take full advantage of its geographical location. Through CPEC, Pakistan is harnessing its geo-strategic location into a geo-economic advantage. However, CPEC related development projects resulted in war of credited between civil and military establishment

Pakistan’s Public Debt

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



Pakistan’s Public debt


Public debt (also known as Government debt) is the debt owed by federal government. Pakistani government borrows by issuing securities, bonds, and from financial institutions such as Asian Bank, World Bank and IMF. Pakistan’s public debt has two main components:
  • Domestic debt which is incurred principally to finance fiscal deficit, and
  • External debt which is raised primarily to finance development expenditure.
Pakistan’s Debt-to-GDP ratio was increased from 60.2% in 2013 to 61.4% in 2017. 
Recent History of Pakistan’s Public debt (Rs. in billion)
YEARDOMESTIC DEBTEXTERNAL DEBTPUBLIC DEBT
20116,0174,75010,767
20127,6385,05712,695
20139,5224,79714,318
201410,9205,07115,991
201512,1995,18217,381
201613,6276,05119,678
201714,8556,55221,407
201815,4377,38222,820 (Dec 2017)
Figure 1. Trend in Domestic and External Debt
Public Debt to GDP Ratio
An important measure regarding public debt is Public debt to GDP ratio, that is how much a country owed with respect to its GDP.
Recent History of Public Debt to GDP Ratio
YEARNET DEBT-GDP RATIOGROSS DEBT-GDP RATIO
201154.3%58.9%
201259.3%63.3%
201360.2 %64.0%
201458.1%63.5%
201558.3%63.3%
201661.3%67.7%
2017 (Dec 2017)61.4%67.0%
Figure 2. Public Debt to GDP Ratio
The table below shows Pakistan’s debt-to-GDP ratio in comparison with some other countries.
COUNTRY20132014201520162017
United States81.580.980.581.482.4
United Kingdom77.779.680.480.780.4
Japan117.3118.9118.3119.7119.9
India68.568.569.569.567.7
Srilanka70.870.776.077.379.5
Egypt73.777.178.888.193.6
Pakistan60.258.158.361.361.4

Balloki Power Plant

The construction work of the 1223 MW Balloki power plant was completed on July 15, 2018.



Balloki Power Plant


Prime Minister Nawaz Sharif on November 10, 2015 performed the groundbreaking of 1223 MW Balloki power plant in Kasur, Punjab. It is a natural gas power plant funded by the government of Punjab. The plant uses regasified liquefied natural gas (RLNG) as a fuel. The construction work of Balloki power plant was completed on July 15, 2018 (within the record 32 months). It is the third LNG based power plant in Pakistan, the other two are Bhikki Power Plant and Haveli Bahadur Shah Power Plant.

Neelum-Jhelum Hydropower Project

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.

Bhikki Power Plant, Sheikhupura

Chief Minister Punjab Shehbaz Sharif inaugurated the fully operational Bhikki Power plant on May 19, 2018

Tarbela 4th Extension Hydropower Project

Prime Minister Shahid Khaqan Abbasi inaugurated the first unit of 1410 MW Tarbela 4th extension hydropower project on March 10, 2018.

Pakistan has become a full member of SCO
SCO

Shanghai Cooperation organization (SCO) is an international organization. India and Pakistan have become full member of the organization on 9 June 2017

Patient Transfer Service launched in Punjab

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. 

Sahiwal Coal-Fired Power Plant has become operational

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).

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