CURRENT AFFAIRS

HIGHLIGHTS
DATE: 22-MARCH-24

1. Finance Minister's Statements on Economic Measures

 Extended Fund Facility (EFF) Discussion:
 Finance Minister Muhammad Aurangzeb announced plans to discuss the matter of an
Extended Fund Facility (EFF) with the International Monetary Fund (IMF) in
Washington next month, aiming to address the looming economic crisis.
 Utilizing Bonds for Economic Stabilization:
 Pakistan intends to explore bonds in the international market to stabilize its economy.
Aurangzeb mentioned ongoing efforts towards Panda bonds and expressed intentions to
access the international bond market once Pakistan's credit rating improves, with plans to
potentially issue $300 million in Panda bonds this year.

2. Foreign Minister Dar's Nuclear Energy Advocacy

 Dar calls for increased financial support for nuclear energy projects.
 Highlights Pakistan's nuclear energy capacity and collaborations with China at the Nuclear
Energy Summit.

3. Indian Prime Minister's Visit to Bhutan

 Narendra Modi embarks on a two-day state visit to Bhutan, a strategic Himalayan nation.
 India aims to solidify its influence in Bhutan amidst China's attempts to court the country,
emphasizing its Neighbourhood First Policy.

4. Empowering Women with Water Solutions

 Water Burden Relief:
 Tayaba Organisation introduces the H2O Wheel, easing the burden of water collection
for women in rural Pakistan, reducing physical strain and enabling more time for other
activities.
 Impact and Transformation:
 Distribution of over 30,000 H2O Wheels leads to improved health, hygiene, and
economic opportunities for women, as well as increased involvement of men in water
hauling tasks, contributing to community well-being in drought-affected areas.

5. Pakistan's Stance on Counterterrorism Cooperation with

Afghanistan
 Islamabad reiterates commitment to dialogue and cooperation with Afghanistan to address
terrorism.
 Defence Minister emphasizes Pakistan's reluctance for armed conflict but warns of potential
trade corridor closure if violence persists.

6. Foreign Minister Dar Advocates for Nuclear Energy at

Brussels Summit

 Foreign Minister Mohammad Ishaq Dar calls for support from international financial
institutions and banks to bolster nuclear energy projects in developing countries,
emphasizing their role in meeting energy needs and achieving zero emissions goals.
 During his meeting with the International Atomic Energy Agency (IAEA) Director General
Rafael Mariano Grossi, Dar underscores Pakistan's commitment to enhancing nuclear
energy's share in the energy mix and highlights the importance of IAEA's technical
cooperation work, aiming to address global energy security concerns.

7. NASA Reports Significant Rise in Global Sea Levels

 Acceleration in Increase:
 NASA notes a substantial increase in global average sea levels by approximately 0.3
inches from 2022 to 2023, attributing the rise to a strong El Niño and ongoing climate
warming.
 Long-term Trend:
 Over the past 30 years, sea levels have risen by approximately four inches, with the rate
of increase more than doubling from 0.07 inches per year in 1993 to the current rate of
0.17 inches per year. This acceleration suggests a potential addition of another 20
centimeters (eight inches) by 2050, leading to increased frequency and severity of
flooding events.

8. Russia and China Veto US Proposal for Gaza Truce at UNSC

 Vetoed Resolution:
 Russia and China reject a US-led resolution at the UN Security Council (UNSC)
aiming for a ceasefire in Gaza, accusing the US of a "hypocritical spectacle" and
asserting that the resolution does not pressure Israel.
 Criticism and Response:
 US Ambassador Linda Thomas-Greenfield criticizes the Russian and Chinese
vetoes as "cynical" and "petty," alleging that both countries are not actively
contributing to diplomatic efforts for lasting peace in the region.

9. Global Water Crisis Fuelling More Conflicts, UN Report Warns

 Water Stress and Conflict:
 The UN World Water Development Report 2024 highlights that increasing global water
scarcity is leading to more conflicts and contributing to instability. Access to clean water
is deemed critical for promoting peace, yet 2.2 billion people lack clean drinking water,
and 3.5 billion lack safely managed sanitation.
 Impact on Society:
 Girls and women are disproportionately affected by water scarcity, particularly in rural
areas where they bear the primary responsibility of collecting water. Spending hours
fetching water often leads to girls dropping out of school. The lack of clean water also
exacerbates health risks and disrupts medical treatment and hygiene, particularly in
conflict-affected regions like Gaza.