Today’s top Pakistan current affairs February 11, 2021 with download link available in pdf. These are the latest breaking news about Pakistan which will be helpful for aspirants in test preparation of current affairs, Pakistan affairs, General knowledge for NTS, PPSC, CSS, FPSC, KPPSC, SPSC, BPSC, AJKPSC, OTS, PTS, and other Govt Jobs, exams & MDCAT, ECAT Entry test preparation.
One Liner
- Kid Martyred, Seven Others Injured In Cross Border Attack From Afghanistan: ISPR. A five-year-old boy was martyred and seven other children were injured in a cross-border attack from Afghanistan, said Inter-Services Public Relations (ISPR) in a statement.
- PM Imran Khan Approves Hike In Salaries Of Govt Employees. Prime Minister Imran Khan on Thursday approved increase in salaries of government employees after a protest in the federal capital.
- Govt Announces 25% Adhoc Allowance For All Federal Employees Of BPS 1 to 19. The government has announced twenty five percent Adhoc allowance for all federal employees of Basic Pay Scale one to nineteen.
- ECP Announces Senate Elections To Be Held On March 3. The Election Commission of Pakistan (ECP) has announced that Senate elections will be held on 3rd of next month.
- Pakistan Successfully Tests Fire Babur Cruise Missile. Pakistan has conducted a successful training launch of Babur Cruise Missile, with a range of 450 kilometers.
- Rs2.5 Charged Over Choosing To Receive Receipt After ATM Transaction. Payment Service Provider (PSP) 1Link has clarified that the fee being charged on receipts after withdrawing cash from ATMs is a part of Go Green exercise to ‘reduce litter’ and to ‘lower the cost of printed receipts’, which users can opt out of by not operating the machine to produce the receipt.
- Pakistan Beat SA In First T20 After Close Encounter. Pakistan overcame belligerent resistance from South African batsmen to win the first T20 international by three runs on Thursday at the Gaddafi Stadium.
- Gold prices continue to fall in domestic market. Gold prices extended a downward trend in the domestic market for the second consecutive day on Thursday as per tola price of yellow metal decreased by Rs100 to Rs111,850
- Rupee strengthens against US dollar. The Pakistani rupee continued to strengthen against the United States (US) dollar on Thursday as it appreciated by 24 paisa against the greenback in the interbank.
Spotlight by The NewsRun
1. COVID-19 IN PAKISTAN
- 24-hour count: Pakistan reported 1,502 new cases and 57 deaths in the past 24 hours. Pakistan also conducted 37,452 tests in the span of 24 hours (P.S. this data was last updated on February 11 at 8:31am).
2. Protesting govt employees clash with police
What’s going on? Govt employees held protests outside various locations in Islamabad. Protestors complained about salary disparities and demanded a pay raise. They tried entering the restricted “Red Zone” where Parliament House is located. Police reportedly tear gassed hundreds of govt employees and arrested dozens of protesters. According to The Express Tribune, protestors threw stones at police officers in return.
The details: According to the Aurat March (i.e. women’s march) organization in Islamabad, police “assaulted” protesting govt employees and pensioners with tear gas, resulting in several injuries. Videos and photos showing clouds of tear gas are making rounds online.
Looking ahead: Defence Minister Pervez Khattak is leading a three member govt committee assigned to negotiate with protestors. There’s still no clear answer about a salary increase. Khattak said the govt is ready to talk if protestors “bring their demands within limits.” He’s basically asking protesting govt employees to keep the treasury and condition of the country in mind while pushing for higher salaries.
The bottom line: #IslamabadProtests is trending on Twitter. People are criticizing the police for tear gassing and arresting govt employees who were exercising their democratic right to protest. Opposition party leaders Bilawal Bhutto and Maryam Nawaz also voiced their support for the protestors. Bhutto and Nawaz suggested that govt workers are asking for higher salaries because they can’t keep up with rising prices.
3. Helping startups attract foreign investment
The State Bank of Pakistan (SBP) is reportedly working on a new loan scheme that will make it easier for local startups to raise capital (i.e. money) in the form of convertible debt from foreign investors. Convertible debt, also known as a convertible debt note, is a type of loan that can be converted into equity (i.e. shares/ownership in a company). Some people are hoping the SBP’s reforms are a game changing development for Pakistan’s startup ecosystem. According to General Counsel at Sarmayacar, Mubariz Siddiqui, this regulatory change will “enable Pakistani entrepreneurs and businesses to attract smart capital and expand to markets abroad.”
- An oversimplified version of how convertible debt works: In order to sell equity, founders normally need to know their company’s valuation. However, when a company is at its earliest stage of formation, it typically doesn’t have enough assets, revenue or customers to determine its value. Convertible debt is a way for startups without a valuation to get loans from private investors. Instead of simply returning the loan in the form of principal (i.e. original amount borrowed) plus interest (i.e. fee charged for borrowing), startup founders pay the early stage investors in equity shares at a later time – normally during the next financing round (e.g. Series A).
- An example of investor perks: Early investors are taking a bigger risk. That’s why convertible debt comes with some extra advantages, like a discount feature. Early investors can buy shares at a cheaper price, compared to what late stage investors have to pay for the same shares once the financing round closes.
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