Today’s top Pakistan current affairs January 15, 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.
1. COVID-19 IN PAKISTAN
2. Concerns about forced labor of Uighur Muslims
What’s going on? The US is banning imports of cotton and tomato products from China’s Xinjiang province. The import ban applies to raw fibers, apparel, and textiles made from Xinjiang-grown cotton, as well as canned tomatoes, sauces, and seeds. US Customs and Border Protection (CBP) said it received “reasonable information” about these products being made with forced labor from detained Uighur Muslims in Xinjiang. A CBP representative said the agency would not let the Chinese govt exploit slave labor to import goods into the US below fair market price.
The details: More than 1 million Uighur Muslims, and members of other Muslim minority groups, are reportedly being detained in what US Secretary of State, Mike Pompeo, calls “internment camps.” These facilities allegedly force Muslim detainees to work without payment in nearby factories (i.e. this means slave labor). However, the Chinese govt keeps denying allegations about forced labor in Xinjiang. Instead, Chinese authorities claim its camps are vocational training centers needed to combat extremism and deradicalize segments of the population.
Tell me more: According to media reports, a large number of Uighur Muslims are forced to pick cotton by hand. Cotton is Xinjiang’s largest export. In fact, 85% of the cotton produced in China comes from Xinjiang. Tomato products worth $10 million were imported from China into the US over the past year.
The bottom line: While several countries have spoken out against China’s treatment of Uighurs, Pakistan has been pretty quiet about alleged human rights abuses against Uighurs in China. It’s important to note that China has given Pakistan a lot of financial help in the form of loans and investment projects. At the same time, Prime Minister Imran Khan regularly condemns the oppression of Muslims and Islamophobia around the world.
3. Moody’s projected economic growth
The credit rating company reported that Pakistan’s economy will likely grow by 1.5% during the 2021 fiscal year. In other words, Moody’s expects economic activity to bounce back at a modest pace. According to Moody’s, Pakistani banks are looking stable at the moment, due to steady liquidity (i.e. readily available cash) and deposit-based funding (i.e. a high percentage of customer deposits). However, Moody’s thinks the banking sector is still facing some risks. Slow economic recovery could affect loan quality (i.e. the likelihood that a bank will be repaid the money it distributed). Also, interest rate cuts in 2020 could impact the banking sector’s profitability, since lower interest rates make borrowing money cheaper. Last year, the central bank cut interest rates by 625 basis points to try and boost economic activity during the pandemic.
4. Guess who wasn’t invited to Biden’s inauguration after all?
In a previous newsletter, we mentioned that PPP Chairman, Bilawal Bhutto-Zardari, was invited to the US President-elect’s inauguration ceremony on January 20th. Bhutto-Zardari’s dad, PPP Co-Chairman and former President of Pakistan, Asif Ali Zardari, supposedly got an invite as well. PPP Senator, Farhatullah Babar, denied rumors about the inauguration invites, which were making rounds on social media, and in several news reports. According to Babar, the father-son duo weren’t invited, and won’t be attending the inauguration.
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