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2018

Daily Dawn Vocabulary with Urdu Meaning | 6 October 2018

Daily Dawn Vocabulary with Urdu Meaning
October 06, 2018

 

 Sinister اشوب، بدشگونی، منحوس

giving the impression that something harmful or evil is happening or will happen
Synonyms: menacing, threatening, ominous, forbidding, baleful, frightening, eerie, alarming,
Antonyms: auspicious, benign, bright, encouraging, favorable,

Rhetoric فن خطابت، بیان بازی

the art of effective or persuasive speaking or writing
Synonyms: oratory, eloquence, power of speech, command of language, expression
Antonyms: inarticulacy, conciseness

Articulate واضح، جوڑنا،

having or showing the ability to speak fluently and coherently
Synonyms: eloquent, fluent, communicative, effective, persuasive, coherent, lucid, vivid,
Antonyms: inarticulate, hesitant, unintelligible

Coercive تشدد آمیز، دباﺅ، سخت

relating to or using force or threats
Synonyms: bullying, violent, forced, forceful, intimidating, Antonyms:

Snare پھندا، پھندے سے پکڑنا، جال

a trap for catching birds or mammals typically one having a noose of wire or cord
Synonyms: trap, gin, net, noose; rarespringe
Antonyms: disentangle, untangle

Perpetual مستقل طور پر، دائمی، مسلسل ہمیشہ

never ending or changing
Synonyms: everlasting, never-ending, eternal, permanent, unending, endless
Antonyms: transitory, temporary, intermittent

Perplexed مضطرب، پریشان یا حیران، گھبرایا ہوا ہونا

completely baffled; very puzzled
Synonyms: puzzle, baffle, mystify, bemuse, bewilder, confound, confuse, nonplus, disconcert,
Antonyms: undaunted, unfazed, composed, untroubled

Disruptive تفرقہ ڈالنے والا، منتشر کرنا

causing or tending to cause disruption
Synonyms: troublemaking, troublesome, unruly, rowdy, disorderly, undisciplined, attention-seeking,
Antonyms: well behaved, manageable

Sovereign حاکمیت، اقتدار اعلیٰ، مختار

a supreme ruler, especially a monarch
Synonyms: ruler, monarch, supreme ruler, Crown, crowned head, head of state,
Antonyms: inconsequential, insignificant, minor, negligible

Congested گنجان، بھیڑ بھاڑ

(of a road or place) so crowded with traffic or people as to hinder or prevent freedom of movement
Synonyms: crowded, overcrowded, full, overfull, overflowing, full to overflowing/bursting
Antonyms: clear

Daily Dawn Vocabulary with Urdu Meaning | 6 October 2018 Read More »

English, English Grammar

MCQs Misc. Topics (September 9, 2018)

What type of animals make up the biggest group of amphibians? –
a. Bats
b. Frogs

What film series stars Marlon Brando and Al Pacino as leaders of a New York Mafia family? –
a. The Godfather
b. American Gangster

How many hours are there in one full week? –
a. 168 hours
b. 192 hours

Which Roman numerals represent the number 40? –
a. LX
b. XL

The diameter is half of the radius? –
a. True
b. False

Which country was Arnold Schwarzenegger born in? –
a. America
b. Cuba
c. Australia
d. Austria

During which year did the Apple iPhone first go on sale? –
a. 2000
b. 2004
c. 2005
d. 2007

Which country is Santiago the capital of? –
a. Somalia
b. Chile

Who designed the Statue of Liberty? –
a. Bartholdi
b. Igor Sikorsky

Which is the only mammal that able to kneel on all fours? –
a. Elephant
b. Camel

Where was the first nuclear reactor built? –
a. USA
b. France

Which country has the most football clubs? –
a. Spain
b. South Africa

What is the name of the branch of medicine that focuses on eyesight?
a. Oncology
b. Optometry

In a game of cricket, how many runs are awarded for hitting the ball over the boundary rope without bouncing? –
a. Four Runs
b. Six Runs

At 119 miles long, what is the name of Scotland’s longest river?
A. River Tay
B. River Dublin

Since 1987, which Tennis Grand Slam tournament has been the fourth and final in the tennis calendar? –
a. Australian Open
b. US Open

What is the name of the founder of the company Amazon who later went on to purchase The Washington Post newspaper?
a. Jeff Bezos
b. Steve Jobs

Which is the only country to have taken part in every football World Cup ?
a. Brazil
b. France

Writer of Gulliver’s Travels Jonathan Swift is ?
a. American
b. British
c. Irish 
d. Greek

Clark Kent is the real name of which superhero?
a. Superman
b. Mr. Bean

“Alter Ego”
a. Close friend
b. Worst enemy
c. Distant relative
d. Forgotten Incident

Into how many regions the brain is mainly divided
a. 2
b. 3
c. 4
d. 5

Cuba is located in:
a. Central Asia
b. Eastern Europe
c. North America 
d. Far Fast

Which out of the flowing took place in 1963?
a. Indo Soviet Military Pact
b. Settlement of Pak Chin Border dispute
c. Uprising in Kashmir
d. Indo China war

During the anti- government movement of 1977, who was the President of PNA(Pakistan National Alliance)
a. Nawabzada Nasrullah Khan
b. Zulfiqar Ali Bhutto
c. Air Marshall Asghar Khan
d. Khan Abdul Wali Khan

Who is considered to be the Chief Architect of 1956 Constitution ?
a. Muhammad Ali Bogra
b. Ch. Muhammad Ali

Who was the 1st Muslim Caliph of Spain ?
a. Abd Al Malik
b. Abd ar-Rahman

The Muslim Invaded Spain in :
a. 714
b. 713
c. 712
d. 711

The Secon Ummayiad Caliph was:
a. Walid bin Abul Malik
b. Yazid bin Muawiya

Whic Abbasid Caliph laid the foundation of “Baghdad”
a. Harun Ur Rashid
b. Abbasi al Safah
c. Mamun Ur Rashid
d. Al Mansoor

“A Short History of the Saracens” was written by?
a. Allama Hibli Naumani
b. Syed Ameer Ali 
c. Sir Syed Ahmed Khan
d. None

Iron Lady ??
a. Margret Thatcher
b. Inda Gandhi
c. Razia Sultana
d. Benazir Bhutto

Correct Spellings
a. Tusion
b. Tuition

A remedy for all deceases is know as :
a. Antiseptic
b. Panacea

Opposite of “Paucity”
a. Scanty
b. Abundance

MCQs Misc. Topics (September 9, 2018) Read More »

History, MCQs / Q&A, World

آئین پاکستان 1973 میں اب تک کی گئی 25 ترامیم آسان اردو زبان میں اختصار کے ساتھ

آئین پاکستان 1973 میں اب تک کی گئی 25 ترامیم آسان اردو زبان میں اختصار کے ساتھ ملاحظہ فرمائیں۔

پہلی ترمیم 1974
آئین پاکستان 1973 کی پہلی ترمیم میں پاکستان کے حدود اربعہ کا دوبارہ تعین کیا گیا.

دوسری ترمیم 1974
قادیانیوں کو غیر مسلم اقلیت قرار دیا گیا.

تیسری ترمیم 1975
اس ترمیم میں Preventive Detention کی مدت کو بڑھایا گیا۔Preventive Detention کا مطلب ہے کسی ایسے شخص کو نامعلوم مقام پر رکھنا جو ریاست پاکستان کے خلاف سرگرمیوں میں ملوث ہو۔

چوتھی ترمیم 1975
اقلیتوں کو پارلیمنٹ میں اضافی سیٹیں دی گئیں۔

پانچویں ترمیم 1976
ہائی کورٹ کا اختیار_سماعت وسیع کیا گیا

چھٹی ترمیم 1976
ہائی کورٹ اور سپریم کورٹ کے ججز کی ریٹائرمنٹ کی مدت بالترتیب 62 اور 65 سال کی گئ۔

ساتویں ترمیم 1977
وزیر اعظم کو یہ پاور دی گئ کہ وہ کسی بھی وقت پاکستان کی عوام سے اعتماد کا ووٹ حاصل کر سکتا ہے۔

آٹھویں ترمیم 1985
پارلیمانی نظام سے نیم صدارتی نظام متعارف کروایا گیا اور صدر کو اضافی پاورز دی گئیں۔

نویں ترمیم 1985
شریعہ لاء کو لاء آف دی لینڈ کا درجہ دیا گیا۔

دسویں ترمیم 1987
پارلیمنٹ کے اجلاس کا دورانیہ مقرر کیا گیا کہ دو اجلاس کا درمیانی وقفہ 130 دن سے نہیں بڑھے گا

گیارھویں ترمیم 1989
دونوں اسمبلیوں میں سیٹوں کی Revision کی گئ۔

بارھویں ترمیم 1991
سنگین جرائم کے تیز ترین ٹرائل کے لئے خصوصی عدالتیں عرصہ 3 سال کے لئے قائم کی گئیں

تیرھویں ترمیم 1997
صدر کی نیشنل اسمبلی تحلیل کرنے اور وزیر اعظم ہٹانے کی پاورز کو ختم کیا گیا۔

چودھویں ترمیم 1997
ممبران پارلیمنٹ میں Defect پائے جانے کی صورت میں ان کو عہدوں سے ہٹانے کا قانون وضح کیا گیا۔

پندرھویں ترمیم 1998
شریعہ لاء کو لاگو کرنے کے بل کو پاس نا کیا گیا۔

سولہویں ترمیم 1999
کوٹہ سسٹم کی مدت 20 سے بڑھا کر 40 سال کی گئ

سترھویں ترمیم 2003
صدر کی پاورز میں اضافہ کیا گیا

اٹھارویں ترمیم 2010
اس ترمیم میں NWFP کا نام تبدیل کیا گیا اور آرٹیکل 6 متعارف کروایا گیا،اور اس کے علاوہ صدر کی نیشنل اسمبلی تحلیل کرنے کی پاور کو ختم کیا گیا۔

انیسویں ترمیم 2010
اسلام آباد ہائی کورٹ قائم کی گئ،اور سپریم کورٹ کے ججز کی تعیناتی کے حوالے سے قانون وضح کیا گیا۔

بیسویں ترمیم 2012
صاف شفاف انتخابات کے لئے چیف الیکشن کمشنر کو الیکشن کمیشن آف پاکستان میں تبدیل کیا گیا۔

اکیسویں ترمیم 2015
سانحہ APSکے بعد ملٹری کورٹس متعارف کروائی گئیں۔

بائیسویں ترمیم 2016
چیف الیکشن کمیشن آف پاکستان کی اہلیت کا دائرہ کار تبدیل کیا گیا کہ بیورو کریٹس اور ٹیکنو کریٹس بھی ممبر الیکشن کمیشن آف پاکستان بن سکیں گے۔

تئیسویں ترمیم 2017
سال 2015 میں قومی اسمبلی نے اکیسویں ترمیم میں 2 سال کے لئے ملٹری کورٹس قائم کیں۔ یہ دوسال کا دورانیہ 6 جنوری 2017 کو ختم ہو گیا،اس تئیسویں ترمیم میں ملٹری کورٹس کے دورانیے کو مزید 2 سال کے لئے 6 جنوری 2019 تک بڑھایا گیا۔

چوبیسویں ترمیم 2017
مردم شماری کے نتائج کی بنیاد پر حلقہ بندیوں کو دوبارہ تشکیل دیا گیا۔

پچیسویں ترمیم 2018
فاٹا کو خیبر پختونخواہ میں ملانے کے لئے صدر نے 31 مئ 2018 کو دستخط کیئے.

آئین پاکستان 1973 میں اب تک کی گئی 25 ترامیم آسان اردو زبان میں اختصار کے ساتھ Read More »

Political Science

Kuldip Nayar Quiz

1- When was Kuldip Nayar born?
  • Correct Answer: 14 August 1923
2- Where was Kuldip Nayar born?
  • Correct Answer: Sialkot
3- Where did Kuldip Nayar study journalism?
  • Correct Answer: Medill School
4- When was Kuldip Nayar Press Officer of Press Information Bureau?
  • Correct Answer: 1954-1964
5- When was Kuldip Nayar Editor of The Statesman?
  • Correct Answer: 1967-1975
6-  When was The Judgement published?
  • Correct Answer: 1977
7-  Where did Kuldip Nayar represent India as High Commissioner?
  • Correct Answer: UK
8- Which book has Kuldip Nayar’s articles on relations between India and Pakistan?
  • Correct Answer: Wall at Wagah
9-  When did Kuldip Nayar die?
  • Correct Answer: 23 August 2018
10-  Where did Kuldip Nayar die?
  • Correct Answer: Delhi

Kuldip Nayar Quiz Read More »

MCQs / Q&A, Personalities, Political Science

Day by Day Current Affairs (August 29, 2018)

 August 29, 2018; National Current Affairs

  1. Cabinet forms six bodies to execute reforms agenda
  • In a move to implement its 100-day plan of `change`, the federal cabinet on August 28, 2018 set up six committees to introduce reforms in different sectors and to carve out a new province from Punjab, besides appointing the Intelligence Bureau (IB) director general and the head of National Counterterrorism Authority (Nacta).
  • The cabinet meeting, which was chaired by Prime Minister Imran Khan, also decided to expedite the process of the merger of the erstwhile Federally Administered Tribal Areas (Fata) with Khyber Pakhtunkhwa (KP).
  • The cabinet decided to appoint Nacta chairman Dr Mohammad Suleman Khan (a grade-22 officer of the police service) as IB director general, while commandant of the National Police Academy Mehr Khalig Dad Lak, also a grade 22 officer, has been appointed as Nacta chairman in his place.
  • Another task force was formed on National Accountability Bureau (NAB) law reforms with main focus to retrieve national wealth laundered to other countries. Another task force constituted on Criminal Procedure Code reforms was asked to give its recommendations within 90 days to address the problems being faced by antiterrorism courts.
  • Other task forces were set up for introducing austerity measures, reforms in civil services /federal government restructuring, civil laws and the health sector.
  • One of the important decisions made in the meeting was that the government would not remove any official working on a contractual basis.
  1. Pakistan, India to begin talks on water disputes today
  • A nine-member delegation led by the Indian water commissioner arrived on August 28, 2018 for talks with their Pakistani counterparts on water disputes on the platform of the Pakistan-India Permanent Indus Commission.
  • Pakistan Water Commissioner Syed Mohammad Mehar Ali Shah welcomed the delegation, headed by Indian Water Commissioner Pradeep Kumar Saxena, at the Wagah border.
  • The two-day deliberations on water disputes will begin on August 29, 2018 (today). The talks will be held at the offices of the National Engineering Services of Pakistan (Nespak) in Lahore.
  • The Indian team was earlier supposed to arrive here for talks in July but the visit was rescheduled in view of the July 25 general elections.
  • The water commissioners of the neighbouring countries are required to meet twice a year and arrange technical visits to projects` sites and critical river headworks.
  • A government official said they would raise their concerns over the construction of 1,000MW Pakal Dul and 48MW Lower Kalnal hydroelectric projects on the River Chenab by New Delhi, ignoring Islamabad`s objections to their designs.
  1. Senate panel okays idea of criminalising enforced disappearances
  • A Senate committee on August 28, 2018 approved the idea of criminalising enforced disappearances.
  • Chairman of the Senate`s Functional Committee on Human Rights Mustafa Nawaz Khokhar gave the Ministry ofHuman Rights a month to engage all stakeholders to draft a bill for criminalising enforced disappearances and making it a punishable offence.
  • The directive came after the Chairman of the Commission of Inquiry on Enforced Disappearances, retired Justice Javed Iqbal, urged the committee to goforlegalsanctions torecover all missing persons. The meeting was informed that at presentallcases ofenforced disappearances were registered under Section 365 of the penal code which dealt with kidnapping.
  1. FBR gets new chief
  • The Pakistan Tehreek-i-Insaf (PTI) government on August 28, 2018 posted a senior officer of Pakistan Administration Services (PAS), Dr Muhammad Jehanzeb Khan, as chairman Federal Board of Revenue (FBR).
  • Mr Khan has also been given the additional post of secretary Revenue Division.
  • The outgoing FBR head, Ms Rukhsana Yasmin, who was posted as the first woman chairperson of the board on July 2 by the interim government, currently awaits directives on her new posting.
  • Dr Jehanzeb has served in Punjab for 10 years. He was serving as the secretary Board of Investment after being transferred by interim provincial government.
  • Previously, he has served as the chairman Planning and Development Board during the PML-N government.
  • PTI has emerged as the third consecutive party after PPP and PML-N to have posted non-tax officers from PAS to head FBR right at the start of their respective terms.
  • The PPP government had posted PAS officers including Sohail Ahmed, followed by Salman Siddique as chairmen FBR, while the PML-N government followed the previous government`s tradition when it posted Tariq Bajwa, a senior officer of PAS as chairman FBR.
  1. `2.2m abortions per year indicate unmet contraceptive demand`
  • A representative of the United Nations Population Fund (UNFPA) on August 28, 2018 said 2.2 million abortions were carried out in Pakistan every year which clearly showed that there was an unmet demand for contraceptives in the country.
  • `Imagine how difficult it would be for a woman in Pakistan to go for an abortion. It shows that she did not want pregnancy but we failed to provide her the contraceptive. It is not acceptable at all and we need to do something to avoid such pregnancies,` Dr Hassan Mohtashami said at the launch of Pakistan Demographic and Health Survey (PDHS). The survey was conducted by the National Institute of Population Studies (NIPS).
  • Dr Mohtashami said though Pakistan maynot achieve the commitment of family planning by 2020 it was not about an international commitment rather about the health of women.
  • As many as 34pc women were using any kind of contraceptives. The use of modern contraceptives was highest in Islamabad and lowest in Balochistan. The trend of unmet need for family planning has decreased from 31pc (in 1990) to 17pc. Under-five mortality rate is 74 per 1,000 children and the infant mortality rate is 62 per 1,000 live births. Around 66pc children received all vaccines and only four per cent did not get any vaccine.
  1. `Education, health emergency` in Balochistan
  • The Balochis tan government has decided to impose health and education emergency in the province and bring maximum entities in tax net through widening the working of the Balochistan Revenue Authority to increase provincial financial resources for reducing deficit of the current budget.
  • These decisions were made in the maiden meeting of the six-party alliance coalition`s cabinet here on August 28, 2018, which lasted for several hours with Chief Minister Jam Kamal Khan Alyani in the Chair.
  • The newly inducted minister, Zahoor Ahmed Buledi, announced the decisions after the cabinet meeting.

August 29, 2018; International Current Affairs

  1. Russia to hold biggest exercises since Cold War
  • Russia will next month hold its biggest war games since the fall of the Soviet Union, Defence Minister Sergei Sholgu said on August 28, 2018, a massive military exercise that will also involve the Chinese and Mongolian armies.
  • The exercise, called Vostok-2018 (East-2018), will take place in central and eastern Russian military districts and involve almost 300,000 troops, more than 1,000 military aircraft, two of Russia`s naval fleets, and all of its airborne units, Shoigu said in a statement.
  • The manoeuvres will take place at a time of heightened tension between the West and Russia, which is concerned about what it says is an unjustified build-up of the Nato military alliance on its western flank.
  • Nato says it has beefed up its forces in eastern Europe to deter potential Russian military action after Moscow annexed Ukraine`s Crimea in 2014 and backed a pro-Russian uprising in eastern Ukraine.
  1. American poet Sonia Sanchez wins $100,000 prize
  • Poet and author Sonia Sanchez has won a $100,000 lifetime achievement prize. The Academy of American Poets announced on August 28, 2018 that Sanchez is this year’s winner of the Wallace Stevens Award. Sanchez, 83, is known for such collections as Shake Loose My Skin: New and Selected Poems.
  • Also on August 28, 2018, five young poets received fellowships worth more than $25,000 apiece.
  • On August 28, 2018, the Poetry Foundation’s Poetry Magazine announced this year’s winners of the Ruth Lilly and Dorothy Sargent Rosenberg Poetry Fellowship. The poets are Safia Elhillo, Hieu Minh Nguyen, Sam Sax, Natalie Scenters-Zapico, and Paul Tran. With prize money totaling $129,000, each will be given $25,800.
  • The fellowship was started in 1989. Winners must be between age 21 and 31 and the money is meant to give them time to write and study poetry. Work from each of the five winners will appear in the December issue of Poetry Magazine.

August 29, 2018; Sports Current Affairs

  1. Pakistan down arch-rivals India in volleyball, thrash BD in hockey
  • Of the three victories for Pakistan at the Asian Games on August 28, 2018, there was little doubt that the one by the volleyball team was the sweetest.
  • After all this was against arch-rivals India, even if it was a 9-12th place playoff.
  • On a day when the hockey team produced yet another commanding performance, recording their fifth straight win, and the squash team won its third consecutive match, it was the 3-1 volleyball victory over India that was most celebrated.
  • In a contest lasting 100 minutes, Pakistan came back from a set down to win 21-25, 25-21, 25-21, 25-23 and will now face China in a 7-10th place playoff.
  • Pakistan closed their Pool `B` campaign in hockey with a perfect record after another big win, thrashing Bangladesh 5-0 to set up asemi-final against Japan on August 30, 2018. Atig Arshad and Mubashar Ali both scored two goals each while Ali Shan added the other goal.
  1. PCB unveils dates of Australia, NZ series in UAE
  • Australia will play their first Test since the infamous ball-tampering saga on the ill-fated tour of South Africa last March when Pakistan host them in the United Arab Emirates in a two-match series from Oct 7 besides three Twenty20 Internationals.
  • New Zealand then arrive in the UAE to take on Pakistan in three Tests, three One-day Internationals, and as many Twenty20 Internationals.
  • According to the schedule announced on August 28, 2018 by the Pakistan Cricket Board (PCB), Australia open their tour with a four-day first-class fixture against Pakistan `A` at the ICC Academy in Dubai.
  • Pakistan, who are currently the top ranked side in the shortest format, would be playing six T20 Internationals in the space of 12 days since they also host New Zealand in three matches from Oct 31 to Nov 4.
  • The forthcoming months are probably Pakistan`s busiest in the lead-up to the 2019 ICC World Cup in England because Sarfraz Ahmed`s men kickstart the international season with the Asia Cup in the UAE from Sept 15 before playing Australia and New Zealand.

Day by Day Current Affairs (August 29, 2018) Read More »

Current Affairs, Sports, Test, World

IS IMF AVOIDABLE? (By Shahid Kardar)

IT is now generally recognised that we face the herculean task of settling our external obligations. However, what is less widely understood is that the structural factors underlying the massive current account deficit of and the rapidly growing debt repayments have made the present crisis deeper and more protracted in nature (especially with the rising price of oil). In the short-term the external financing gap presents a formidable challenge with the more immediate requirement likely to be $28 billion for the current year.
And the fiscally irresponsible budget for 2018-19 tabled by the outgoing government is expected to worsen both the external and domestic imbalances, thereby queering the pitch for the next government, making its task even more daunting, both economically and politically (the latter may just make the withdrawal of the income tax concessions almost impossible).

 

An IMF programme has become unavoidable because no amount of external flows from friendly countries and bonds taken up by our diaspora will be able to meet the financing requirement of $75bn over three years. This die was cast some time ago and while some respite has been provided by the recently acquired Chinese loans, dithering and procrastination in starting discussions with the IMF will weaken our negotiating position with each passing day.
More importantly, even a double-digit IMF assistance (more than our actual entitlement) will be spread over a three-year period. This will result in available resources(including aid from the World Bank and ADB) falling well short of the funds required to settle this year`s liabilities, unless the new government undertakes politically unpopular adjustments. These adjustments (briefly highlighted below) are likely to include further depreciation of the rupee, partly because the pressure on the rupee and the foreign exchange reserves is not likely to subside anytime soon following the initiation of `global currency wars` as one outcome of the trade wars. This revision will address the issue of creeping speculation against the rupee while improving the competitiveness of our exports.
Next, to maintain reserves at a level that can cover at least two months of imports we will need to curb imports by at least 15 percent lower (covering items beyond just consumer products). To achieve this objective supplementary measures, like broader application of cash margins and upward revisions in customs duties, will be required, which will admittedly lead to a compression in growth.
Corrective measures would extend to further enhancement of interest rates. The regime of low-interest rates even after the 14pc depreciation of the rupee continues to disincentivise savings in rupee-denominated financial instruments that would provide funds for investment (incentive worsened by the withholding tax on banking transactions). Not surprisingly, rupee deposits have grown by only 7pc (just above the interest earned during 2018 on rupee deposits at the beginning of the year July 1, 2107) while the net increase in the National Savings Schemes is actually negative! Admittedly, this measure will also have a dampening effect on growth.
Only by entering into an IMF programme will we be able to ease the pain of correction. The adoption of a Fund programme will not only facilitate the mobilisation of funds from multilaterals but also improve our access to international capital markets (both in terms of tenor and interest rates), thereby enabling a gradual and less painful path for undertaking the long delayed essential external adjustments.
The World Bank and the ADB, however, can at best provide $2bn each. But these funds are contingent upon the availability of a `certificate of good behaviour`/comfort letter from the IMF, requiring our endorsement of a Fund programme. Moreover, the $4bn from these institutions is not likely to flow into our coffers in full. Their assistance is now essentially in the form of project aid. And going forward we may not have the absorptive capacity to utilise these volumes. In the short-term there will have to be an inevitable sharp pruning of the rupee component of the Public Sector Development Programme (already cluttered with too many schemes) to cut the fiscal deficit to manageable levels, unless the development programme is rationalised involving a renewed focus on water and energy and the scrapping of schemes at the initial stages of implementation.
One hopes that the slowing down of the growth rate following the squeezing of imports will be less harsh as a consequence of a f aster rate of growth of exports and CPEC-related investments accompanied by timely payments of duty drawbacks and tax and GST refunds at the time of export receipts.
The inflationary impact of the measures above can partly be moderated by the utilisation of cheaper sources of energy through an improvement in the fuel mix and by adjusting downward the support and procurement prices of sugar and wheat to reflect the decline in international commodity prices.
Moving onto the issue of the fiscal deficit, the fiscal position of the federal government is highly compromised with limited room for maneuverability (more than 58pc of tax revenues being earmarked for the provinces). Such an outcome has been precipitated by the failure of the federal government to a) right-size itself af ter the 18th Amendment; b) to pass on any portion of the burden of energy and fertiliser subsidies and BISP allocations to the provinces; c) to stop the steady accumulation in losses of SOEs and its continued financing and execution of vertical programmes and intra-provincial projects.
To summarise the discussion above we are witnessing the brewing of a full-blown fiscal crisis. It should be obvious that the challenges identified above will literally consume the energies of the next government in its first year of office, requiring painful adjustments throughout the currency of its tenure (especially during what is generally referred to as the honeymoon period).
A fear is that the likely Fund programme would again be cluttered with too many performance criteria and targets, several of them covering subjects in which the IMF cannot claim core competence. Ideally, given the IMF`s technical capabilities the programme should only cover tax policy and structure, monetary policy and balance of payments. Regrettably, despite its acknowledged know-how of tax systems, the IMF has been guilty of supporting, on its watch, the development of a complex and dysfunctional tax regime and a cumbersome management system, resulting, for example, in a structure of almost 70 different types of withholding taxes and a legal category `non-filer`, thereby failing badly to induce fundamental sustainable reforms in the area of its expertise.
This article has deliberately chosen to remain silent on whether the IMF can be bludgeoned into translating the threat of the US Secretary of State into actual actions. It is not obvious how the Fund will be able to ring-fence its assistance to prevent its utilisation to settle our Chinese liabilities if the latter choose nether to reschedule their loans nor accept settlement through transfer of Pakistani assets.
Courtesy: Daily Dawn

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