Thursday, 3 August 2017

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Current Affairs :- 2 Aug


India permitted to construct Kishanganga and Rattle Projects – World Bank

World Bank has said that India is allowed to construct hydroelectric power facilities on tributaries of the Jhelum and Chenab rivers with certain restrictions under the 1960 Indus Waters Treaty (IWT). World Bank’s comments came as officials from India and Pakistan concluded the secretary-level talks over the IWT.

i. This week World Bank said the IWT designates Jhelum, Chenab and Indus as the “Western Rivers” to which Pakistan has unrestricted use, however India is permitted to construct hydroelectric power facilities on these rivers subject to constraints specified in annexure to the treaty.
ii. World Bank added that India and Pakistan have agreed to continue discussions and reconvene in September 2017 in Washington DC.

BRICS trade ministers meeting held in Shanghai

On 1st and 2nd August 2017, Union Commerce Minister Nirmala Sitharaman attended BRICS Trade Ministers meeting in Shanghai, China. On the sidelines of this meeting she also held meeting with Chinese Minister of Commerce Zhong Shan.

i.Measures to expand e-commerce cooperation among Brazil, Russia, India, China and South Africa (BRICS) were discussed at this meeting.
ii. Economic and technological cooperation was included in the agenda for the first time in the trade ministers’ meeting’s history to improve the bloc’s capabilities in service trade, e-commerce and other fields.


Sharif loyalist elected interim PM of Pakistan

Shahid Abbasi Bags 221 Of 342 Votes
Pakistan's National Assembly elected Shahid Khaqan Abbasi as the country's new Prime Minister on Tuesday after the Supreme Court disqualified his predecessor, Nawaz Sharif, last week, deeming him unfit to hold office over allegations of concealing his wealth.

Abbasi, 58, bagged 221 votes in the House of 342 (64%).Syed Naveed Qamar of Pakistan Peoples Party got 47 votes, 33 members voted for Imran Khan-led Pakistan Tehreek-iInsaf candidate Sheikh Rashid while Sahibzada Tariqullah of rightwing Jamaat-e-Islami secured only four votes.Several smaller parties also supported Abbasi in the vote.
Following the SC verdict on a Panama Papers case, the PML-N nominated Abbasi -former petroleum minister -as interim PM until Sharif 's brother Shehbaz gets elected as a National Assembly member from the Lahore seat vacated by the ex-PM.The bypoll is on September 17.
“I am grateful to the members, the masses, and Nawaz Sharif, the prime minister of the masses,“ Abbasi said on the floor of the House after being elected. “I am even thankful to Imran Khan despite his party's mudslinging.“ The court verdict, he said, has failed to create any rift within the PML-N. “There's no charge of corruption against Nawaz Sharif. He was punished for the development of this country ,“ he remarked.
He praised Sharif 's leadership and principles and criticised the opposition for accusing him of corruption (according to a report, Abbasi is facing a Rs 220 billion corruption inquiry over an LNG contract). “Justice demands that 1,000 guilty are set free than one innocent is convicted. It is my firm belief Sharif will return to seat of premiership.“ Abbasi also promised there would be no power shortage after December.“Whether I am in power for 45 days or 45 hours, I will work as the PM of the country and will not merely hold the post.“
Abbasi, a true loyalist of Sharif, stood with him when his government was toppled in 1999 by former Pakistani military dictator Pervez Musharraf. Abbasi, who was imprisoned after the coup, spent two years in jail. But unlike many other colleagues of Sharif, Abbasi remained steadfast and did not switch sides. It was one of the reasons that Sharif chose him as the interim leader.
Abbasi's entry into politics was accidental. Educated in the US at University of California and George Washington University , he was destined to become a businessman and look after his family's business interests but the accidental death of his father Khaqan Abbasi, a minister in General Zia-ulHaq's government, brought him into politics.
Since then, he has been elected six times to the national assembly from Murree -Sharif 's favourite hill station where he is residing at his palatial residence since his ouster from power. He is one of the wealthiest parliamentarians in the country Meanwhile, the Pakistan's anti-corruption watchdog NAB, said on Monday that it would be filing cases against Nawaz Sharif, finance minister Ishaq Dar, Sharif 's children and son-in-law related to the acquisition of four apartments in London, two steel mills in Saudi Arabia, and 16 other Sharif-owned companies in the UK.

Terrorists strike Shia mosque in Af, 20 killed

Attackers, including a suicide bomber, killed more than 20 people at a Shia mosque in Afghanistan's western city of Herat on Tuesday , officials said.
“More than 20 bodies, and 30 injured have so far been brought to the hospital,“ hospital spokesman Rafeeq Shirzai said, referring to the attack on the Jawadya mosque.

Herat police spokesman Abdul Ahad Walizada said terrorists struck the mosque at 8pm. “Based on our initial information two terrorists were involved. One of them was wearing a suicide vest, who detonated himself, while the second one was armed with a rifle. They are both dead,“ Walizada added.




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Reserve Bank announces its third bi-monthly policy review of current fiscal On August 2, 2017, Reserve Bank of India (RBI) announced  ...

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