Category: Pakistan Current Affairs August 2021

Correct Answer: B. Muhammad Amjad Saqib

Microfinance pioneer from Pakistan — who developed an interest-free microfinance programme — was among Tuesday’s September 1winners of Asia’s equivalent to the Nobel Prize. Muhammad Amjad Saqib, 64, won the Ramon Magsaysay Award for his “first-of-its-kind” interest- and collateral-free microfinance program that catalysed scores of poor households. Nearly two decades after its launch, Akhuwat — founded by Dr. Saqib — has grown into the nation’s largest microfinance institution, distributing the equivalent of $900 million and boasting an almost 100 per cent loan repayment rate, the award foundation said.

Corrrect Answer: D. UK

Pakistan will remain on the United Kingdom’s travel red list according to the latest travel review announced on Thursday, August 26, 2021. The decision will cost many Pakistani families millions of rupees. For Pakistani families being on the UK’s travel red list means the loss of millions of Rupees. People from the red list countries have to follow certain protocols such as a mandatory 10-day stay at designated hotels. It incurs hundreds of pounds per person in hotel costs and test fees. For large families, the sum runs into millions of rupees.

Correct Answer: B. $2.7 billion

IMF’s biggest ever allocation of $650 billion free money came into effect from Monday, August 23, 2021, and also brought in additional funding of around $2.7 billion for Pakistan. Pakistan on Tuesday, August 24, 2021, received a new batch of International Monetary Fund (IMF) loans worth 2.7 billion US dollars. The State Bank of Pakistan, according to the official news agency of Pakistan, confirmed that it had delivered the amount within the general allocations approved by the International Monetary Fund to boost global liquidity amid the coronavirus pandemic around the world.

Correct Answer: A. Syed Emad

Pakistan’s scrabble prodigy Syed Imaad Ali wins the world youth title in Karachi.  The 15-year-old talent defeated his opponent in nine out of 13 games in Sunday’s August 22, 2021, finals as Pakistan finished first in the tournament. Syed Emad Ali becoming the only player to win the title twice. Pakistan hosted the event for the second time in a row as the COVID-19 pandemic brought the championship online.