Pakistan is currently facing a severe economic crisis characterized by a shortage of dollars, leading to a complete halt in the import of essential food and beverages. The situation has resulted in thousands of stranded containers at ports, incurring fines and additional charges for traders. The lack of sufficient foreign exchange, which the Pakistan State Bank (PSB) has been unable to provide, has further exacerbated the country’s economic challenges.
Importers Forced to Suspend Imports:
Due to the unavailability of dollars, commercial dealers across the country have been compelled to suspend imports. The Karachi Wholesale Grocers Association Society reported that banks have refused to provide the necessary foreign currency, leaving importers with no choice but to halt shipments. A meeting held by the association concluded that no shipment should be dispatched after June 25.
Depletion of Foreign Reserves:
Pakistan’s dollar crisis can be attributed primarily to the depletion of the country’s foreign reserves over the past year. The economy suffered a significant setback due to devastating floods in northwestern Pakistan, followed by disruptions in oil supplies during the Russia-Ukraine war. These events made it challenging to pay high tariffs on imported oil, contributing to the current crisis.
Political and Economic Challenges:
The economic condition worsened amidst a political crisis that arose when Imran Khan was voted out of office in April 2022. The new Prime Minister, Shehbaz Sharif, faced difficulties in arranging loans, leading to frequent visits to Saudi Arabia and the United Arab Emirates (UAE) in search of bailout packages. The political and economic instability has further strained Pakistan’s ability to address the dollar crisis effectively.
High Inflation and Economic Hardships:
Pakistan is currently grappling with a 50-year high inflation rate, pushing a significant portion of its population towards poverty. To alleviate the burden on people amidst skyrocketing prices, the government established centers for the distribution of free wheat flour in April. Unfortunately, stampedes occurred at these centers, resulting in several fatalities and setbacks for the scheme. Pakistan’s high inflation, unemployment, and low GDP growth rates have placed the country at a disadvantage compared to its neighboring nations.
Reliance on Foreign Loans and Debt Repayment:
Pakistan’s economic model heavily relies on foreign loans, making the government dependent on external assistance and exposing the country to the risk of bankruptcy. In the coming years, Pakistan faces the challenge of repaying nearly $80 million in debt, with a significant portion owed to China, a consistent supporter. While recent reports indicate a $1 billion loan from China, the sustainability of such aid remains uncertain.
Prime Minister Narendra Modi led a unique yoga session at the United Nations Headquarters on Wednesday, marking the 9th International Day of Yoga. The historic celebration saw the participation of top UN officials, envoys from around the world, and prominent individuals. The event showcased India’s commitment to nurturing traditions that unite and embrace diversity, with a call to eliminate contradictions and obstacles through the practice of yoga.
Unity and Embracing Diversity:
In a video message, Prime Minister Modi emphasized the importance of eliminating contradictions, blockages, and resistances through yoga. He highlighted that yoga strengthens the sense of unity among individuals and expands their inner vision, connecting them with a consciousness that fosters love for all living beings. The prime minister urged the world to present the spirit of ‘Ek Bharat, Shreshtha Bharat’ (One India, Great India) as an example to strive for global unity.
UN-Mandated Occasion:
India’s Permanent Representative to the UN, Ambassador Ruchira Kamboj, described the yoga celebration as a unique occasion, considering Prime Minister Modi’s pivotal role in envisioning and leading International Yoga Day. She noted that the event generated tremendous anticipation and interest, reflecting the global appeal of yoga as an ancient Indian practice that transcends borders and unites people worldwide. Kamboj also highlighted the presence of children performing yoga on stage as a particularly unique aspect of the event.
Yoga’s Universal Appeal:
UN Secretary-General Antonio Guterres underscored the unifying power of yoga, stating that it brings together the body and mind, humanity and nature, and millions of people across the globe. In a world marked by divisions, yoga’s benefits, such as reducing anxiety and promoting mental well-being, are particularly valuable. Guterres emphasized that yoga reveals our common humanity, fostering unity and encouraging efforts to build a more harmonious world for people, the planet, and ourselves.
The Historic Yoga Session:
The yoga session, held on the North Lawn of the UN Headquarters, took place from 8 to 9 am on June 21. This location is significant as it houses a bust of Mahatma Gandhi, gifted by India to the UN during its presidency of the Security Council in 2022. Prime Minister Modi paid his respects to the bust, which now proudly adorns the UN headquarters. The event was attended by top UN officials, ambassadors, envoys, delegates from Member States, and members of the global and diaspora community.
Global Participation:
The Prime Minister-led Yoga Day celebrations witnessed participation from people representing over 180 countries, including diplomats, artists, academicians, and entrepreneurs. The event showcased the universal appeal of yoga and its growing popularity worldwide. It served as a reminder of the ancient practice’s origins in India and its ability to unite people from diverse backgrounds.
Every year, the 21st of June marks the summer solstice in the Northern Hemisphere, known as the longest day of the year. On this special day, the sun reaches its highest point in the sky, casting its rays over the Earth for an extended duration. In this article, we delve into the scientific and astronomical reasons behind why June 21st holds the distinction of being the longest day of the year.
Why 21st June is Longest?
The Longest Day of the Year: Exploring the Significance of June 21st
The Tilt of Earth’s Axis: The primary factor influencing the length of daylight is the tilt of Earth’s axis. The Earth rotates on an axis that is tilted by approximately 23.5 degrees relative to its orbit around the sun. This tilt causes the angle at which sunlight reaches different parts of the planet to change throughout the year, leading to variations in the length of daylight.
The Equinoxes and Solstices: The Earth experiences four major astronomical events known as equinoxes and solstices, which mark the changing seasons. On the equinoxes (around March 21st and September 21st), day and night are of equal length. However, during the solstices (around June 21st and December 21st), the duration of daylight significantly varies.
The Summer Solstice: During the summer solstice, which falls on June 21st in the Northern Hemisphere, the North Pole tilts most directly towards the sun. As a result, the sun appears at its highest point in the sky, leading to the longest duration of daylight throughout the year. On this day, the Arctic Circle experiences the phenomenon of the midnight sun, where the sun remains visible for a full 24 hours.
The Relationship Between Latitude and Daylight: Another key factor affecting the length of the day is an observer’s latitude. The closer an observer is to the North Pole, the longer the day becomes during the summer solstice. Conversely, regions closer to the South Pole experience shorter days during this time, as the South Pole is tilted away from the sun.
Atmospheric Factors: While the tilt of the Earth’s axis primarily determines the length of daylight, atmospheric factors can influence the perceived duration of the longest day. Factors such as atmospheric refraction, scattering, and the position of the observer on Earth can slightly affect the apparent position of the sun and, consequently, the length of daylight experienced.
Grand Arrival and Engaging with the Indian Diaspora: PM Modi’s visit to the US began with a grand arrival at Lotte New York Palace hotel, where he was greeted with chants of ‘Bharat Mata ki Jai.’ He also interacted with the Indian diaspora, graciously giving autographs to representatives.
Meeting with Elon Musk: A highlight of the visit was PM Modi’s meeting with Tesla CEO Elon Musk. Musk described their conversation as excellent and expressed his plans to visit India in 2024, indicating the potential for future collaborations between India and Tesla.
Engagements with Prominent Personalities: PM Modi had insightful meetings with notable personalities during his time in New York. He met author and academic professor Robert Thurman, essayist and statistician Professor Nassim Nicholas Taleb, Nobel laureate Professor Paul Romer, American investor Ray Dalio, and astrophysicist Neil DeGrasse Tyson. These interactions focused on various topics, including resilience, risk-taking, India’s response to COVID-19, and strengthening international partnerships.
State Dinner Hosted by President Biden: PM Modi’s visit includes a state dinner hosted by President Joe Biden and First Lady Jill Biden on June 22. This prestigious event serves as a platform for further discussions and deepening the bilateral relationship between India and the United States.
Address to the Joint Session of the US Congress: As part of his visit, PM Modi will deliver an address to the joint session of the US Congress on June 22. This provides an opportunity for him to share India’s perspectives and strengthen ties with the legislative branch of the US government.
Talks with President Biden: PM Modi will also hold talks with President Joe Biden in Washington D.C. These discussions will focus on consolidating bilateral cooperation and engagement in plurilateral forums such as the G20, Quad, and Indo-Pacific Economic Framework for Prosperity (IPEF).
International Yoga Day Message: Ahead of the special event at the UN headquarters, PM Modi shared a message on International Yoga Day, highlighting the global spirit of Yoga and its unifying power. He emphasized the participation of millions of people worldwide in Yoga activities, guided by the theme of ‘Vasudhaiva Kutumbakam’ (world is one family).
Government of India has appointed Swaminathan Janakiraman as a Deputy Governor of the Reserve Bank of India (RBI). As per an official notification, Janakiraman’s appointment is for a period of three years starting from the date of joining, or until any further orders are issued. He will be succeeding Mahesh Kumar Jain, whose tenure concludes on June 22nd.
Who is Swaminathan Janakiraman?
Swaminathan Janakiraman currently holds the position of Managing Director at the State Bank of India (SBI), where he oversees the Corporate Banking and Subsidiaries division.
Previously, he was responsible for the bank’s Assurance functions, which included Risk Management, Regulatory Compliance, and Stressed Assets verticals.
According to his LinkedIn profile, Janakiraman is a seasoned banker with expertise in various areas such as Retail and Corporate Banking, International Banking, Trade Finance, Correspondent Banking & FI products, Digital Banking, and Transaction Banking products.
He has played a crucial role in the Finance function of SBI, overseeing budgeting and performance monitoring, Capital Planning, and Investor Relations. Additionally, he has been involved in the bank’s Digital Transformation journey as the Head of the Digital Banking vertical.
Janakiraman has also served as a nominee director of SBI on the boards of Yes Bank, Jio Payments Bank, and NPCI. Furthermore, he has represented SBI as a director in Bank of Bhutan, a joint venture of SBI.
World Music Day, also referred to as Fête de la Musique, is a yearly commemoration held on June 21st that advocates for the influence of music and its universal ability to connect people. The occasion encourages musicians from diverse genres to showcase their talents in public areas, fostering a lively and inclusive ambiance for individuals worldwide to appreciate music. On this unique day, musicians and music enthusiasts from all corners of the globe unite to perform and revel in a wide array of musical genres.
World Music Day 2023 Theme
The theme of World Music Day 2023 is yet to be released, you can acquaint yourself with the theme of the previous year. The theme of World Music Day 2022 was “Music on the intersections.” This theme was about finding and appreciating music at the intersectional level.
World Music Day, also known as Fête de la Musique, is a global celebration that occurs annually on June 21st. It holds great importance as a day devoted to the universal language of music, promoting peace, unity, and cultural diversity, all of which play a vital role in everyone’s lives. Musicians from various genres and backgrounds across the globe come together to share their passion and talent through concerts, street performances, and events. World Music Day encourages the appreciation of diverse musical styles, fostering connections between different cultures and creating a sense of belonging. It symbolizes the transformative power of music to transcend boundaries, unite people, and spread joy, making it a truly remarkable and meaningful observance.
World Music Day History
The origins of World Music Day can be traced back to 1982 when Jack Lang, the French Minister of Culture, proposed the concept of celebrating a day dedicated to music, known as Fête de la Musique or the festival of music. However, there is another theory suggesting that the celebration dates back to 1976 when Joel Cohen proposed an all-night music festival to commemorate the summer solstice. Regardless, the inaugural World Music Day festivities took place in Paris in 1982, featuring over 1,000 musicians performing across various parts of the city. Since then, musicians have taken to the streets, parks, and concert venues to play and share their passion for music on this special occasion.
The idea of observing International Yoga Day was proposed by the Prime Minister of India, Narendra Modi, during his speech at the United Nations General Assembly in September 2014. Recognizing the universal appeal and holistic nature of yoga, Modi suggested that a dedicated day be established to highlight its significance and promote its practice worldwide. Subsequently, on December 11th, 2014, the United Nations General Assembly unanimously declared June 21st as International Yoga Day. The inaugural celebration took place on June 21, 2015.
International Yoga Day, celebrated on June 21st every year, is a global event that promotes the physical, mental, and spiritual benefits of practicing yoga. This day aims to raise awareness about the numerous advantages of incorporating yoga into one’s daily life and to encourage people around the world to embrace this ancient practice.
History of Yoga
History of Yoga
Yoga, originating in ancient India, is an ancient discipline that combines physical postures, breathing exercises, meditation, and ethical principles to promote overall well-being. It offers a holistic approach to health, fostering harmony between the body, mind, and spirit. Through regular practice, individuals can experience improved flexibility, strength, balance, stress reduction, mental clarity, and emotional well-being.
Yoga is an ancient practice that has been passed down through generations, originating in the Indus Valley civilization around 3000 BCE. Its roots can be traced back to the ancient Indian scriptures known as the Vedas, which contain hymns, rituals, and philosophical teachings. The practice of yoga evolved over thousands of years, adapting to different cultures and contexts, and encompassing a wide range of techniques and philosophies.
The word “yoga” itself comes from the Sanskrit word “yuj,” which means to unite or join. It refers to the union of the body, mind, and spirit, and the connection between the individual self and the universal consciousness. Yoga aims to achieve harmony and balance by integrating physical postures (asanas), breath control (pranayama), meditation (dhyana), and ethical principles (yamas and niyamas).
In the ancient texts of the Upanishads and the Bhagavad Gita, yoga is described as a means to attain self-realization and liberation from the cycle of birth and death. It is seen as a spiritual path that leads to enlightenment and the realization of one’s true nature.
One of the earliest systematic presentations of yoga philosophy is found in Patanjali’s Yoga Sutras, composed around the 2nd century BCE. Patanjali outlined the eight limbs of yoga, known as Ashtanga, which provide a comprehensive framework for spiritual growth and self-discipline. These eight limbs include moral and ethical principles (yamas and niyamas), physical postures (asanas), breath control (pranayama), sense withdrawal (pratyahara), concentration (dharana), meditation (dhyana), and samadhi (a state of deep absorption and union with the divine).
Over the centuries, different schools and traditions of yoga emerged, each with its own emphasis and practices. Hatha Yoga, which focuses on physical postures and breath control, gained popularity in the 15th century with the publication of the Hatha Yoga Pradipika. This text provided detailed instructions on asanas, pranayama, and other practices to purify the body and prepare it for meditation.
Modern Yoga
In the late 19th and early 20th centuries, yoga started to gain recognition in the West as Indian gurus and teachers began to travel and spread the teachings of yoga. Swami Vivekananda, Paramahansa Yogananda, and B.K.S. Iyengar were among the influential figures who played a crucial role in introducing yoga to the Western world.
Today, yoga has become a global phenomenon, practiced by millions of people around the world. It is valued not only for its physical benefits but also for its ability to reduce stress, enhance mental clarity, and promote overall well-being. Various styles of yoga, such as Vinyasa, Ashtanga, Kundalini, and Yin Yoga, cater to different preferences and needs.
About International Yoga Day
International Yoga Day serves as an opportunity for individuals, communities, and organizations to come together and celebrate the immense benefits that yoga offers. It aims to raise awareness about the transformative power of yoga and its potential to positively impact people of all ages and backgrounds.
On this day, various events and activities are organized globally, including yoga sessions, workshops, seminars, and cultural performances. Yoga enthusiasts and practitioners gather in parks, public spaces, and community centers to participate in mass yoga sessions, led by experienced instructors. These events provide a platform for individuals to connect, learn, and deepen their understanding of yoga.
The celebration of International Yoga Day extends beyond physical fitness. It also highlights the importance of practicing yoga as a means to foster peace, harmony, and unity among individuals and communities worldwide. Yoga, with its emphasis on compassion, mindfulness, and self-awareness, can contribute to building a more peaceful and inclusive society.
Significance of International Yoga Day
The significance of International Yoga Day lies in its ability to unite people from diverse backgrounds under a common pursuit of health, well-being, and self-discovery. It transcends cultural, religious, and geographical boundaries, promoting harmony and understanding among individuals across the globe.
In conclusion, International Yoga Day is a global celebration that highlights the immense benefits of practicing yoga. It serves as a reminder of the importance of embracing this ancient discipline to enhance physical, mental, and spiritual well-being. By promoting yoga, this day encourages individuals to embark on a journey of self-discovery, inner peace, and holistic health.
The celebration of Yoga Mahotsav 2023 marks the official beginning of the 100-day countdown to International Yoga Day 2023 and to sensitize and motivate the masses to participate in Yoga centric activities to widen the horizons of Yoga.
The three-day Yoga Mahotsav 2023 is being held in the capital’s Talkatora Stadium on 13-14 March and the Morarji Desai National Institute of Yoga (MDNIY) on 15 March.
Prime Minister Modi’s Urge on Yoga Mahotsav 2023:
Prime Minister Narendra Modi urged everyone to participate in the three-day Yoga Mahotsav 2023, an event to commemorate 100 days countdown to International Day of Yoga 2023. Sharing a tweet by the Ministry of Ayush, the PM tweeted; “With a hundred days to go for Yoga Day, urging you all to mark it with enthusiasm. And, if you haven’t made Yoga a part of your lives already, do so at the earliest.”
The organizers of Yoga Mahotsav 2023:
The Ministry of Ayush, along with MDNIY, is organising the ”Yoga Mahotsav”. This year’s International Day of Yoga (IDY) endeavours to connect with the larger global community, as India’s G20 presidency theme “One World, One Health Resonates with the principle of “Vasudhaiva Kutumbakam”.
Along with global outreach, the IDY will focus on taking Yoga to each and every village in India through the active participation of Gram Panchayat/Gram Sabhas.
Union Minister of Ayush and Ports, Shipping & Waterways Sarbananda Sonowal, will inaugurate the Yoga Mahotsav 2023 in the presence of Union Tourism Minister G. Kishan Reddy and other dignitaries.
The Multinational Peacekeeping Joint Exercise “Ex Khaan Quest 2023” has commenced in Mongolia, featuring military contingents and observers from over 20 countries. This 14-day exercise aims to enhance interoperability and train uniformed personnel for United Nations Peacekeeping Operations.
About the Exercise
The exercise was inaugurated by Ukhnaagiin Khurelsukh, the President of Mongolia, in a grand ceremony. This reflects the significance of the exercise and highlights the commitment of Mongolia towards international peacekeeping efforts.
“Ex Khaan Quest 2023” is co-sponsored by the Mongolian Armed Forces (MAF) and the United States Army Pacific Command (USARPAC). This collaboration demonstrates the strong partnership between Mongolia and the United States in promoting regional security and stability.
Representation of the Indian Army
The Indian Army is represented in the exercise by a contingent from the esteemed Garhwal Rifles. By participating, India aims to reinforce its commitment to international peace and further enhance defense cooperation with the countries involved in the exercise.
The primary objective of “Ex Khaan Quest 2023” is to prepare participants for future UN Peacekeeping missions. By conducting Command Post Exercises (CPX), Field Training Exercises (FTX), combat discussions, lectures and demonstrations, the exercise aims to enhance peace operations capabilities and improve military readiness.
The participation of the Indian Army in this multinational joint exercise will not only enhance the defense cooperation between India and the participating countries, but also strengthen ties with the Mongolian Armed Forces, contributing to enhanced bilateral relations between the two nations.
United Nations Peacekeeping Role
The United Nations Charter entrusts the United Nations Security Council with the responsibility to maintain international peace.
UN Peacekeepers establish and maintain safe areas, provide humanitarian assistance, and take necessary measures to safeguard vulnerable populations from violence and human rights abuses.
UN peacekeepers are often known as Blue Berets or Blue Helmets due to their distinct headgear, provide security and political peace-building support to countries transitioning from conflict to peace.
The first peacekeeping mission was initiated in 1948.
During a meeting between Defence Minister Rajnath Singh and Vietnamese General Phan Van Gang, it was revealed that the Vietnam People’s Navy will soon receive the INS Kirpan, a warship from the Khukri class commissioned in 1991. The announcement was made by Rajnath Singh, indicating the intent to transfer the vessel to Vietnam to bolster its naval capabilities.
About the meeting
A meeting was held in New delhi to review progress on various bilateral defence cooperation initatives.It was decided that Khukri class warship INS Kirpan which is scheduled to be decommissioned will be gifted to Vietnam in order to enhance its forces.
Vietnamese defence minister visited DRDO Headquarters and discussed ways to enhance defence industrial capabilities by joint cooperation of both the countries in defence research.
Aim of the meeting
To enhance existing areas of collaboration, especially in the field of defence industry cooperation, maritime security and multinational cooperation.
India and Vietnam have a Comprehensive Strategic Partnership since 2016, and further defence partnerships are a key pillar to enhance the capabilities of their armed forces.
About Vietnam
Vietnam’s capital city is Hanoi, known for its rich history and cultural heritage.
The currency of Vietnam is the Vietnamese dong, which is the official currency used for transactions in the country.