ECO | MCQs

Explanation

After becoming Civilian Martial Law Administrator in December 20, 1971 (and later Prime Minister in 1973), Zulfikar Ali Bhutto faced the immediate crisis of:

1971 War Aftermath: Over 90,000 Pakistani soldiers and civilians were held as POWs by India after the surrender in East Pakistan (now Bangladesh).

Simla Agreement (1972): Bhutto negotiated with India’s Indira Gandhi to secure their release, linking it to broader peace terms.

Explanation

Z.A. Bhutto started the Nationalization of Banks in Pakistan in 1974.

Banks (Nationalization) Act, 1974

This act was passed by Parliament on January 23, 1974.

It nationalized 14 banks and put them under the direct control of the Government of Pakistan.

Explanation

On 3 July 2019, International Monetary Fund (IMF) approved a three-year, $6 billion loan "to support Pakistan’s economic plan.

On July 3, 2019, IMF approved a 39-month extended arrangement under the EFF for Pakistan 

ND12_8_2023

Explanation

CPEC (China-Pakistan Economic Corridor) is a major component of China's Belt and Road Initiative (BRI),

Explanation

Explanation

Chinese Vice Premier He Lifeng is visiting Pakistan from July 30 to August 1, 2023

He Lifeng will attend a ceremony celebrating a decade of CPEC as the chief guest.

China and Pakistan signed six agreements for the promotion of bilateral cooperation.

He Lifeng to be chief guest at ‘Decade of CPEC’ event

Explanation

in 2019 Agriculture contributed around 22.4% to the GDP OF PAKISTAN, 18.34% came from industry, and over half of economies contribution of GDP  came from the services sector.

Explanation

In fiscal year 2024 (FY24), Pakistan received approximately USD 1.9 billion in foreign direct investment (FDI), marking a 17% year-on-year increase from FY23.

China was the largest investor, contributing around USD 568 million—about 30% of the total FDI—followed by Hong Kong (USD 359 m) and the UK (USD 268 m).

Explanation

Inflation Defined:

Inflation is the sustained increase in general price levels, reducing purchasing power.

Impact on Pakistan:

Rising Costs: Essential goods (food, fuel) become more expensive, straining households.

Economic Strain: Businesses face higher input costs, leading to slower growth and unemployment.

Currency Depreciation: High inflation often weakens the rupee, worsening imports.

Explanation

پاکستان میں معدنی دولت سے مکمل فائدہ نہ اٹھانے کی کئی وجوہات ہیں جیسے بار بار حکومت کی تبدیلی، سرمائے اور ماہریں کی کمی، اور حکومت کی غلط پالیسی۔

ان تمام وجوہات کی بنا پر پاکستان اپنی معدنی دولت سے بھرپور استفادہ نہیں کر سکا۔