Economic History | MCQs

Explanation

• Quaid-e-Azam inaugurated the State Bank of Pakistan.

• Founded	1-Jul-1948
  Founded by	M.A Jinnah
  First Governor	Zahid Hussain
  First Female Governor	Shamshad Akhtar
  SBP Responsibitly	implement monetary policy
  HQ	Karachi, Sindh

  
  

Explanation

Pakistan received only 34 out of 921 industrial units in united India.

It included cotton textile, cigarettes, sugar, rice husking, cotton ginning, and flour milling industries.

These industries contributed only 7% of GDP.

It employed just over 26,000 people.

Explanation

 "Kitab ul Khiraj" is a book written by Imam Abu Yousaf

He was likely written in the 9th century

This book on taxation

He was student of imam Abu Hanifa

Explanation

At the time of the partition of British India, Pakistan inherited approximately 3.7% of the industrial enterprises.

Specifically, Pakistan received 34 out of the 921 industrial units present in the subcontinent. 

Explanation

HBL Bank gave a loan to Pakistan for its first budget

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HBL was the first commercial bank to be established in Pakistan in 1947

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HBL moved its operations to Pakistan in 1947 at the request of Muhammad Ali Jinnah, hence becoming the first commercial bank to lay its foundation in the country

Explanation

At the time, the Indian government had about Rs 400 crore in its kitty,

Division of assets finally took place in 4:1 ratio

with the Partition Council allotting the Pakistan Central Bank Rs 75 crore,

which included a working balance of Rs 20 crore made available to the Pakistanis in advance on August 15, 1947.

Explanation

The Indian government's cash balance at the time of the Partition were a little under Rs 400 crore and Pakistan's share was fixed at Rs 75 crore, which was inclusive of Rs 20 crore made available to Pakistan.