Financial | MCQs

Explanation

Explanation

Ghulam Muhammad, a Punjabi, had been Jinnah's choice

He served as Pakistan's first finance minister 15 August 1947 – 19 October 1951

Prime Minister: Liaquat Ali Khan, Sir K. Nazimuddin

Deputy: Muhammad Ali (1947–1948), Sir Victor Turner (1948–1951)

Succeeded by: Muhammad Ali

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He served as the third Governor-General of Pakistan,

Born: 29 August 1895, Lahore

Died: 29 August 1956 (aged 61), Lahore

Resting place: Fauji Qabrastan Karachi

Explanation

The Financial year /tax year of Pakistan is starting from 1 July through 30 June.

Explanation

The correct phrase is "to lay by something for a rainy day."

It means to save or set aside resources for future use.

It especially in times of need or difficulty.

Explanation

Insolvent means دیوالیہ

Bankrupt means دیوالیہ

Explanation

Pakistan needs 12 votes out of 39 to exit the 'grey' list and move to the 'white' list.

To avoid 'black' list, it needs support of three countries.

China, Turkey and Malaysia are its consistent supporters.

Explanation

Pakistan’s first coin was issued on 3rd January 1948

The First Postal Stamp of Pakistan was issued on 9th July 1948.

Pakistan’s first currency note was issued on March 1, 1949.

ND26-4-2023

Explanation

• Insolvent: One who is unable to pay his debts.
• Insolvent (Adjective): ایسا شخص جو اپنا قرض ادا نہ کر سکے۔

Explanation

On June 2018 FATF added Pakistan to its gray list

Pakistan needs 12 votes out of 39 to exit the “grey" list and move up to join countries that do not require monitoring. 

Pakistan has been removed from the list after four years n 21 October 2022

 on Thursday FATF decided to retain Pakistan on its ‘Grey List’ till June 2021

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while 

On 24 February 2023, FATF added South Africa and Nigeria to its gray list

On 24 February 2023, FATF removed Cambodia and Morocco from its gray list

Explanation

In June 2023, the IMF approved a $3 billion loan to Pakistan under a 9-month Stand-By Arrangement (SBA).

This loan aimed to stabilize Pakistan's economy, support its financial reforms, and help manage external debt obligations.