Pakistan Economy | MCQs

Explanation

The main three sectors of economy of Pakistan are agricultural, industrial and services sectors.

Textile is the largest export industry in Pakistan

Agriculture is the largest sector of economy of Pakistan. 

Explanation

Identify the main cause of the adverse balance of payment in Pakistan: heavy government expenses abroad

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An adverse balance of payment is a negative and unfavorable sign for any country

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ND05-12-2022

Explanation

The State Bank of Pakistan (SBP) is responsible for the formulation of monetary policy in Pakistan.

It manages the country's monetary policy to ensure economic stability and control inflation.

Explanation

Jalil Abbas Jilani served in Grade 22 as the Foreign Secretary of Pakistan.

He is former Caretaker Minister of Foreign Affairs,

He served in office from 17 August 2023 till 04 March 2024.

He was born on February 3, 1955, in Multan

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 approached the IMF in 2024 to secure funding aimed at stabilizing its balance of payments, a situation where it didn’t have enough foreign exchange to pay for imports and debt obligations.

The IMF assistance helps rebuild foreign currency reserves, meet external debt servicing needs, and restore investor confidence.

Explanation

The Industrial Development Bank of Pakistan (IDBP) was established in 1961 to promote industrial growth.

It provided financial assistance to small and medium-sized industries in Pakistan.

Industrial Development Bank of Pakistan headquarters: Karachi

Explanation

June 30, 2023, IMF Reaches Staff-level Agreement with Pakistan on a US$3 Billion Stand-By Arrangement to support the authorities' economic stabilization program.

(IMF) approved a 9-month (SBA) for Pakistan for an amount of SDR2,250 million (111 percent of quota) 

Ernesto Ramirez Rigo visited Islamabad, Pakistan from April 29 to May 11, to discuss IMF support for the authorities' economic reform program.

Explanation

 Agriculture constitutes the largest sector of our economy.

The majority of the population, directly or indirectly, is dependent on this sector.

AGM 02.05.2023

Explanation

According to the Economic Survey 2023-24, Pakistan's per capita income increased to $1,680, up from $1,551 the previous year. 

This 8.3% rise was attributed to improved economic activity and a stable exchange rate.