General Knowledge MCQs
Topic Notes: General Knowledge
MCQs and preparation resources for competitive exams, covering important concepts, past papers, and detailed explanations.
Plato
- Biography: Ancient Greek philosopher (427–347 BCE), student of Socrates and teacher of Aristotle, founder of the Academy in Athens.
- Important Ideas:
- Theory of Forms
- Philosopher-King
- Ideal State
3141
The 'Sovereign Wealth Fund' Act was amended in 2024 to primarily:
Answer:
Remove tax exemptions and special privileges
To meet IMF governance conditions, the Sovereign Wealth Fund Act was amended to remove tax exemptions and privileges, ensuring state-owned enterprises in the fund compete on a level playing field.
3142
The projected inflation rate (average consumer prices) for Pakistan in 2025 is approximately:
Answer:
4.5%
Following strict monetary tightening, inflation was projected to decline significantly, averaging around 4.5% for the year 2025 according to major economic outlooks.
3143
Under the new IMF program conditions, provincial governments are required to legislate to tax which type of income?
Answer:
Agricultural Income
A key structural benchmark of the new IMF program is for provinces to legislate and enforce a tax on agricultural income, aligning its rates with the federal personal income tax regime.
3144
What is the duration of the current IMF Extended Fund Facility (EFF) program for Pakistan?
Answer:
37 Months
The EFF program approved in September 2024 has a duration of 37 months, intended to provide medium-term stability and structural reforms.
3145
The Petroleum Development Levy (PDL) target for FY 2024-25 was set at:
Answer:
Rs 1.3 Trillion
The government targeted Rs 1.3 trillion in collection from the Petroleum Development Levy (PDL), utilizing the increased levy rates on petrol and diesel.
3146
Which sector was identified for 'Right-Sizing' and privatization to reduce fiscal losses in 2024-25?
Answer:
Power Distribution Companies (DISCOs)
The government initiated a policy to 'provincialize' or privatize Power Distribution Companies (DISCOs) to curb massive circular debt and operational losses.
3147
In the 2024-25 budget, the tax rate on dividend income for mutual funds earning more than 50% from debt was increased to:
Answer:
25%
To discourage arbitrage, the tax rate on dividends from mutual funds that derive 50% or more of their income from profit-on-debt was raised from 15% to 25%.
3148
The 'Tajir Dost Scheme' launched in 2024 aims to bring which group into the tax net?
Answer:
Retailers and Wholesalers
The Tajir Dost Scheme is a specific initiative by the FBR aimed at registering retailers and wholesalers to broaden the tax base and formalize the retail sector.
3149
Which tax was imposed on milk sold by corporate farms or brands in the 2024-25 Budget?
Answer:
18% General Sales Tax (GST)
The 2024-25 budget removed the zero-rating status for packaged milk sold by corporate farms and brands, subjecting it to an 18% General Sales Tax.
3150
The Federal Board of Revenue (FBR) set a tax collection target of approximately what amount for the fiscal year 2024-25?
Answer:
Rs 12.97 Trillion
The government set an ambitious tax revenue target of Rs 12.97 trillion for FY 2024-25, aiming for a roughly 40% increase over the previous year's collection.