The Financial Action Task Force (FATF) kept Pakistan on its 'Grey List' from 2018 to 2022 due to deficiencies in anti-money laundering and combating the financing of terrorism (AML/CFT). Exiting the list was a key requirement for economic stability and IMF reviews.
2602
What is the 'Consolidated Global Action Plan' of the World Bank for Pakistan's 2022 flood recovery called?
Following the 2022 floods, the Government of Pakistan, with support from the World Bank, UN, and ADB, developed the 4RF. This framework guided the international community's pledges of over $9 billion during the Geneva Conference in 2023.
2603
Which law governs the operations and independence of the State Bank of Pakistan?
The State Bank of Pakistan Act 1956 is the fundamental law that defines the constitution, objectives, powers, and functions of the SBP. It has been amended several times, most notably in 2022, to strengthen the bank's functional and administrative autonomy.
2604
According to the SBP Act amendments of 2022, the government is prohibited from:
A major reform in the 2022 SBP Act was the prohibition of direct government borrowing from the State Bank (often called 'printing money'). This was intended to curb inflationary financing of the budget deficit and force the government to borrow from commercial markets at market-competitive rates.
2605
What is the primary objective of the State Bank of Pakistan as per the SBP Act amendments of 2022?
Following the 2022 amendments to the SBP Act, the primary objective of the central bank was clearly defined as achieving and maintaining domestic price stability. While the bank also supports the government's economic goals and financial stability, these are secondary to the mandate of controlling inflation.
2606
Which year did Pakistan experience its highest-ever inflation rate, exceeding 35%?
In 2023, Pakistan witnessed record-high inflation, peaking at over 37% in some months. This was driven by a combination of factors including the 2022 floods, the massive devaluation of the rupee, the withdrawal of subsidies under the IMF program, and high global energy prices.
2607
Which year did Pakistan face a major 'Floods' disaster that caused over $30 billion in economic losses?
The 2022 monsoon floods were catastrophic, submerging one-third of the country and affecting 33 million people. The economic losses were estimated at over $30 billion, destroying crops, livestock, and infrastructure, which triggered a major inflation spike and food security crisis.
2608
The 'Citizen Portal' received an award at the World Government Summit in 2019 in which category?
The Pakistan Citizen Portal (PCP) won the 'Best Mobile Government App' award out of 4,600 entries at the World Government Summit held in Dubai in 2019. The award recognized the portal as an innovative tool for enhancing transparency and bringing the government closer to the people.
2609
Who was the 'National Security Advisor' during the formulation of the first public National Security Policy?
Dr. Moeed Yusuf served as the National Security Advisor from 2019 to 2022. He was the primary architect of the new security paradigm that emphasized 'Economic Security' as the foundation of national power, and he led the multi-year process to create a public version of the National Security Policy.
2610
The PTI government's 'Vertical Housing' policy was aimed at:
Prime Minister Imran Khan frequently advocated for 'vertical cities.' The policy encouraged the construction of high-rise buildings in urban centers like Islamabad and Lahore to save fertile agricultural land from being converted into housing societies, thereby ensuring long-term food security.
