The government has not announced the elimination of petroleum levies; rather, it noted that these levies remain low. The other options are explicitly mentioned as goals or ongoing initiatives of the current administration. [Source: https://www.dawn.com/news/2016227/govt-to-fix-fuel-prices-daily-due-to-renewed-hostilities-in-persian-gulf-petroleum-minister, 17 Jul 2026]
352
What tax rate has been set for traders under the newly introduced Tax Asaan Scheme?
The Finance Minister confirmed that the tax rate for traders was kept at 1 percent to encourage initial participation in the tax net. Higher rates would likely discourage the intended expansion of the tax base. [Source: https://www.dawn.com/news/2008354/aurangzeb-terms-tax-asaan-scheme-for-traders-a-paradigm-shift, 16 Jun 2026]
353
Which regulatory body has been tasked with determining fuel prices on a daily basis as of July 17, 2026?
The Petroleum Minister announced that the Oil and Gas Regulatory Authority (OGRA) is now responsible for daily fuel price adjustments based on international market trends. Other regulatory bodies like NEPRA deal with electricity, not petroleum pricing. [Source: https://www.dawn.com/news/2016227/govt-to-fix-fuel-prices-daily-due-to-renewed-hostilities-in-persian-gulf-petroleum-minister, 17 Jul 2026]
354
In which specific industrial sector did the government first implement its digital product monitoring system?
The digital product monitoring system was initiated in the sugar sector as a pilot project for broader enforcement. Other sectors like beverages and textiles are subsequent targets for this system. [Source: https://www.dawn.com/news/2008354/aurangzeb-terms-tax-asaan-scheme-for-traders-a-paradigm-shift, 16 Jun 2026]
355
The government's new energy pricing strategy is based on a rolling average of international market prices over what duration?
The Petroleum Minister stated that the daily price announcements would be calculated based on a seven-day weekly average of international market prices. This ensures that domestic prices reflect recent global trends while smoothing out extreme daily volatility. [Source: https://www.dawn.com/news/2016227/govt-to-fix-fuel-prices-daily-due-to-renewed-hostilities-in-persian-gulf-petroleum-minister, 17 Jul 2026]
356
Consider the following statements about the energy policy changes announced on July 17, 2026:
1. The government intends to maintain strategic petroleum reserves to enhance energy security.
2. The new pricing mechanism requires ministerial approval for every daily adjustment.
3. The government is consulting with international experts to assess the feasibility of energy storage initiatives.
Which of the statements given above is/are correct?
Statement 2 is incorrect because the minister explicitly stated that prices would be adjusted without requiring approval from him or other ministers, as part of the deregulation effort. Statements 1 and 3 are correct as they reflect the government's stated intent to study and build strategic reserves with international consultants. [Source: https://www.dawn.com/news/2016227/govt-to-fix-fuel-prices-daily-due-to-renewed-hostilities-in-persian-gulf-petroleum-minister, 17 Jul 2026]
357
Consider the following statements about the Punjab budget for the fiscal year 2026-27:
1. The budget includes the imposition of new taxes to cover the fiscal deficit.
2. The proposed allocation for education is 15 percent higher than the previous fiscal year.
3. The government has allocated funds for the construction of police stations in riverine areas.
Which of the statements given above is/are correct?
Statement 1 is incorrect because the Chief Minister explicitly stated that the budget was prepared without imposing any new taxes. Statements 2 and 3 are factually accurate according to the budget speech. [Source: https://www.dawn.com/news/2008300/punjab-finance-minister-presents-people-friendly-budget-in-assembly, 16 Jun 2026]
358
Which specific initiative in the 2026-27 Punjab budget includes the establishment of Neuro Cath Labs?
The government set aside Rs1.75 billion for Neuro Cath Labs under the Stroke Initiative. The Nawaz Sharif Medical District is a separate health infrastructure project. [Source: https://www.dawn.com/news/2008300/punjab-finance-minister-presents-people-friendly-budget-in-assembly, 16 Jun 2026]
359
What is the primary objective of the Central Processing Unit mentioned in the Tax Asaan Scheme?
The Central Processing Unit is designed to automate tax monitoring and reduce the discretionary authority of tax officials. is incorrect as the scheme aims to limit, not increase, such powers. [Source: https://www.dawn.com/news/2008354/aurangzeb-terms-tax-asaan-scheme-for-traders-a-paradigm-shift, 16 Jun 2026]
360
What is the proposed percentage increase in the salaries of government employees in the 2026-27 Punjab budget?
The budget proposes a 7 percent increase in salaries for government employees. The 3.5 percent figure refers to the increase in pensions for retired employees. [Source: https://www.dawn.com/news/2008300/punjab-finance-minister-presents-people-friendly-budget-in-assembly, 16 Jun 2026]
