#481

The 'Winter Package 2024' announced by the Federal Government offers relief on:

(a) Gas tariffs for heaters

(b) Electricity tariff for incremental consumption

(c) Warm clothing prices

(d) Import of coal

Explanation: To encourage electricity usage in winter (when demand drops) and discourage gas usage, the government offered a reduced tariff rate for any electricity units consumed above the previous year's usage.

#482

Which new agency was notified in 2024 to replace the FIA's Cybercrime Wing for handling digital crimes?

(a) National Cyber Crime Investigation Agency (NCCIA)

(b) Digital Rights Authority

(c) Pakistan Cyber Force

(d) Federal Digital Investigation Bureau

Explanation: The government established the National Cyber Crime Investigation Agency (NCCIA) to take over the mandate of investigating cybercrimes from the Federal Investigation Agency (FIA).

#483

As part of the 2024-2025 reforms, the government terminated the contracts of several 'IPPs'. What does IPP stand for?

(a) International Power Providers

(b) Independent Power Producers

(c) Internal Policy Partners

(d) Integrated Public Projects

Explanation: The government terminated contracts with five Independent Power Producers (IPPs) in late 2024 to reduce 'capacity payments' and lower the overall cost of electricity.

#484

Under the 'Right-Sizing' policy of 2024, the government aims to:

(a) Increase the number of federal ministries

(b) Merge or dissolve unnecessary ministries and departments

(c) Increase the size of the parliament

(d) Expand the cabinet indefinitely

Explanation: The High-Powered Committee on Rightsizing, led by the Finance Minister, recommended abolishing or merging various ministries and departments to cut government expenditure.

#485

Which controversial bill regarding media was passed by the Punjab Assembly in 2024?

(a) Punjab Journalist Protection Act

(b) Punjab Defamation Act 2024

(c) Punjab Media Freedom Bill

(d) Punjab Digital Rights Act

Explanation: The Punjab Defamation Act 2024 was passed to address disinformation on social media, though it faced criticism for potentially curbing freedom of speech.

#486

The 'National Firewall' project installed in 2024 is intended for:

(a) Preventing physical border intrusions

(b) Internet traffic monitoring and filtering

(c) Stopping floods

(d) Protecting nuclear assets

Explanation: The government deployed a national firewall to monitor internet traffic, filter content deemed 'propaganda' or 'fake news', and manage cybersecurity threats.

#487

Which state-owned entity's privatization process faced significant bidding challenges in late 2024?

(a) Pakistan Railways

(b) Pakistan International Airlines (PIA)

(c) PSO

(d) NHA

Explanation: The privatization of PIA hit a snag when the final bidding process attracted lower-than-expected offers, leading to a review of the privatization strategy.

#488

Under the 2024 Finance Act, the government imposed higher tax rates on 'Non-Filers', including blocking their:

(a) Bank accounts

(b) Mobile SIM cards

(c) Passports

(d) All of the above

Explanation: To enforce tax compliance, the government empowered the FBR to block mobile SIMs and utility connections, and restrict foreign travel for non-filers.

#489

The 'Benazir Income Support Programme' (BISP) introduced a new banking model in 2024 to:

(a) Reduce stipend amounts

(b) Directly transfer funds via biometric verification at more bank branches

(c) Give cash through post offices only

(d) Issue cryptocurrency

Explanation: BISP revamped its payment model, hiring multiple banks to expand the number of cash-out points and reduce fraud/deductions by agents.

#490

The 'Practice and Procedure Act Amendment Ordinance 2024' gave the power of constituting SC benches to:

(a) The CJP alone

(b) A committee of the CJP, the next senior judge, and a CJP-nominated judge

(c) The Full Court

(d) The President

Explanation: The amendment changed the committee structure: instead of the three senior-most judges, it now includes the CJP, the next senior judge, and a third judge nominated by the CJP.

#491

Under the new 'Visa Policy' introduced to promote tourism and investment, Pakistan abolished visa fees for citizens of how many countries in 2024?

(a) 50

(b) 126

(c) 10

(d) All countries

Explanation: To boost tourism and investment, Pakistan abolished visa fees for citizens of 126 countries and simplified the online visa process.

#492

The 'Sovereign Wealth Fund' act was amended in 2024 to:

(a) Close the fund

(b) Remove tax exemptions to meet IMF conditions

(c) Invest only in crypto

(d) Sell all assets

Explanation: The government amended the Sovereign Wealth Fund Act to remove certain tax and legal privileges, ensuring it operates on a level playing field as per IMF requirements.

#493

Which sector was declared an 'Industry' by the Punjab government in 2024 to facilitate loans and insurance?

(a) Tourism

(b) Livestock / Agriculture

(c) Education

(d) Media

Explanation: The Punjab government declared livestock and corporate agriculture as an 'industry' to grant them access to industrial loans, insurance, and electricity rates.

#494

The 'School Meal Program' was reintroduced in 2024 in Islamabad and Punjab to:

(a) Sell food to students

(b) Combat stunting and increase enrollment

(c) Train chefs

(d) Reduce teacher salaries

Explanation: The program provides free meals to primary school students to improve nutritional health (stunting) and encourage school attendance.

#495

The 'National Minimum Wage' was raised in the 2024-25 budget to:

(a) Rs. 25,000

(b) Rs. 37,000

(c) Rs. 50,000

(d) Rs. 30,000

Explanation: The federal government increased the minimum wage for unskilled laborers to Rs. 37,000 per month.

#496

What is the total value of the Extended Fund Facility (EFF) approved by the IMF for Pakistan in September 2024?

(a) $3 Billion

(b) $5 Billion

(c) $7 Billion

(d) $9 Billion

Explanation: In September 2024, the IMF Executive Board approved a 37-month Extended Fund Facility (EFF) arrangement for Pakistan worth approximately $7 billion (SDR 5,320 million).

#497

In the Federal Budget 2024-25, the government increased the tax rate on capital gains from securities for non-filers to a maximum of:

(a) 20%

(b) 35%

(c) 45%

(d) 50%

Explanation: The 2024-25 budget significantly tightened the tax net for non-filers, setting the capital gains tax (CGT) on securities for non-filers at normal rates with a maximum slab of 45%.

#498

The Federal Board of Revenue (FBR) set a tax collection target of approximately what amount for the fiscal year 2024-25?

(a) Rs 9.4 Trillion

(b) Rs 11.5 Trillion

(c) Rs 12.97 Trillion

(d) Rs 15.2 Trillion

Explanation: 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.

#499

Which tax was imposed on milk sold by corporate farms or brands in the 2024-25 Budget?

(a) 10% Excise Duty

(b) 18% General Sales Tax (GST)

(c) 5% Withholding Tax

(d) Zero-rated

Explanation: 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.

#500

The 'Tajir Dost Scheme' launched in 2024 aims to bring which group into the tax net?

(a) Freelancers

(b) Retailers and Wholesalers

(c) Real Estate Agents

(d) Software Developers

Explanation: 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.

January 2024 Current Affairs MCQs & Solutions