#1361

Which international financial institution approved a $7 billion Extended Fund Facility (EFF) for Pakistan in September 2024?

(a) World Bank

(b) Asian Development Bank

(c) International Monetary Fund (IMF)

(d) Islamic Development Bank

Explanation: In September 2024, the IMF Executive Board approved a 37-month Extended Fund Facility (EFF) for Pakistan worth approximately $7 billion. This program was intended to support Pakistan's efforts to achieve macroeconomic stability, improve tax collection, and implement structural reforms in the energy sector following a period of high inflation and low foreign exchange reserves.

#1362

In 2024, Pakistan focused on 'Digitalization' of which government department to increase revenue?

(a) Federal Board of Revenue (FBR)

(b) Ministry of Defense

(c) Postal Services

(d) Radio Pakistan

Explanation: The digitalization and restructuring of the FBR became a core priority in 2024. The goal was to use technology to document the informal economy, reduce human interaction to curb corruption, and broaden the tax base to meet the revenue targets set under the IMF program.

#1363

Which policy was introduced in 2024 to curb the 'Grey Market' of mobile phones and increase revenue?

(a) DIRBS (Device Identification, Registration and Blocking System)

(b) CPEC Phase II

(c) The 5G Auction

(d) Import ban on all electronics

Explanation: While DIRBS was introduced earlier, its strict implementation and integration with tax systems were ramped up in 2024. The system ensures that only duty-paid, legal mobile devices can function on local networks, which has significantly increased tax collection on mobile imports and supported the local assembly industry.

#1364

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). This program focuses on macroeconomic stability, structural reforms in the energy sector, and broadening the tax base.

#1365

The 9-month Stand-By Arrangement (SBA) approved in July 2023 was worth how much?

(a) $1 Billion

(b) $3 Billion

(c) $6 Billion

(d) $10 Billion

Explanation: Following the expiration of a previous EFF, Pakistan signed a $3 billion SBA in July 2023. This short-term program was crucial for preventing a default and provided a bridge until the 2024 general elections and the subsequent long-term EFF.

#1366

According to the Pakistan Economic Survey 2024-25, what is the total share of the agriculture sector in Pakistan's GDP?

(a) 18.9%

(b) 21.2%

(c) 23.54%

(d) 25.1%

Explanation: The agriculture sector remains a vital component of Pakistan's economy. According to the Pakistan Economic Survey 2024-25, the sector's share in the national GDP was recorded at 23.54 percent, showing its significance as a primary driver of the economy despite climatic challenges.

#1367

What was the recorded growth rate of Pakistan's agriculture sector during the fiscal year 2024-25?

(a) 0.56%

(b) 1.55%

(c) 2.38%

(d) 4.22%

Explanation: In FY 2024-25, the agriculture sector in Pakistan grew by 0.56 percent. This modest growth was primarily driven by the livestock, forestry, and fisheries sub-sectors, which managed to offset declines observed in major crop yields.

#1368

Which sub-sector of agriculture contributed the most to the overall agricultural value added in FY 2024-25?

(a) Crops

(b) Livestock

(c) Fisheries

(d) Forestry

Explanation: Livestock is the largest sub-sector of agriculture in Pakistan, contributing approximately 63.60 percent to the agricultural value added and 14.97 percent to the national GDP in FY 2024-25. It has proven to be a resilient component of the rural economy.

#1369

What was the total production of wheat in Pakistan for the fiscal year 2024-25?

(a) 26.21 Million Tonnes

(b) 28.98 Million Tonnes

(c) 30.12 Million Tonnes

(d) 32.50 Million Tonnes

Explanation: Wheat production in Pakistan for FY 2024-25 was recorded at 28.98 million tonnes. Although a significant volume, it represented a decline compared to the previous year due to reduced cultivation area and unfavorable weather during the harvest cycle.

#1370

Which major crop experienced the sharpest decline in production during FY 2024-25?

(a) Rice

(b) Sugarcane

(c) Cotton

(d) Maize

Explanation: Cotton production suffered the most significant setback in FY 2024-25, declining by over 30 percent. The total production reached only 7.08 million bales, down from 10.22 million bales the previous year, primarily due to pest infestations and water issues.

#1371

Which sub-sector of agriculture recorded a growth of 1.42% in FY 2024-25?

(a) Forestry

(b) Fisheries

(c) Livestock

(d) Sugar industry

Explanation: The fisheries sector showed a steady growth of 1.42 percent in FY 2024-25. While it accounts for a small part of the GDP, it is a critical source of protein and provides livelihoods for coastal and inland fishing communities.

#1372

Approximately how many million bales of cotton were produced in Pakistan in FY 2024-25?

(a) 5.50 Million Bales

(b) 7.08 Million Bales

(c) 10.22 Million Bales

(d) 12.00 Million Bales

Explanation: Cotton production for FY 2024-25 reached 7.08 million bales. This was a sharp decline from the previous year's 10.22 million bales, attributed to high input costs and significant pest damage in the main growing areas.

#1373

Which of the following 'Other Crops' showed an 11.5% growth in production in FY 2024-25?

(a) Tobacco

(b) Potato

(c) Sunflower

(d) Canola

Explanation: Potato production grew significantly by 11.5 percent in FY 2024-25. It has become an essential cash crop for farmers in central Punjab, helping to diversify the crop sector away from traditional staples.

#1374

Which sub-sector of 'Other Crops' grew by 4.78% in FY 2024-25, helping the overall agricultural growth?

(a) Major Crops

(b) Minor Crops

(c) Industrial Crops

(d) Fiber Crops

Explanation: Minor crops (or 'Other Crops') like vegetables, pulses, and fruits grew by 4.78 percent. This growth was vital in supporting the sector while major crops like cotton and wheat faced production challenges.

#1375

What is the approximate share of the services sector in Pakistan's total GDP as of the fiscal year 2024-25?

(a) 45.5%

(b) 52.1%

(c) 58.3%

(d) 62.5%

Explanation: The services sector continues to be the largest contributor to Pakistan's economy. According to the Pakistan Economic Survey 2024-25, its share in the national GDP is approximately 58.3 percent, reflecting the structural shift of the economy from agriculture toward services over the past few decades.

#1376

What was the recorded growth rate of the Information and Communication sub-sector in Pakistan during FY 2024-25?

(a) 2.1%

(b) 4.5%

(c) 6.8%

(d) 8.4%

Explanation: The Information and Communication sub-sector has shown resilient growth, recording 6.8 percent in FY 2024-25. This growth is driven by increasing internet penetration, digital transformation across industries, and the rising global demand for Pakistani IT services.

#1377

In the fiscal year 2024-25, Pakistan's IT and IT-enabled services (ITeS) exports reached approximately how much?

(a) $1.5 Billion

(b) $2.2 Billion

(c) $3.2 Billion

(d) $4.5 Billion

Explanation: Pakistan's IT exports have surged in recent years, reaching a milestone of over $3.2 billion in FY 2024-25. The government has focused on promoting the IT industry through tax incentives and the development of Special Technology Zones (STZs) to boost foreign exchange earnings.

#1378

As of 2024, approximately how many mobile phone subscribers are there in Pakistan?

(a) 150 Million

(b) 175 Million

(c) 194 Million

(d) 210 Million

Explanation: According to PTA data for 2024-25, mobile phone subscriptions in Pakistan have exceeded 194 million. This high penetration rate is fundamental to the growth of mobile banking, e-commerce, and digital government services.

#1379

Which service sub-sector showed a decline in growth during the pandemic but rebounded strongly in FY 2024-25?

(a) Information Technology

(b) Hospitality and Tourism

(c) Public Administration

(d) Education

Explanation: The Hospitality and Tourism sector was severely impacted by travel restrictions during the pandemic. However, it has seen a robust recovery in FY 2024-25, driven by a surge in domestic tourism and the reopening of international trekking and religious tourism circuits.

#1380

Which major financial institution did Quaid-e-Azam inaugurate on July 1, 1948?

(a) National Bank of Pakistan

(b) State Bank of Pakistan

(c) Habib Bank Limited

(d) Agricultural Development Bank

Explanation: Quaid-e-Azam inaugurated the State Bank of Pakistan on July 1, 1948. This was one of his last major public appearances. In his speech, he emphasized that the bank would symbolize the country's financial sovereignty and tasked it with developing an economic system based on Islamic concepts of social justice and equality.

July 2024 Current Affairs MCQs & Solutions