Pakistan Studies/Affairs MCQs
Topic Notes: Pakistan Studies/Affairs
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
11
The 'Budget Deficit' is primarily financed through:
Answer:
Domestic and foreign borrowing
When a government runs a deficit, it must fill the gap by borrowing. Domestic sources include selling treasury bills to banks, while foreign sources include loans from the IMF, World Bank, or other countries.
12
Which body oversees the 'Benazir Income Support Programme' (BISP) which is a major part of social safety net spending in the budget?
Answer:
BISP Board / Poverty Alleviation and Social Safety Division
BISP is Pakistan's largest social safety net program, providing unconditional cash transfers to the poorest families. Funding for BISP is a significant item in the federal budget under social protection.
13
What is 'Regressive Taxation'?
Answer:
A tax system where the tax rate decreases as the amount subject to taxation increases
Indirect taxes like Sales Tax are often regressive because a low-income person and a high-income person pay the same amount of tax on the same product, which represents a larger percentage of the low-income person's total wealth.
14
The 'Finance Act' is the final version of the:
Answer:
Finance Bill after it is passed by the Assembly and signed by the President
Once the National Assembly approves the Finance Bill and the President gives his assent, it becomes an 'Act of Parliament,' providing the legal basis for the government to collect taxes for that year.
15
Which tax in Pakistan is levied on the movement of goods across international borders?
Answer:
Customs Duty
Customs duties are taxes imposed on goods when they are transported across international borders. They are used both as a source of revenue and as a tool to protect domestic industries from foreign competition.
16
The 'National Finance Commission' recommendations are valid for how many years usually?
Answer:
Five years
The NFC is supposed to be constituted every five years. If a new award is not agreed upon within that time, the previous award remains in force, as has been the case with the 7th NFC Award which has been extended multiple times.
17
What is 'Fiscal Decentralization'?
Answer:
The transfer of financial responsibilities and resources from the center to lower levels of government
Fiscal decentralization in Pakistan was greatly accelerated by the 18th Amendment and the 7th NFC Award, which transferred a larger share of financial resources and service-delivery responsibilities (like health and education) to the provinces.
18
The 'Public Accounts Committee' (PAC) consists of members from:
Answer:
The Parliament (National Assembly/Senate)
The PAC is a powerful parliamentary committee that examines the Auditor General's reports. Its role is to ensure that the money spent by the government was used for the purposes for which it was granted by the Assembly.
19
Which entity is responsible for auditing the accounts of the Federal and Provincial governments?
Answer:
Auditor General of Pakistan (AGP)
The AGP is a constitutional body responsible for ensuring transparency and accountability in the use of public funds. The Auditor General submits reports to the President or Governors, who then lay them before the respective assemblies.
20
What is the 'Consolidated Fund'?
Answer:
The main account where all government revenues are deposited and all expenditures are withdrawn
Under Article 78 of the Constitution, all revenues received by the Federal Government, all loans raised, and all moneys received in repayment of any loan form the 'Federal Consolidated Fund'.