Economic Growth | MCQs

Explanation

Pakistan Steel Mill in Karachi was founded on July 2, 1973.

PM Zulfikar Ali Bhutto laid the foundation stone of Pakistan Steel Mills on December 30, 1973, with the support of the Soviet Union (Russia).

An agreement for techno-financial assistance was made between Pakistan and the Soviet Union in 1971.

It is the country's largest industrial undertaking.

It has a production capacity of 1.1 million tons of steel.

It expandable up to 3.0 million tons per annum.

Explanation

• Know everything about BRICS: 
• BRICS founded: June 2009
  
• BRICS Member countries: Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates
  
• BRICS total members: 10 
• South Africa joined BRICS: 2010
• BRICS headquarters: Shanghai, China
• BRICS first conference hosted by: Russia (2009) 

Explanation

Lahore is the largest city in Punjab.

It serves as the province's economic, cultural, and industrial hub.

Explanation

At the time of partition in 1947, only 34 out of 921 industries came under the jurisdiction of Pakistan.

These industries were part of the assets and resources inherited by Pakistan from the British Raj after independence.

Explanation

Primary Goal of CPEC:

A flagship project of China’s Belt and Road Initiative (BRI), CPEC focuses on infrastructure and energy development in Pakistan.

Key projects include highways (e.g., Karakoram Highway), ports (Gwadar), and power plants (coal, solar, hydro).

Explanation

Explanation

Exports generate revenue for a country by selling goods and services to other nations.

They contribute to economic growth, trade balance, and foreign exchange reserves.

Explanation

•  3.94 is the GDP ratio in Pakistan during 2020-21
• ****
  Minister for Finance Shaukat Tarin said that Pakistan’s GDP growth stood at 3.94 percent against the envisaged target of 2.1 percent,
• remittances made a historic record, and exports would be touching $25 billion in the outgoing fiscal year.
• **
• Agricultural GDP of Pakistan in 2019: 22.4%
• According to the Economic Survey of Pakistan 2021-22, only 1.77 % of GDP was spent on the education sector in FY2021.
• ***
  
• Japan had a record-high Defence budget, more than a ceiling of 1% of its GDP in April 2021
• According to GDP per capita report 2021 poorest country in the world is Burundi

Explanation

The International Monetary Fund (IMF) supports global economic growth and financial stability by providing financial assistance and policy advice to member countries.

The International Monetary Fund (IMF) is a major financial agency of the United Nations and an international financial institution.

IMF founded: 27 December 1945

IMF headquarters: Washington, USA

IMF total members: 190

IMF official language: English

Explanation

Agriculture is the art and science of cultivating the soil, growing crops and raising livestock.