Economic Growth | MCQs

Explanation

Pakistan's second five-year plan was first discussed in a Bank report entitled Economic Development in Pakistan dated August 17, 1960. 

Additional information 

• First Five-Year Plan (1950-1955): Presented by Prime Minister Liaquat Ali Khan on July 8, 1948.
• Second Five-Year Plan (1960-1965): Revived and restated by President Ayub Khan's military government.
• Third Five-Year Plan (1965-1970): Designed like its predecessor, resulting in only modest growth.
• Fourth Five-Year Plan (1970-1975): Abandoned after the fall of Dhaka and replaced with a nationalization program.
• Fifth Five-Year Plan (1978-1983): Aimed to stabilize the economy and improve living standards for the poorest segment of the population.

Explanation

Prime Minister Shehbaz Sharif launched the ‘Uraan Pakistan, Homegrown National Economic Plan’ outlining the National Economic Transformation Plan for 2024-29.

Launched on 31 December 2024.

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Explanation

In Pakistan, manufacturing sector contributes 12.79 percent to Gross Domestic Product (GDP) and the sector employs 16.1 percent of the country's labor force.

Explanation

Explanation

"Small and Medium Enterprises Development Authority (SMEDA) is an autonomous institution of the Government of Pakistan under Ministry of Industries and Production

Explanation

We generally use about with concerned.

About is a preposition here.

Concerned about something means کسی کے بارے میں فکرمند ہونا

He is very concerned about the economy. 

Explanation

The Fifth Five-Year Plan (1978–83) was an attempt to stabilise the economy and improve the standard of living of the poorest segment of the population.

Increased defense expenditures and a flood of refugees to Pakistan after the Soviet invasion of Afghanistan in December 1979, as well as the sharp increase in international oil prices in 1979-80, drew resources away from planned investments .

Explanation

Prime Minister Shehbaz Sharif on 31 October 2022 announced a special package of Rs 1,800 billion to promote the agriculture sector. 

Explanation

Explanation

 Pakistan is the second-highest economic growth recorded in the last three years of the incumbent government. As a result of the rebasing exercise, the growth rate improved from the earlier estimate of 3.94pc to 5.4pc, while the size of the economy rose to $346.76 billion from the provisional estimate of $296 billion, according to the National Accounts Committee, which approved these figures on January 20, 2022.