Financial | MCQs

Explanation

پاکستان میں پہلی مرتبہ زکوات کا نظام جنرل ضیاء الحق کے دور حکومت میں 1980 میں ہوا۔

Explanation

The Securities and Exchange Commission of Pakistan (SECP) regulates Pakistan's securities market and corporate sector. Its main responsibilities are:

• Supervising the capital market, including stock exchanges and brokerages.
• Regulating non-banking finance companies (NBFCs) such as leasing firms and mutual funds.
• Enforcing corporate governance and securities regulations for listed companies and public entities.

Explanation

"Her economic situation has got more worse since she gave up her job".

ملازمت چھوڑنے کے بعد سے اس کی معاشی حالت مزید خراب ہو گئی ہے۔

It indicates a greater degree of deterioration in her situation over time.

Explanation

SIFC: Special Investment Facilitation Council

Formation: 17th June, 2023

Founded by: Shahbaz Sharif

Headquarter: Islamabad

Purpose: Economic revival of Pakistan, attract Foreign Direct Investment

Explanation

Liaquat Ali Khan Presented Poor Men’s Budget in 1946.

Following were some of the main features of the Poor Man’s Budget:

Salt Tax was completely abolished for the first time.

The minimum exemption limit for income tax was raised from Rs. 2000/- to Rs. 2500/-

Special income tax of 25% was introduced on businessmen whose annual profit was more than Rs. 100000/-

A graduated tax was introduced on the capital gains exceeding Rs. 5000/-

A commission was proposed to look into the accounts of those who accumulated wealth during the Second World War and to introduce heavy taxes on them.

Explanation

The Anti-Money Laundering Act was passed in 2010.

It was designed to combat money laundering and financial crimes by establishing regulations and procedures for financial institutions.

Explanation

The Financial year /tax year of Pakistan starts from 1 July 

It runs for 12 months, starting on July 1st and ending on June 30th 

Designation: It's often referred to by the calendar year in which it ends

Explanation

The witnesses are required for the financial affairs of transaction 

two male or one male and two female witnesses

This is interpreted by a number of Muslim scholars so as to imply testimony of two women being equal to a single man.

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Explanation

Deficit means خسارہ

Shortfall means کمی

Explanation

The National Finance Commission laid the foundation for the equal distribution of revenues between the federal and four provincial governments of Pakistan

NFC is a series of planned economic programs in Pakistan enacted since 1951.

Constituted under the Article 160 of the Constitution