Industrial Development | MCQs

Explanation

Pakistan Steel Mill Karachi was founded with the support of Russia.

In 1971, Pakistan and the Soviet Union government agreement agreed

To provide techno-financial assistance for the construction of a steel Mill in karachi

Explanation

 The cottage industry means the industry which manufactures things in the home 

A cottage industry is a small-scale,

ND 30-03-2923

Explanation

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

The main three sectors of economy of Pakistan are agricultural, industrial and services sectors.

Textile is the largest export industry in Pakistan

Agriculture is the largest sector of economy of Pakistan. 

Explanation

The Industrial Development Bank of Pakistan (IDBP) was established in 1961 to promote industrial growth.

It provided financial assistance to small and medium-sized industries in Pakistan.

Industrial Development Bank of Pakistan headquarters: Karachi

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

Karachi Steel Mill was established on the 2nd of July, 1968, and the government decided to sponsor a state-owned Karachi steel mill.

It was a separate corporation according to the Act of 1913.

while

The Pakistan Steel Mills Corporation colloquially referred to as Pak Steels

Predecessor: Karachi Steel Projects

Founded: 30 December 1973 (49 years ago)

Headquarters: Karachi

It was founded on 2nd July 1973 by Zulfiqar Ali Bhutto.

The completion of the Steel Mill was launched by General Zia Ul Haq on 15 January 1985.

Steel Mill was established with the support of Russia.

Explanation

PIDC stands for Pakistan Industrial Development Corporation

PIDC is a state corporation of Pakistan working under the Ministry of Industries and Production.

It was established in 1952. 

PIDC's Subsidiary: Pakistan Gems and Jewellery Development Company

Explanation

Raw materials are essential as they provide the basic inputs needed for industries to manufacture goods.

Availability of raw materials reduces production costs and supports sustained industrial growth.