Economy of Pakistan: 20 Crucial MCQs for NTS, CSS, PMS, KPPSC, PPSC, ETEA, SPSC, BPSC, FPSC Tests

The economy of Pakistan is a vital topic that you can't afford to skip. Whether you're appearing for an NTS, CSS, PMS, KPPSC, PPSC, ETEA, SPSC, BPSC, FPSC test, you will likely face questions about the national budget, major industries, CPEC, and economic surveys.

This section tests your understanding of the country's financial health and development. To help you score well, we've compiled 20 important MCQs on the Pakistani economy, based on frequently asked concepts in past papers.

1. Which sector is the largest contributor to Pakistan's GDP?

• Agriculture
• Industry
• Services
• Manufacturing

Answer: Services

2. The State Bank of Pakistan (SBP) is headquartered in which city?

• Islamabad
• Lahore
• Karachi
• Faisalabad

Answer: Karachi

3. CPEC stands for:

• China-Punjab Economic Cooperation
• China-Pakistan Economic Corridor
• China-Port Economic Channel
• China-Pakistan Energy Corporation

Answer: China-Pakistan Economic Corridor

4. The fiscal year in Pakistan starts on:

• January 1st
• April 1st
• July 1st
• September 1st

Answer: July 1st

5. Which of the following is Pakistan's largest export?

• Rice
• Leather goods
• Surgical instruments
• Textiles

Answer: Textiles

6. The General Sales Tax (GST) in Pakistan is a form of:

• Direct Tax
• Indirect Tax
• Wealth Tax
• Property Tax

Answer: Indirect Tax

7. The Pakistan Stock Exchange (PSX) main office is located in:

• Lahore
• Islamabad
• Sialkot
• Karachi

Answer: Karachi

8. The annual "Economic Survey of Pakistan" is released by which ministry?

• Ministry of Commerce
• Ministry of Planning
• Ministry of Finance
• State Bank of Pakistan

Answer: Ministry of Finance

9. The first five-year development plan of Pakistan covered the period:

• 1950-1955
• 1955-1960
• 1960-1965
• 1948-1953

Answer: 1955-1960

10. "Reko Diq" in Balochistan is famous for its large reserves of:

• Coal and Iron
• Gas and Oil
• Copper and Gold
• Marble and Granite

Answer: Copper and Gold

11. Which organization manages the collection of federal taxes in Pakistan?

• State Bank of Pakistan (SBP)
• Federal Board of Revenue (FBR)
• National Accountability Bureau (NAB)
• Securities and Exchange Commission of Pakistan (SECP)

Answer: Federal Board of Revenue (FBR)

12. The term "NFC Award" is related to:

• National Film Awards
• National Finance Commission
• National Freedom Committee
• National Food Council

Answer: National Finance Commission

13. The main objective of CPEC is to connect Kashgar in China with which Pakistani port?

• Karachi Port
• Port Qasim
• Keti Bandar Port
• Gwadar Port

Answer: Gwadar Port

14. Which industry is the second largest in Pakistan after textiles?

• Cement
• Sugar
• Automobile
• Fertilizer

Answer: Sugar

15. The currency of Pakistan is the:

• Rial
• Dirham
• Rupee
• Taka

Answer: Rupee

16. "Zakat" was deducted from bank accounts for the first time in Pakistan in which year?

• 1977
• 1981
• 1985
• 1990

Answer: 1981 (Under the Zakat and Ushr Ordinance, 1980)

17. The "Saindak Project" in Balochistan is a venture for the extraction of:

• Oil
• Gas
• Copper and Gold
• Coal

Answer: Copper and Gold

18. Which of these is a major Kharif crop in Pakistan?

• Wheat
• Gram
• Cotton
• Barley

Answer: Cotton (Kharif crops are sown in summer).

19. The process of selling state-owned enterprises to the private sector is called:

• Nationalization
• Privatization
• Liberalization
• Globalization

Answer: Privatization

20. Which city in Pakistan is famous for its sports goods industry?

• Lahore
• Karachi
• Gujranwala
• Sialkot

Answer: Sialkot