Explanation

• The primary reason for the global GDP reduction from 2020 to 2022 was the COVID-19 pandemic
• A drop in GDP growth to 0.3% in 2022-23
• World GDP fell by approximately 3.4% in 2020.

Last updated question NS on 09 MAY 2026

Explanation

• In Pakistan, the largest share of tax revenue comes from indirect taxes.
• The main contributor is Sales Tax, collected on goods and services.
• It is administered mainly by the Federal Board of Revenue (FBR).

Last verified on 01-05-2026

Explanation

• Special Economic Zones (SEZs) help diversify Pakistan’s export base.
• SEZs promote industrial growth and manufacturing.
• They attract local and foreign investment.
• This increases production of different export goods.
• As a result, Pakistan’s export basket becomes more diverse.

Last verified on 29-04-2026

Explanation

• Major organizations providing financial assistance to Pakistan are the IMF
• Pakistan officially became a member of the IMF on July 11, 1950.
• IMF stands for International Monetary Fund.

Last updated by NA on 23-April-2026

Explanation

• Pakistan’s Five-Year Plans are prepared to guide national economic development.
• The main institution responsible is the Planning Commission of Pakistan.
• It sets development goals for industries, agriculture, and infrastructure.
• First Five-Year Plan – 1955–1960

Last verified on 10-04-2026

Explanation

• When a country sells its surplus goods to other countries (foreign), it is called export.
• Cotton cloth is a common export product in many countries.

Additional information:

• Import – Buying goods from foreign countries into home country
• Domestic trade – Trade within the same country
• Pakistan’s major exports: textiles, rice, sports goods, leather

Last verified on 10-04-2026

Explanation

• The damage of the flooding was ₨3.91 trillion (US$14.9 billion)
• The economic loss was ₨3.99 trillion (US$15.2 billion).
• World Bank. led a $1.5 billion aid package for Pakistan’s flood relief efforts

Explanation

• Decimal Coinage in Pakistan: Introduced on 1 January 1961 to simplify currency calculations.
• Based on the Rupee, divided into 100 paisas.
• 1961: 1, 5, 10 paisa coins issued
• 1963: 25 and 50 paisa coins issued
• First coins ever: 1948

Last verified on 03-04-2026

Explanation

• Rs. 5000: Faisal Mosque
• Rs. 10: Khyber Pass
• Rs. 100: Quaid-e-Azam Residency
• Rs. 500: Badshahi Mosque
• Rs. 1000: Islamia College Peshawar

Additional information:

• Pakistani currency notes feature important national landmarks on the back side.
• The State Bank of Pakistan issued first banknotes on 1 October 1948.
• Printed by: Thomas De La Rue & Company (UK)

Last verified on 01-04-2026

Explanation

• Pakistan’s economy largely depends on the textile sector, which is based on cotton production.
• Cotton and cotton manufactured products are the largest share of Pakistan’s exports.
• The textile industry includes yarn, cloth, garments, and towels exported worldwide.
• Major export markets include USA, China, UK, Germany, and UAE.

Last verified on 08-03-2026