Explanation

• GSP Plus (Generalised Scheme of Preferences Plus) gives Pakistan duty-free access to the European Union market.
• Pakistan received GSP Plus status in 2014.
• The textile and garments sector gained the maximum export benefit.

Additional information:

• Over 70% of Pakistan’s exports to the EU are from the textile sector.
• GSP Plus requires compliance with 27 international conventions on human rights, labor laws, environment, and governance.

Last Updated on 13-01-2026

Explanation

China is Pakistan’s largest trade partner.

Trade between Pakistan and China increased significantly after CPEC (2015).

Both countries signed a Free Trade Agreement (FTA) in 2006.

This partnership plays a key role in Pakistan’s economy and infrastructure development.

Explanation

The Pakistan-India-Iran gas pipeline project was mainly failed due to economic and political pressure from the USA.

The project was officially cancelled around 2016.

Explanation

Agricultural extension plays a crucial role in boosting agricultural productivity, increasing food security, improving rural livelihoods, and promoting agriculture as an engine of pro-poor economic growth.

Explanation

Agriculture is the backbone of Pakistan’s economy.

It contributes significantly to GDP, provides employment to a large part of the population, and supports industries like textiles and food processing.

Key crops include wheat, rice, cotton, and sugarcane.

Explanation

Pakistan's official response to the increased U.S. tariffs was not to impose retaliatory tariffs but rather to engage in diplomatic negotiation and explore alternative strategies.

Explanation

Pakistan’s EEZ extends 200 nautical miles from its coastline.

Within this zone, Pakistan has exclusive rights over marine resources and economic activities.

Explanation

The salaried class contributes most to income tax through payroll deductions.

Other sectors like agriculture and small businesses often have lower tax compliance.

Explanation

There are five major crops namely:

1. Cotton
2. wheat
3. rice
4. sugar cane
5. maize

Cotton is the most important cash crop in Pakistan in terms of area and value addition.

After Wheat, Rice is the second main staple food crop

Rice second major exportable commodity after cotton.

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nd12-2022

Explanation

According to the Economic Survey of Pakistan 2022-23, the GDP growth rate of Pakistan for the financial year 2023 was 0.29%.

This rate indicates significant economic challenges during that period.