Free Economy and Budget MCQs with Answers

111. What is total outlay of the federal budget of 2022-23?

• A. 8.4 trillion
• B. 9.5 trillion
• C. 09 trillion
• D. 8.5 trillion

Explanation: The federal budget for 2022-23 had a total outlay of about Rs9.58 trillion, commonly rounded in contemporary reports to Rs9.5 trillion. The Rs8.5 trillion figure belongs to an earlier budget context.

112. Who presented the federal budget of Rs 9.5 trillion for the financial year 2022-23?

• A. Shaukat Tarin
• B. Hammad Azhar
• C. Miftah Ismail
• D. None of These

Explanation: Miftah Ismail, then federal finance minister, presented the Rs9.5 trillion federal budget for 2022-23. Shaukat Tarin and Hammad Azhar held the finance portfolio in earlier periods.

113. How much of a relief package did Prime Minister Shehbaz Sharif announced in May 2022?

• A. Rs22 billion
• B. Rs28 billion
• C. Rs38 billion
• D. None of These

Explanation: Prime Minister Shehbaz Sharif announced a Rs28 billion relief package in May 2022, including measures aimed at easing the economic burden on citizens. The Rs22 billion and Rs38 billion figures do not match the reported package.

114. Largest Tea Importer of the World is __________?

• A. Africa
• B. Pakistan
• C. India
• D. Bangladesh

Explanation: Pakistan is widely reported as the world’s largest tea-importing country because domestic production is far below national consumption. India produces substantial tea domestically, so it is not the best answer to this import-based question.

115. Prime minister Shahbaz Shareef has cut down the size of Economic Coordination Committee to________members?

• A. 5
• B. 6
• C. 7
• D. 8

Explanation: Shehbaz Sharif reduced the Economic Coordination Committee to five members to make economic decision-making more focused. The question concerns the committee’s revised composition, not the size of the full federal cabinet.

116. What is the Pakistan's rank in the 2022 UN World Happiness report?

• A. 121st
• B. 105th
• C. 109th
• D. None of these

Explanation: Pakistan ranked 121st in the World Happiness Report 2022. The report ranks countries using factors such as social support, income, health, freedom and perceptions of corruption.

117. The State Bank of Pakistan (SBP) has directed banks to employ at least ________ percent of women in the workforce by 2023?

• A. 20 percent
• B. 30 percent
• C. 40 percent
• D. None of these

Explanation: The SBP’s banking-sector gender policy set a target of at least 20 percent female representation in the workforce by 2023. The higher figures were not the stated minimum target.

118. The government approved _________ billion for PM's relief package?

• A. Rs103 billion
• B. Rs303 billion
• C. Rs400 billion
• D. None of these

Explanation: The government approved a Rs303 billion package associated with the Prime Minister’s relief measures, including support against rising fuel and electricity costs. The Rs103 billion and Rs400 billion figures do not match the cited approval.

119. Economic Coordination Committee (ECC) of the Cabinet approved __________ subsidy for 19 kitchen items for Ramazan Relief Package?

• A. Rs4.28bn
• B. Rs5.28bn
• C. Rs8.28bn
• D. None of these

Explanation: The ECC approved Rs8.28 billion in subsidy for 19 essential kitchen items under the Ramazan Relief Package. The smaller amounts are commonly confused with other subsidy allocations.

120. The National Bank of Pakistan (NBP) has been fined more than _________ million by United States authorities for anti-money laundering violations?

• A. $45 million
• B. $55 million
• C. $75 million
• D. None of these

Explanation: The National Bank of Pakistan faced US penalties exceeding $55 million for anti-money-laundering and compliance failures. The amount reflected enforcement action by US authorities rather than a fine imposed by Pakistan's central bank.