What is the main objective of Pakistan’s fiscal policy?
a) Increasing government spending
b) Reducing unemployment
c) Managing inflation and economic stability
d) Promoting tourism
Which body is responsible for preparing Pakistan’s federal budget?
a) State Bank of Pakistan
b) Ministry of Finance
c) Federal Board of Revenue
d) National Assembly
What is the term for the difference between government revenue and expenditure?
a) Fiscal balance
b) Budget surplus
c) Budget deficit
d) Monetary policy
Which tax generates the highest revenue for Pakistan?
a) Sales tax
b) Income tax
c) Customs duty
d) Excise duty
Who approves the federal budget in Pakistan?
a) Prime Minister
b) Senate
c) National Assembly
d) President
Which institution sets Pakistan’s monetary policy?
a) Federal Board of Revenue
b) Ministry of Finance
c) State Bank of Pakistan
d) Securities & Exchange Commission
What is the main source of government revenue in Pakistan?
a) Foreign loans
b) Taxation
c) Privatization
d) Foreign remittances
What does FBR stand for?
a) Federal Budget Regulation
b) Fiscal Banking Reserve
c) Federal Board of Revenue
d) Finance and Business Regulation
Which sector receives the highest allocation in Pakistan’s annual budget?
a) Health
b) Defense
c) Education
d) Agriculture
What is the name of Pakistan’s tax collection agency?
a) Federal Tax Department
b) Pakistan Revenue Authority
c) National Tax Bureau
d) Federal Board of Revenue
Which economic indicator measures Pakistan’s overall economic performance?
a) GDP
b) Inflation rate
c) Exchange rate
d) Budget deficit
What is Pakistan’s fiscal year?
a) January to December
b) April to March
c) July to June
d) October to September
What is the role of the Public Accounts Committee in Pakistan?
a) Approving the budget
b) Regulating tax rates
c) Auditing government expenditures
d) Printing currency notes
Which organization provides financial assistance to Pakistan for budgetary support?
a) World Bank
b) IMF
c) Asian Development Bank
d) Islamic Development Bank
What is the main purpose of the Public Sector Development Program (PSDP) in Pakistan?
a) Controlling inflation
b) Reducing taxes
c) Financing development projects
d) Supporting foreign exchange reserves
Which component of Pakistan’s budget determines the government’s borrowing needs?
a) Revenue receipts
b) Current expenditure
c) Fiscal deficit
d) Tax collection
How does the government finance a budget deficit?
a) Increasing salaries
b) Printing more money
c) Borrowing and taxation
d) Reducing foreign trade
Which type of tax is imposed directly on income and wealth?
a) Sales tax
b) Excise duty
c) Income tax
d) Customs duty
What is the purpose of the Finance Bill in Pakistan?
a) Declaring the monetary policy
b) Managing government loans
c) Implementing new tax laws
d) Controlling stock market
Which government agency in Pakistan is responsible for managing external debt?
a) Ministry of Finance
b) State Bank of Pakistan
c) Economic Affairs Division
d) Pakistan Bureau of Statistics
Which sector contributes the most to Pakistan’s tax revenue?
a) Manufacturing
b) Services
c) Agriculture
d) Real Estate
What is a major challenge in Pakistan’s tax collection system?
a) High compliance rate
b) Tax evasion
c) Strong enforcement measures
d) Surplus tax collection
What is the purpose of the NFC Award in Pakistan?
a) Allocating funds to provinces
b) Managing foreign exchange
c) Regulating interest rates
d) Promoting small businesses
Which of the following is a direct tax in Pakistan?
a) Sales tax
b) Customs duty
c) Income tax
d) Excise duty
What is the impact of fiscal deficit on the economy?
a) Reduces inflation
b) Lowers government debt
c) Increases borrowing
d) Strengthens currency
Which tax is levied on goods and services in Pakistan?
a) Income tax
b) Property tax
c) Sales tax
d) Wealth tax
What is the primary goal of Pakistan’s fiscal policy?
a) Reducing unemployment
b) Ensuring economic stability
c) Increasing currency printing
d) Controlling global oil prices
What percentage of Pakistan’s budget is allocated to education as per recent budgets?
a) 2-3%
b) 5-6%
c) 8-10%
d) 12-15%
Which of the following is NOT a source of government revenue?
a) Tax collection
b) Foreign aid
c) Export revenue
d) Stock market investments
What is Pakistan’s largest source of non-tax revenue?
a) Foreign remittances
b) Government fees and fines
c) Privatization proceeds
d) Interest on savings
