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The MCQs below are drawn from the Current Affairs subject category.
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64211
Under the constitutional framework of Pakistan, which body is responsible for the distribution of financial resources between the federal and provincial governments?
The National Finance Commission (NFC) is a constitutional mechanism established under Article 160 to determine the formula for the horizontal and vertical distribution of tax revenues.
These administrative and judicial actions were reported on the same day; however, internal reporting sequences for public interest notifications often follow institutional hierarchy and time-stamping of orders provided by respective departments. [Source: https://www.dawn.com/news/2020762/lhc-disposes-of-pti-petition-for-rally-at-minar-i-pakistan-after-dc-refuses-permission]
64213
Consider the following statements regarding Pakistan's governance and foreign policy developments as reported in August 2026:
1. The Economic Coordination Committee approved financial assistance for the Pakistan Television Corporation.
2. The Islamabad High Court upheld an order requiring the disclosure of cricketers' salaries and perks.
3. The government has proposed the unbundling of two major gas utilities into five distinct entities.
Statement 1 is correct (ECC approved 13bn for PTV). Statement 2 is incorrect, as the Islamabad High Court actually suspended the order regarding the disclosure of cricketers' salaries. Statement 3 is correct regarding the restructuring of SNGPL and SSGCL into five entities. [Source: https://www.dawn.com/news/2020697/economic-coordination-committee-approves-rs13bn-lifeline-for-struggling-ptv]
64214
Which organization is collaborating with the government to address barriers related to international payments for freelancers?
The Punjab Finance Minister noted that the provincial government is working with the federal government and the Special Investment Facilitation Council (SIFC) to resolve payment system issues. The SIFC is specifically tasked with streamlining investment and economic facilitation. [Source: https://www.dawn.com/news/2016952/china-to-train-03m-pakistani-youths-in-digital-skills-annually-says-ahsan-iqbal, 20 Jul 2026]
64215
Under the proposed financial mechanism, what is the maximum maturity period for the stabilization facility requested by Pakistan?
The proposed bilateral stabilization facility is structured to have a maturity period of up to five years. The other options represent different standard loan durations not applicable to this specific request. [Source: https://www.dawn.com/news/2017402/aurangzeb-seeks-10bn-support-facility-from-us, 22 Jul 2026]
64216
On May 14, 2026, where did the PPP Chairman chair a parliamentary party meeting?
Bilawal Bhutto-Zardari held the parliamentary party meeting at the Parliament House in Islamabad on May 14, 2026. Aiwan-i-Sadr is the official residence of the President and was not the venue for this specific party meeting. [Source: https://www.dawn.com/news/2000262/govt-has-not-contacted-ppp-over-any-constitutional-amendment-bilawal, 14 May 2026]
64217
Which of the following statements regarding the PPP's stance on the National Accountability Bureau (NAB) is INCORRECT?
The PPP chairman stated that if the government fails to fulfill its commitments, the party reserves the right to reconsider its decisions regarding the NAB amendments, making incorrect. [Source: https://www.dawn.com/news/2000262/govt-has-not-contacted-ppp-over-any-constitutional-amendment-bilawal, 14 May 2026]
64218
Consider the following statements about the Fixed Tax Asaan Scheme:
1. It is a mandatory scheme for all traders with an annual turnover below Rs200 million.
2. Participants receive a QR-coded plaque that prevents tax inspectors from entering their premises for routine inspections.
3. Tier-1 businesses operating in the branded sector are excluded from the scheme.
Which of the statements given above is/are correct?
Statement 1 is incorrect because the scheme is optional, not mandatory. Statements 2 and 3 are correct as the plaque serves as a shield against inspections for compliant participants, and Tier-1 branded businesses are explicitly barred from the scheme. [Source: https://www.dawn.com/news/2005415/govt-launches-scheme-to-bring-small-shop-owners-into-tax-net, 05 Jun 2026]
64219
What is the minimum tax payment required at the time of filing to qualify for the adjustable tax rate under the new scheme?
To benefit from the adjustable tax rate, participants must pay a minimum of Rs25,000 at the time of filing the tax form. If this minimum is not met, the standard tax rate of 1% applies without the adjustment benefit. [Source: https://www.dawn.com/news/2005415/govt-launches-scheme-to-bring-small-shop-owners-into-tax-net, 05 Jun 2026]
64220
Which of the following individuals is NOT part of the four-member PPP team formed to present budget proposals to the government?
The four-member team consists of Raja Pervaiz Ashraf, Saleem Mandviwalla, Sherry Rehman, and Naveed Qamar. President Asif Ali Zardari is not a member of this specific committee. [Source: https://www.dawn.com/news/2000262/govt-has-not-contacted-ppp-over-any-constitutional-amendment-bilawal, 14 May 2026]
