Following the adjustment announced on July 27, 2026, the price of petrol was set at Rs334.18 per litre. The other figures represent either the price of HSD or historical peak prices mentioned in the report. [Source: https://www.dawn.com/news/2018803/govt-decreases-petrol-price-by-re1-increases-hsd-price-by-rs337, 27 Jul 2026]
64262
Consider the following statements about the capital market reforms discussed on March 11, 2026:
1. The reforms aim to mobilize long-term domestic savings for private sector investment.
2. The Finance Minister suggested that Pakistan should ignore international experiences to focus solely on local models.
3. Strengthening market-making mechanisms is considered essential for improving investor confidence.
Which of the statements given above is/are correct?
Statement 1 and 3 are correct as they reflect the government's strategy to mobilize savings and improve market infrastructure. Statement 2 is incorrect because the Finance Minister explicitly directed institutions to review and adapt best practices from international and regional markets. [Source: https://www.dawn.com/news/1980943/finance-minister-stresses-more-balanced-system-where-capital-markets-complement-banking-sector, 11 Mar 2026]
64263
The Finance Minister emphasized that Pakistan must move toward a more balanced financial system where capital markets complement which sector?
The core objective of the current reform agenda is to reduce the economy's excessive reliance on traditional bank lending by developing a vibrant corporate bond market. This shift aims to create a balance between bank-based and market-based financing. [Source: https://www.dawn.com/news/1980943/finance-minister-stresses-more-balanced-system-where-capital-markets-complement-banking-sector, 11 Mar 2026]
64264
Which of the following is NOT a stated focus area for the reforms discussed by the Capital Market Development Council?
The government aims to provide alternatives to bank borrowing, not to mandate the conversion of existing bank loans into bonds. The other options are explicitly mentioned as key reform priorities. [Source: https://www.dawn.com/news/1980943/finance-minister-stresses-more-balanced-system-where-capital-markets-complement-banking-sector, 11 Mar 2026]
64265
Who chaired the Capital Market Development Council (CMDC) meeting held on March 11, 2026?
Muhammad Aurangzeb, as the Finance Minister, chaired the CMDC meeting to discuss reforms for the capital market. The other individuals listed are former finance ministers and are not the current officeholder for the 2026 event. [Source: https://www.dawn.com/news/1980943/finance-minister-stresses-more-balanced-system-where-capital-markets-complement-banking-sector, 11 Mar 2026]
64266
Which office within the Ministry of Finance has initiated consultations to examine tax-related issues impacting capital market participants?
The Tax Policy Office is specifically responsible for reviewing the tax framework to rationalize structures that affect both investors and issuers. The other offices listed handle different aspects of fiscal management, such as debt or budget coordination. [Source: https://www.dawn.com/news/1980943/finance-minister-stresses-more-balanced-system-where-capital-markets-complement-banking-sector, 11 Mar 2026]
64267
Which institution was directed by the Finance Minister to enhance outreach efforts regarding regulatory reforms for corporate bond issuance?
The Securities and Exchange Commission of Pakistan (SECP) is the primary regulator tasked with simplifying frameworks and improving market access for corporate bonds. While the State Bank of Pakistan oversees the banking sector, the SECP specifically regulates capital market instruments. [Source: https://www.dawn.com/news/1980943/finance-minister-stresses-more-balanced-system-where-capital-markets-complement-banking-sector, 11 Mar 2026]
64268
What is the primary reason the FASTER system incorrectly flags export Goods Declarations (GDs) for non-commercial samples?
The system fails to differentiate between commercial exports and non-commercial samples, leading to erroneous 'GD Not Realised' objections. This forces claims into manual processing, which is the core systemic flaw identified by the FTO. [Source: https://www.dawn.com/news/2018193/federal-tax-ombudsman-flags-error-in-fbrs-refund-system, 25 Jul 2026]
64269
Which of the following statements regarding the FTO's findings on the FASTER system is INCORRECT?
The FTO directed the FBR's Inland Revenue and Customs wings to jointly resolve the matter, not to unilaterally change the Sales Tax Act. The other statements accurately reflect the systemic issues identified in the report. [Source: https://www.dawn.com/news/2018193/federal-tax-ombudsman-flags-error-in-fbrs-refund-system, 25 Jul 2026]
64270
Which entity informed the Federal Tax Ombudsman that it lacks the legal or technical authority to alter export GD data received from Pakistan Customs?
Pakistan Revenue Automation Ltd (PRAL) acts as the technical interface provider and clarified that it merely processes data received from Customs without the authority to modify it. The FBR is the parent body, but PRAL handles the specific technical automation. [Source: https://www.dawn.com/news/2018193/federal-tax-ombudsman-flags-error-in-fbrs-refund-system, 25 Jul 2026]
