MCQs Current Affairs – MEETING ON BUDGET PROPOSALS – MINISTRY OF INDUSTRIES AND PRODUCTION

1. Q1 Who chaired the meeting on budget proposals for the industrial sector?
(A) Prime Minister
(B) Special Assistant to the Prime Minister on Industries and Production, Mr. Haroon Akhtar Khan
(C) Secretary of the Ministry of Industries and Production, Mr. Saif Anjum
(D) Representative from the Engineering Development Board

2. Q2 What was one of the key proposals discussed in the meeting regarding LED lighting products?
(A) A 10% import duty on LED lighting products
(B) A 20% Regulatory Duty on LED lighting products
(C) Reduction in customs duties on LED products
(D) A subsidy for LED lighting imports

3. Q3 What tax reform did Mr. Haroon Akhtar Khan propose during the meeting?
(A) Increase in the sales tax rate
(B) Introduction of a super tax to align with regional corporate tax structures
(C) Reduction in income tax rates
(D) Introduction of new value-added tax on industrial goods

4. Q4 What was emphasized in the meeting as part of the Prime Minister’s vision for the industrial sector?
(A) Expansion of state-owned enterprises
(B) Creating a business-friendly environment to encourage investment
(C) Encouraging foreign ownership in local industries
(D) Focusing solely on large-scale industries

5. Q5 What was the goal regarding small and medium enterprises (SMEs) in the meeting?
(A) To provide direct financial assistance to SMEs
(B) To eliminate obstacles hindering the growth of SMEs
(C) To encourage the import of raw materials for SMEs
(D) To focus only on large-scale industries and multinational corporations

6. Q6 Which of the following departments was NOT mentioned as attending the meeting?
(A) Ministry of Industries and Production
(B) Engineering Development Board (EDB)
(C) Small and Medium Enterprises Development Authority (SMEDA)
(D) Ministry of Commerce