Q3. Explain the main aspects about nationalization of banks and insurance companies announced by Zulfiqar Ali Bhutto.

Ans: Nationalization of Banks and Insurance Companies:

The big capitalist families had their own banks and insurance companies

which were encouraging the capitalist system. The government was not

gaining any considerable profit from these units. For the economic stability of

the country, all insurance companies were nationalized and merged under

the control of State Life Corporation on 19th March, 1972. All the scheduled

banks were also taken over by the government of Pakistan on 1st January,

  1. Nationalization of banks and insurance companies proved very fruitful

for the economie stability and prosperity of people of Pakistan. The prof

gained was spent for the betterment of the public.

Related Questions:

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  2. Q23. Under which amendment were the powers of Federal Government transferred to provincial governments?
  3. Q24. When did Nawaz Sharif return for the third time as the Prime Minister of Pakistan?
  4. Q25. Highlight the reasons of Nawaz Sharif for not completing his tenure as the Prime Minister of Pakistan.
  5. Q26. Who emerged as the new government in the elections of 2018?
  6. Q(i). Enlist four salient features of the 1973 constitution.
  7. Q(ii), Mention major steps taken by Benazir Government during her first tenure in office.
  8. Q(iii). When and why the first government of Benazir Bhutto was terminated.
  9. Q(iv), Give a brief account of the important steps taken by Nawaz Sharif government during its first tenure,
  10. Q(v). When and why the first government of Nawaz Sharif was terminated,
  11. Q(vi). Write a short note on Afghan Jihad,
  12. Q(vii). What were the results of 2002 general elections?
  13. Q(viii). Briefly enlist Gen. Parvez Musharraf’s ideas which formed the basis of his Devolution Plan.
  14. Q(ix). Write shortly about the 13th constitutional amendment.
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  20. Qv.Under which law did America discontinue the supply of defence armaments to Pakistan?