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In which year were all major private banks, including NBP, nationalized in Pakistan?

A) 1947
B) 1956
C) 1974
D) 1988

Correct Answer: C) 1974

In 1974, the government of Zulfikar Ali Bhutto nationalized all major private banks in Pakistan, including the National Bank of Pakistan (which was already state-owned but brought under the same consolidated structure). This was a major economic reform of its time.

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