The Petroleum Minister stated that the daily price announcements would be calculated based on a seven-day weekly average of international market prices. This ensures that domestic prices reflect recent global trends while smoothing out extreme daily volatility. [Source: https://www.dawn.com/news/2016227/govt-to-fix-fuel-prices-daily-due-to-renewed-hostilities-in-persian-gulf-petroleum-minister, 17 Jul 2026]
2152
Consider the following statements about the energy policy changes announced on July 17, 2026:
1. The government intends to maintain strategic petroleum reserves to enhance energy security.
2. The new pricing mechanism requires ministerial approval for every daily adjustment.
3. The government is consulting with international experts to assess the feasibility of energy storage initiatives.
Which of the statements given above is/are correct?
Statement 2 is incorrect because the minister explicitly stated that prices would be adjusted without requiring approval from him or other ministers, as part of the deregulation effort. Statements 1 and 3 are correct as they reflect the government's stated intent to study and build strategic reserves with international consultants. [Source: https://www.dawn.com/news/2016227/govt-to-fix-fuel-prices-daily-due-to-renewed-hostilities-in-persian-gulf-petroleum-minister, 17 Jul 2026]
2153
Consider the following statements about Kylian Mbappe's World Cup career:
1. He scored four goals in the 2018 World Cup.
2. He scored eight goals in the 2022 World Cup.
3. He has participated in three World Cup campaigns as of 2026.
Which of the statements given above is/are correct?
All three statements are factually accurate. Mbappe scored 4 goals in 2018, 8 goals in 2022, and the 2026 tournament marked his third World Cup campaign. [Source: https://www.dawn.com/news/2016719/frances-mbappe-becomes-world-cups-all-time-top-scorer, 19 Jul 2026]
2154
The Federal Board of Revenue (FBR) functions under the administrative control of which division?
The Federal Board of Revenue operates under the Revenue Division, which is a part of the Ministry of Finance. It is the primary agency responsible for the collection of federal taxes in Pakistan.
The statement that the Balochistan Liberation Army (BLA) has never claimed responsibility for attacks is false, as the BLA has previously claimed responsibility for attacks, such as the 2022 suicide bombing at the University of Karachi's Confucius Institute. [Source: https://www.dawn.com/news/2016208/security-of-chinese-in-pakistan-paramount-for-us-says-pm-shehbaz, 17 Jul 2026]
2156
Consider the following statements about the 2026 global economic outlook:
1. The World Bank projects that inflation in developing economies will be higher than previously expected before the conflict.
2. Urea prices are expected to jump by 60% in 2026.
3. Shipping through the Strait of Hormuz is expected to return to pre-war levels by early 2026.
Which of the statements given above is/are correct?
Statement 1 is correct as inflation was revised upward by one percentage point. Statement 2 is correct regarding the 60% jump in urea. Statement 3 is incorrect because the baseline assumption is a return to pre-war levels by late 2026, not early 2026. [Source: https://www.dawn.com/news/1995842/energy-prices-expected-to-surge-24pc-reaching-highest-level-since-2022-russia-ukraine-war-world-bank-assessment, 28 Apr 2026]
2157
Which of the following trade governance instruments is designed to provide preferential market access to developing nations without requiring reciprocal concessions?
The Generalized System of Preferences (GSP) is a formal trade arrangement that allows developed countries to lower tariffs on imports from developing countries, promoting economic development without the requirement of reciprocity.
Contractionary monetary policy involves raising interest rates or reducing the money supply to cool down an overheating economy and stabilize price levels by dampening aggregate demand.
Under constitutional mechanisms, which principle ensures that the executive branch remains accountable to the legislature regarding fiscal policy and budgetary allocations?
Parliamentary oversight, specifically through the power of the purse, is a fundamental constitutional mechanism that requires the executive to seek legislative approval for taxation and expenditure, ensuring democratic accountability.
Under the Constitution of Pakistan, which provision grants the President the authority to issue a Proclamation of Emergency due to external aggression or internal disturbance?
Article 232 of the Constitution of Pakistan outlines the constitutional mechanism for declaring a state of emergency, distinct from Article 58 (dissolution of the National Assembly) or Article 184 (original jurisdiction of the Supreme Court).
