July 2024 Edition
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July 2024 Current Affairs MCQs & Solutions
Top national & international current affairs questions for CSS, PMS, FPSC, PPSC, and NTS screening tests.
#1461
Which of the following institutions is NOT among those the Finance Minister is scheduled to meet during his July 2026 visit?
(a) US Export-Import Bank
(b) International Development Finance Corporation
(c) International Monetary Fund
(d) World Trade Organization
Explanation: The Finance Minister's schedule includes meetings with the USTR, Exim Bank, DFC, and the IMF. The World Trade Organization is not listed as a meeting partner for this specific bilateral visit to Washington. [Source: https://www.dawn.com/news/2016679/finance-minister-aurangzeb-arrives-in-us-on-3-day-visit-expected-to-hold-talks-on-trade-finance-investment, 19 Jul 2026]
#1462
Consider the following statements about the political transition in the United Kingdom on July 20, 2026: 1. Andy Burnham was appointed by King Charles III to form a new government. 2. The transition occurred following the resignation of Keir Starmer. 3. Andy Burnham indicated that his first diplomatic calls would include the leaders of the United States and Ukraine. Which of the statements given above are correct?
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) All three
Explanation: All three statements are factually accurate based on the events of July 20, 2026. Burnham was appointed by the King, succeeded Starmer, and confirmed his intent to contact the US and Ukrainian presidents. [Source: https://www.dawn.com/news/2017007/andy-burnham-becomes-uk-pm-says-britain-needs-to-regain-stability, 20 Jul 2026]
#1463
Consider the following statements about the petroleum sector reform announced in July 2026: 1. The reform replaces the weekly price announcement cycle with a daily adjustment mechanism. 2. The policy was approved by the federal cabinet on the directive of the Prime Minister. 3. The Inland Freight Equalisation Margin (IFEM) is being excluded from the new pricing formula. Which of the statements given above is/are correct?
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) All three
Explanation: Statements 1 and 2 are correct as they reflect the core policy shift and the administrative approval process. Statement 3 is incorrect because the Petroleum Division is actively addressing technical matters, including the IFEM, within the new framework rather than excluding it. [Source: https://www.dawn.com/news/2016504/daily-fuel-price-adjustments-to-curb-market-abuse-ensure-fair-prices-petroleum-minister, 18 Jul 2026]
#1464
Who appointed Andy Burnham as the Prime Minister of the United Kingdom on July 20, 2026?
(a) King William V
(b) King Charles III
(c) King George VII
(d) None of these
Explanation: King Charles III formally appointed Andy Burnham as Prime Minister during an audience at Buckingham Palace. The other options are incorrect as they do not represent the current British monarch. [Source: https://www.dawn.com/news/2017007/andy-burnham-becomes-uk-pm-says-britain-needs-to-regain-stability, 20 Jul 2026]
#1465
Which of the following statements regarding the FTO ruling on July 21, 2026, is INCORRECT?
(a) The FTO held that the FBR is duty-bound to provide a functional interface for taxpayers.
(b) The complainant was a salaried individual serving as a director in a private limited company.
(c) The FBR successfully argued that software limitations are a valid legal defense against tax credit claims.
(d) The FTO found that the department's silence on the matter constituted maladministration.
Explanation: The FTO explicitly rejected the FBR's attempt to use software limitations as a shield. Therefore, the statement that the FBR successfully used this as a legal defense is false. [Source: https://www.dawn.com/news/2017155/fbr-cannot-hide-behind-software-limitations-federal-tax-ombudsman, 21 Jul 2026]
#1466
Following the government announcement on July 20, 2026, what is the new price of petrol per litre in Pakistan?
(a) Rs315.80
(b) Rs360.06
(c) Rs458.41
(d) Rs266.00
Explanation: The government set the price of petrol at Rs315.80 per litre following the adjustment announced on July 20, 2026. The figure Rs360.06 represents the price of high-speed diesel, while the other options are historical peak or starting prices. [Source: https://www.dawn.com/news/2017065/govt-decreases-petrol-price-by-rs035-increases-diesel-by-rs571-per-litre, 20 Jul 2026]
#1467
Consider the following statements about the fuel pricing policy in Pakistan: 1. The government transitioned to a daily fuel pricing mechanism due to international market volatility. 2. The Petroleum Division announced that fuel prices would be fixed weekly starting from July 2026. 3. Regional hostilities in the Persian Gulf have been cited as a primary factor for the recent price fluctuations. Which of the statements given above is/are correct?
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) All three
Explanation: Statement 1 and 3 are correct as the government moved to a daily pricing mechanism due to regional hostilities. Statement 2 is incorrect because the government moved to a daily, not weekly, pricing mechanism. [Source: https://www.dawn.com/news/2017065/govt-decreases-petrol-price-by-rs035-increases-diesel-by-rs571-per-litre, 20 Jul 2026]
#1468
Consider the following statements about the fuel price adjustment on July 3, 2026: 1. The price reduction was implemented to pass on the impact of lower global prices. 2. The government increased the petroleum levy, which prevented a larger decrease in fuel prices. 3. The ex-depot price of high-speed diesel was set at Rs309.50 per litre. Which of the statements given above is/are correct?
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) All three
Explanation: All three statements are factually accurate. The price cut was a response to global trends, the levy increase mitigated a larger price drop, and the new HSD price was officially set at Rs309.50. [Source: https://www.dawn.com/news/2012738/govt-slashes-petrol-diesel-prices-by-rs197, 03 Jul 2026]
#1469
Which of the following statements regarding the fuel tax structure in July 2026 is INCORRECT?
(a) The petroleum levy on diesel stands at approximately Rs80 per litre.
(b) The petroleum levy on petrol stands at approximately Rs70 per litre.
(c) The government reduced the climate support levy to zero to offset price hikes.
(d) The customs duty on petrol is Rs16 per litre.
Explanation: The government actually doubled the climate support levy to Rs5 per litre, not reduced it to zero. Options A, B, and C accurately reflect the tax components mentioned in the fiscal data. [Source: https://www.dawn.com/news/2012738/govt-slashes-petrol-diesel-prices-by-rs197, 03 Jul 2026]
#1470
Which of the following is NOT a US institution that the Finance Minister is scheduled to engage with during his July 2026 visit?
(a) Federal Bureau of Investigation (FBI)
(b) US International Development Finance Corporation (DFC)
(c) US Export-Import (Exim) Bank
(d) International Monetary Fund (IMF)
Explanation: The Finance Minister's visit focuses on economic and financial institutions; the FBI is a law enforcement agency and is not involved in trade or tariff negotiations. The other three organizations are explicitly mentioned as part of the official itinerary. [Source: https://www.dawn.com/news/2016143/finance-minister-to-visit-washington-for-trade-tariff-talks-with-us, 17 Jul 2026]
#1471
Who is the current Finance Minister of Pakistan leading the trade and tariff negotiations in Washington as of July 2026?
(a) Muhammad Aurangzeb
(b) Ishaq Dar
(c) Shaukat Tarin
(d) None of these
Explanation: Muhammad Aurangzeb is the serving Finance Minister who traveled to Washington in July 2026 to engage with US officials regarding trade agreements and tariff structures. The other individuals listed are former finance ministers. [Source: https://www.dawn.com/news/2016143/finance-minister-to-visit-washington-for-trade-tariff-talks-with-us, 17 Jul 2026]
#1472
Consider the following statements about the fuel pricing policy in Pakistan as of July 2026: 1. The government has transitioned from weekly to daily fuel price revisions. 2. High-speed diesel is primarily utilized in the heavy transport sector and power plants. 3. The All Pakistan Dealers Association has fully supported the new daily pricing mechanism. Which of the statements given above is/are correct?
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) All three
Explanation: Statements 1 and 2 are correct as they reflect the government's policy shift and the usage profile of diesel. Statement 3 is incorrect because the Dealers Association rejected the daily pricing decision and threatened protests. [Source: https://www.dawn.com/news/2016247/govt-increases-petrol-price-by-rs544-diesel-by-rs3105-per-litre-for-next-three-days, 17 Jul 2026]
#1473
Which Pakistani official led the delegation to the United States in July 2026 to discuss economic cooperation?
(a) Muhammad Aurangzeb
(b) Ishaq Dar
(c) Shamshad Akhtar
(d) Miftah Ismail
Explanation: Finance Minister Muhammad Aurangzeb led the delegation and held meetings with the US Treasury Secretary. The other individuals listed are former finance ministers or officials not involved in this specific 2026 visit. [Source: https://www.dawn.com/news/2017582/us-treasury-secretary-welcomes-pakistans-economic-reforms-return-to-capital-markets, 22 Jul 2026]
#1474
What is the percentage rate of the Ad hoc Relief Allowance-2026 granted to federal civil employees effective from July 1, 2026?
(a) 5 percent
(b) 7 percent
(c) 10 percent
(d) 15 percent
Explanation: The government notification issued on July 22, 2026, explicitly states that a 7 percent Ad hoc Relief Allowance-2026 was granted to federal civil employees. This allowance is calculated based on the running basic pay under the new BPS-2026 structure. [Source: https://www.brecorder.com/news/40431195/salary-increase-notified-govt-issues-revised-bps-2026-for-civil-servants, 22 Jul 2026]
#1475
Who is the current US Treasury Secretary who met with Pakistan's Finance Minister in July 2026?
(a) Janet Yellen
(b) Timothy Geithner
(c) Steven Mnuchin
(d) Scott Bessent
Explanation: Scott Bessent is the US Treasury Secretary who held discussions with Finance Minister Muhammad Aurangzeb regarding Pakistan's economic reforms. Janet Yellen is a former Treasury Secretary, making her an incorrect choice. [Source: https://www.dawn.com/news/2017582/us-treasury-secretary-welcomes-pakistans-economic-reforms-return-to-capital-markets, 22 Jul 2026]
#1476
Consider the following statements about the economic discussions held in July 2026: 1. The US Treasury Secretary explicitly approved the $10 billion exchange stabilisation facility during the meeting. 2. Pakistan is aiming to transition from macroeconomic stabilisation to export-led growth. 3. The US Treasury commended Pakistan's commitment to creating conditions for a return to international capital markets. Which of the statements given above is/are correct?
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) All three
Explanation: Statement 1 is incorrect because the US Treasury statement did not address or approve the $10 billion request. Statements 2 and 3 accurately reflect the official positions stated during the visit. [Source: https://www.dawn.com/news/2017582/us-treasury-secretary-welcomes-pakistans-economic-reforms-return-to-capital-markets, 22 Jul 2026]
#1477
Arrange the following events in the order of their contextual development within the July 2026 week: I. Notification of the new tax regime for small shopkeepers. II. Launch of the 45km Green Railway Corridor project in Punjab. III. Onset of the new monsoon spell leading to a roof collapse in Lahore. IV. Announcement of mandatory screening legislation for HIV/Hepatitis.
(a) I, II, IV, III
(b) II, I, III, IV
(c) III, IV, II, I
(d) IV, III, I, II
Explanation: The order is established based on the implementation of economic policy (I), the inauguration of infrastructure projects (II), the introduction of legislative policy (IV), and the environmental impact of the weather shift (III) as reported on July 29. [Source: https://www.dawn.com/news/2019158/fbr-notifies-new-tax-regime-for-small-shopkeepers]
#1478
Which of the following factors was primarily responsible for the pressure on Indian bond sentiment during the week ending July 24, 2026?
(a) Surging oil prices
(b) Domestic political instability
(c) A sudden decline in tax revenue
(d) None of these
Explanation: Surging oil prices and higher U.S. Treasury yields were the primary drivers of negative sentiment in the Indian bond market. Domestic political instability and tax revenue are not cited as factors in this context. [Source: https://www.brecorder.com/news/40431650/india-bonds-end-three-day-losing-streak-but-post-second-straight-weekly-decline, 24 Jul 2026]
#1479
On July 25, 2026, which regulatory body granted the first private electricity distribution and SoLR licenses to DHA Energy Supply Company?
(a) Oil and Gas Regulatory Authority
(b) National Electric Power Regulatory Authority
(c) Public Procurement Regulatory Authority
(d) None of these
Explanation: The National Electric Power Regulatory Authority (NEPRA) is the sole regulator responsible for issuing electricity distribution and supply licenses in Pakistan. The other options are regulatory bodies for different sectors. [Source: https://www.dawn.com/news/2018147/karachis-dha-city-becomes-first-private-entity-to-light-up-its-own-housing-project, 25 Jul 2026]
#1480
Which of the following statements regarding Pakistan's recent domestic policy developments as of July 29, 2026, are correct?
(a) Only 1 and 2 are correct.
(b) Only 2 and 3 are correct.
(c) Only 1 and 3 are correct.
(d) 1, 2, and 3 are all correct.
Explanation: The digitization of welfare via the Rahmat Card aims to increase transparency, the FBR is implementing new tax regimes to address fiscal deficits, and monsoon-related climate events continue to pose significant infrastructure and human safety risks in cities like Lahore. [Source: https://www.brecorder.com/news/40432278/jazzcash-begins-rahmat-card-digital-disbursements]