March 2024 Edition
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March 2024 Current Affairs MCQs & Solutions
Top national & international current affairs questions for CSS, PMS, FPSC, PPSC, and NTS screening tests.
#3701
Brent crude futures fell to approximately what price per barrel on March 11, 2026, following the market's reaction to de-escalation hopes?
(a) 105.60 dollars
(b) 92.45 dollars
(c) 84.73 dollars
(d) 119.00 dollars
Explanation: Brent futures dropped to $84.73 per barrel on March 11, 2026, representing a sharp decline from the session highs observed earlier in the week. The other values represent either higher price points or incorrect benchmarks. [Source: https://www.dawn.com/news/1980727/oil-plunges-15pc-amid-hopes-of-de-escalation, 11 Mar 2026]
#3702
All of the following factors contributed to the volatility of oil prices in March 2026 EXCEPT:
(a) Supply cuts by Saudi Arabia and other producers
(b) A permanent global transition to renewable energy sources
(c) Concerns regarding disruptions in the Strait of Hormuz
(d) Diplomatic proposals aimed at a settlement to the war
Explanation: The market volatility in March 2026 was driven by immediate geopolitical tensions and supply chain concerns, not by a long-term transition to renewable energy. The other three options are direct factors that influenced the price fluctuations described. [Source: https://www.dawn.com/news/1980727/oil-plunges-15pc-amid-hopes-of-de-escalation, 11 Mar 2026]
#3703
Who is the current Chairman of the Pakistan Vanaspati Manufacturers Association (PVMA) as of March 2026?
(a) Sheikh Umer Rehan
(b) Muhammad Zubair Motiwala
(c) Atif Ikram Sheikh
(d) None of these
Explanation: Sheikh Umer Rehan serves as the Chairman of the PVMA and issued the official statement regarding the stability of edible oil supplies. The other names listed are prominent business figures but do not hold this specific position. [Source: https://www.dawn.com/news/1980381/no-shortage-of-edible-oil-pvma, 10 Mar 2026]
#3704
In March 2026, which US official stated that the American military had facilitated a shipment of oil to maintain global energy stability?
(a) Secretary of Energy
(b) Secretary of Defense
(c) Secretary of State
(d) Secretary of Treasury
Explanation: US Energy Secretary Chris Wright publicly confirmed that the American military facilitated oil shipments through the Strait of Hormuz. This action was intended to reassure markets regarding the continuity of energy supplies. [Source: https://www.dawn.com/news/1980727/oil-plunges-15pc-amid-hopes-of-de-escalation, 11 Mar 2026]
#3705
On March 11, 2026, by what approximate percentage did global oil prices plunge following reports of potential de-escalation in the conflict with Iran?
(a) 5 percent
(b) 10 percent
(c) 20 percent
(d) 15 percent
Explanation: Oil prices experienced a significant correction of approximately 15 percent on March 11, 2026, as markets reacted to diplomatic signals suggesting a potential end to the conflict. This followed a period of extreme volatility where prices had previously surged to levels not seen since 2022. [Source: https://www.dawn.com/news/1980727/oil-plunges-15pc-amid-hopes-of-de-escalation, 11 Mar 2026]
#3706
Which geopolitical conflict was cited as a potential cause for supply chain disruptions affecting edible oil imports in March 2026?
(a) Russia-Ukraine conflict
(b) Israel-Palestine conflict
(c) US-Iran conflict
(d) China-Taiwan tensions
Explanation: The PVMA identified the US-Iran conflict as the primary source of regional geopolitical tension impacting maritime supply routes. While other conflicts exist, this specific event was the focus of the industry's supply chain assessment. [Source: https://www.dawn.com/news/1980381/no-shortage-of-edible-oil-pvma, 10 Mar 2026]
#3707
Consider the following statements regarding the global oil market situation in March 2026: 1. Crude benchmarks had surged to their highest levels since 2022 prior to the price plunge. 2. The US administration expressed concerns that high energy prices could negatively impact consumer sentiment before midterm elections. 3. Market analysts suggested that the initial price surge was an overreaction to the upside, while the subsequent plunge was an overreaction to the downside. 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 market conditions and expert commentary provided in the report. The surge to 2022 levels, the political sensitivity of energy prices, and the assessment of market overreaction are all verified components of the event. [Source: https://www.dawn.com/news/1980727/oil-plunges-15pc-amid-hopes-of-de-escalation, 11 Mar 2026]
#3708
What is the primary reason cited for the anticipated disruptions in the supply chain of petroleum products in March 2026?
(a) Domestic refinery maintenance
(b) Middle East crisis
(c) Port congestion at Karachi
(d) Pipeline sabotage
Explanation: The notification explicitly links the anticipated disruptions to the Middle East crisis and the resulting logistical challenges in the Strait of Hormuz. Other options like refinery maintenance or port congestion are not the stated causes for this specific policy shift. [Source: https://www.dawn.com/news/1979478/kp-finance-dept-orders-adoption-of-fuel-conservation-measures-due-to-anticipated-disruptions, 07 Mar 2026]
#3709
What was the policy interest rate maintained by the State Bank of Pakistan as of March 10, 2026?
(a) 8.5 percent
(b) 9.5 percent
(c) 10.5 percent
(d) 11.5 percent
Explanation: The State Bank of Pakistan's monetary policy committee decided to keep the interest rate at 10.5 percent in March 2026. This rate was maintained despite calls from the business community for a reduction to support industrial growth. [Source: https://www.dawn.com/news/1980387/high-interest-rate-to-hit-economy-in-war-times-warn-businesses, 10 Mar 2026]
#3710
Which provincial government department issued the directive for fuel conservation measures on March 7, 2026?
(a) Planning and Development Department
(b) Finance Department
(c) Local Government Department
(d) None of these
Explanation: The Khyber Pakhtunkhwa Finance Department issued the notification on March 7, 2026, to ensure the judicious use of petroleum products. Other departments like Planning or Local Government were not the primary issuers of this specific austerity directive. [Source: https://www.dawn.com/news/1979478/kp-finance-dept-orders-adoption-of-fuel-conservation-measures-due-to-anticipated-disruptions, 07 Mar 2026]
#3711
Consider the following statements regarding the economic concerns raised by business leaders in March 2026: 1. Business leaders argued that high interest rates discourage capital investment and modernization. 2. The SBP acknowledged a decline in exports alongside an increase in imports as a sign of slowing economic activity. 3. The business community unanimously agreed that the 10.5 percent interest rate was the optimal level for economic stability. 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 concerns regarding investment and the SBP's own assessment of trade data. Statement 3 is incorrect because the business community expressed disappointment and advocated for a rate reduction, showing a lack of consensus on the optimality of the 10.5 percent rate. [Source: https://www.dawn.com/news/1980387/high-interest-rate-to-hit-economy-in-war-times-warn-businesses, 10 Mar 2026]
#3712
Consider the following statements regarding the fuel conservation measures issued in March 2026: 1. The directive applies to all offices working under the KP Finance Department. 2. The Prime Minister has directed the finance and petroleum ministers to coordinate with provinces for a conservation strategy. 3. The fuel conservation measures were implemented because the government has no petroleum reserves left. 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 scope of the provincial directive and the federal government's coordination efforts. Statement 3 is incorrect because the government explicitly assured the nation that petroleum reserves were sufficient. [Source: https://www.dawn.com/news/1979478/kp-finance-dept-orders-adoption-of-fuel-conservation-measures-due-to-anticipated-disruptions, 07 Mar 2026]
#3713
Consider the following statements about the edible oil supply chain in Pakistan as of March 2026: 1. The PVMA has reported a critical shortage of raw materials for ghee production. 2. Maritime supply routes are being monitored due to regional geopolitical tensions. 3. Domestic reserves are projected to cover national demand for the next two months. 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 PVMA explicitly stated there is no shortage of raw materials. Statements 2 and 3 are correct as they align with the association's assessment of regional risks and current stock levels. [Source: https://www.dawn.com/news/1980381/no-shortage-of-edible-oil-pvma, 10 Mar 2026]
#3714
Who is the current Petroleum Minister of Pakistan as of March 2026?
(a) Muhammad Aurangzeb
(b) Ali Pervaiz Malik
(c) Murad Ali Shah
(d) None of these
Explanation: Ali Pervaiz Malik is the Petroleum Minister who briefed provincial leadership on fuel reserves. Muhammad Aurangzeb is the Finance Minister, and Murad Ali Shah is the Chief Minister of Sindh. [Source: https://www.dawn.com/news/1979807/three-petrol-shipments-expected-on-monday-petroleum-minister, 08 Mar 2026]
#3715
In which sector of Islamabad were the Aurat March activists detained by the police on March 8, 2026?
(a) Sector F-7
(b) Sector G-7
(c) Sector I-8
(d) Sector F-6
Explanation: The activists were detained near the Super Market located in Sector F-6. Other sectors listed are common residential or commercial areas in Islamabad but were not the site of this specific police action. [Source: https://www.dawn.com/news/1979796/dozens-of-aurat-march-activists-participants-detained-by-police-in-islamabad-ahead-of-international-womens-day-rally, 08 Mar 2026]
#3716
Which of the following statements regarding the edible oil supply situation in March 2026 is INCORRECT?
(a) The PVMA claims that domestic stocks are sufficient for two months.
(b) The government has imposed a total ban on all edible oil imports.
(c) Local manufacturers currently possess ample supplies of raw materials.
(d) Ongoing import consignments are currently in transit to Pakistan.
Explanation: The statement regarding a total ban on imports is false, as the industry is actively receiving and expecting new consignments to maintain market stability. The other three statements accurately reflect the information provided by the PVMA. [Source: https://www.dawn.com/news/1980381/no-shortage-of-edible-oil-pvma, 10 Mar 2026]
#3717
Consider the following statements about the fuel management strategy discussed in March 2026: 1. The government is developing a joint dashboard to monitor fuel reserves across provinces. 2. The Punjab Enforcement and Regulatory Authority has been tasked with monitoring the fuel supply situation. 3. The government has successfully secured a permanent exemption from the petroleum levy from the IMF. 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 administrative measures taken to monitor reserves and enforce regulations. Statement 3 is incorrect because the government is only planning to request relief, not that it has already secured a permanent exemption. [Source: https://www.dawn.com/news/1979807/three-petrol-shipments-expected-on-monday-petroleum-minister, 08 Mar 2026]
#3718
The government decided in principle to implement which of the following for petroleum prices effective from March 8, 2026?
(a) Monthly revisions
(b) Quarterly revisions
(c) Weekly revisions
(d) Annual revisions
Explanation: To better manage the volatility of international oil prices, the government decided to shift to weekly revisions of petroleum prices. This allows for more frequent adjustments in line with global market fluctuations. [Source: https://www.dawn.com/news/1979860/pm-shehbaz-to-announce-austerity-plan-tomorrow-amid-global-fuel-crisis, 08 Mar 2026]
#3719
What was the reported increase in the price of petroleum products announced by the government on March 6, 2026?
(a) Rs 55 per litre
(b) Rs 45 per litre
(c) Rs 35 per litre
(d) Rs 65 per litre
Explanation: The government officially announced a price hike of Rs 55 per litre for petroleum products to manage the regional energy crisis. This figure is a specific data point provided in the official government communication. [Source: https://www.dawn.com/news/1979860/pm-shehbaz-to-announce-austerity-plan-tomorrow-amid-global-fuel-crisis, 08 Mar 2026]
#3720
On March 8, 2026, the Prime Minister's Office announced that the government would unveil an austerity plan in response to a crisis caused by which of the following?
(a) US/Israel-Iran war
(b) Global wheat shortage
(c) Regional monsoon flooding
(d) None of these
Explanation: The government cited the global fuel crisis resulting from the US/Israel-Iran war as the primary driver for the proposed austerity measures. Other options are unrelated to the specific energy-focused policy announcement. [Source: https://www.dawn.com/news/1979860/pm-shehbaz-to-announce-austerity-plan-tomorrow-amid-global-fuel-crisis, 08 Mar 2026]