May 2024 Edition
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May 2024 Current Affairs MCQs & Solutions
Top national & international current affairs questions for CSS, PMS, FPSC, PPSC, and NTS screening tests.
#2261
Which regulatory body issued the notification regarding the reduction in the price of kerosene on May 29, 2026?
(a) State Bank of Pakistan
(b) Federal Board of Revenue
(c) Oil and Gas Regulatory Authority
(d) None of these
Explanation: The Oil and Gas Regulatory Authority (OGRA) is the designated body responsible for issuing notifications regarding petroleum product price changes in Pakistan. The State Bank and FBR do not manage retail fuel price notifications. [Source: https://www.dawn.com/news/2003697/govt-cuts-petrol-diesel-prices-by-rs22, 29 May 2026]
#2262
Following the price adjustment announced on May 22, 2026, what is the new price of petrol per litre?
(a) Rs378.00
(b) Rs402.78
(c) Rs403.78
(d) None of these
Explanation: After the reduction of Rs6 per litre, the price of petrol was set at Rs403.78 per litre. High-speed diesel was set at Rs402.78 per litre. [Source: https://www.dawn.com/news/2002321/govt-reduces-petrol-by-rs6-per-litre-high-speed-diesel-by-rs68, 22 May 2026]
#2263
Consider the following statements about the fuel price situation in 2026: 1. The government reduced petrol prices for two consecutive weeks in May 2026. 2. The global fuel crunch was exacerbated by the conflict involving Iran. 3. The Petroleum Minister announced an increase in fuel prices on April 2, 2026. 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 based on the provided information regarding the 2026 fuel price trends and the geopolitical context of the energy crisis. [Source: https://www.dawn.com/news/2002321/govt-reduces-petrol-by-rs6-per-litre-high-speed-diesel-by-rs68, 22 May 2026]
#2264
On May 14, 2026, where did the PPP Chairman chair a parliamentary party meeting?
(a) Aiwan-i-Sadr
(b) Parliament House
(c) Prime Minister House
(d) None of these
Explanation: Bilawal Bhutto-Zardari held the parliamentary party meeting at the Parliament House in Islamabad on May 14, 2026. Aiwan-i-Sadr is the official residence of the President and was not the venue for this specific party meeting. [Source: https://www.dawn.com/news/2000262/govt-has-not-contacted-ppp-over-any-constitutional-amendment-bilawal, 14 May 2026]
#2265
Consider the following statements regarding the economic outlook as of June 2026: 1. The primary balance surplus for FY26 was estimated at 2.5 percent of GDP. 2. The MPC is targeting a primary balance surplus of 2 percent of GDP for FY27. 3. Headline inflation remained in single digits throughout April and May 2026. 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 fiscal consolidation targets and estimates provided by the MPC. Statement 3 is incorrect because headline inflation rose to double digits in April and May 2026, not single digits. [Source: https://www.dawn.com/news/2008043/central-bank-keeps-policy-rate-unchanged-at-115pc, 15 Jun 2026]
#2266
Consider the following statements about the fuel price adjustments announced on May 29, 2026: 1. The government reduced the price of petrol and high-speed diesel by Rs22 per litre each. 2. The new prices for petrol and high-speed diesel were scheduled to take effect on May 30, 2026. 3. The government has been providing fuel subsidies specifically for public transport and motorcycle commuters. 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 government's announcement. The price cut was Rs22, the effective date was May 30, and the government confirmed existing subsidy programs for public transport and two-wheelers. [Source: https://www.dawn.com/news/2003697/govt-cuts-petrol-diesel-prices-by-rs22, 29 May 2026]
#2267
Which regulatory body issued the notification regarding the reduction in the price of kerosene on May 29, 2026?
(a) State Bank of Pakistan
(b) Federal Board of Revenue
(c) Oil and Gas Regulatory Authority
(d) None of these
Explanation: The Oil and Gas Regulatory Authority (OGRA) is the designated body responsible for issuing notifications regarding petroleum product price changes in Pakistan. The State Bank and FBR do not manage retail fuel price notifications. [Source: https://www.dawn.com/news/2003697/govt-cuts-petrol-diesel-prices-by-rs22, 29 May 2026]
#2268
Which of the following statements regarding the May 2026 fuel price reduction is INCORRECT?
(a) The price of petrol was reduced by Rs22 per litre.
(b) The price of kerosene remained unchanged at its previous level.
(c) The price of high-speed diesel was reduced by Rs22 per litre.
(d) The Prime Minister's Office announced the relief measures.
Explanation: The statement that kerosene prices remained unchanged is incorrect, as the Oil and Gas Regulatory Authority explicitly reduced the price of kerosene from Rs313.44 to Rs272. [Source: https://www.dawn.com/news/2003697/govt-cuts-petrol-diesel-prices-by-rs22, 29 May 2026]
#2269
Following the price adjustment effective from May 9, 2026, what is the new price of petrol per litre in Pakistan?
(a) Rs378.00
(b) Rs414.78
(c) Rs414.58
(d) None of these
Explanation: The government increased the price of petrol by Rs14.92, bringing the total to Rs414.78 per litre. Option C represents the price of high-speed diesel, while option A refers to a previous price point. [Source: https://www.dawn.com/news/1998722/govt-hikes-petrol-by-rs1492-per-litre-diesel-by-rs15, 08 May 2026]
#2270
Consider the following statements about the Cockroach Janta Party (CJP) movement: 1. The movement was launched in May 2026. 2. The movement initially focused exclusively on unemployment issues. 3. The movement organized protests in New Delhi near the Jantar Mantar site. 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 correct as the movement began in May 2026. Statement 2 is incorrect because the movement initially focused on exam paper leaks and judicial remarks, only later broadening its agenda to include unemployment. Statement 3 is correct as Jantar Mantar was the site of the march toward parliament. [Source: https://www.dawn.com/news/2018741/indias-cockroach-janta-party-demands-release-of-protesters-after-reports-of-detention, 27 Jul 2026]
#2271
Following the price revision on May 15, 2026, what is the new price of petrol per litre in Pakistan?
(a) Rs378.00
(b) Rs415.50
(c) Rs409.78
(d) Rs420.25
Explanation: According to the official notification, the price of petrol was set at Rs409.78 per litre following the Rs5 reduction. Rs378.00 was a previous price point mentioned in the context of earlier fiscal adjustments. [Source: https://www.dawn.com/news/2000498/govt-reduces-petrol-diesel-prices-by-rs5, 15 May 2026]
#2272
Consider the following statements about the current tomato supply chain in Pakistan: 1. The Balochistan crop is currently the primary source of domestic supply. 2. Iranian tomatoes are arriving in large quantities, exceeding 50 containers per day. 3. The tomato crop in Punjab and Khyber Pakhtunkhwa typically arrives in the May-June period. 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 correct as Balochistan is the current supplier. Statement 3 is correct regarding the seasonal arrival of crops in Punjab and KP. Statement 2 is incorrect because imports are arriving in very small quantities, averaging only 10 containers per day. [Source: https://www.dawn.com/news/2017429/iranian-tomatoes-fail-to-ease-prices, 22 Jul 2026]
#2273
What was the unemployment rate in the United States as of the May 2026 report?
(a) 4.3 percent
(b) 4.1 percent
(c) 3.8 percent
(d) 4.5 percent
Explanation: The unemployment rate remained firm at 4.3 percent according to the May 2026 data. This stability in the labor market contributed to the market's belief that the Federal Reserve would maintain a hawkish stance. [Source: https://www.dawn.com/news/2005508/wall-street-ends-sharply-lower-as-chips-slide-jobs-data-fuels-rate-hike-fears, 05 Jun 2026]
#2274
According to the Ministry of Finance, the current account recorded a surplus of how much during the period of July 2025 to May 2026?
(a) 155 million dollars
(b) 255 million dollars
(c) 355 million dollars
(d) None of these
Explanation: The external sector remained stable, with the current account recording a surplus of 255 million dollars during the Jul-May period of the 2026 fiscal year, supported by remittances and IT exports. [Source: https://www.dawn.com/news/2011978/govt-expects-easing-inflationary-pressure-in-new-fiscal-year-following-reopening-of-strait-of-hormuz, 30 Jun 2026]
#2275
Consider the following statements regarding the economic outlook as of June 2026: 1. The primary balance surplus for FY26 was estimated at 2.5 percent of GDP. 2. The MPC is targeting a primary balance surplus of 2 percent of GDP for FY27. 3. Headline inflation remained in single digits throughout April and May 2026. 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 fiscal consolidation targets and estimates provided by the MPC. Statement 3 is incorrect because headline inflation rose to double digits in April and May 2026, not single digits. [Source: https://www.dawn.com/news/2008043/central-bank-keeps-policy-rate-unchanged-at-115pc, 15 Jun 2026]
#2276
Consider the following statements about development loans in Pakistan: 1. The markup rate for 2025-26 is lower than the rate charged in 2024-25. 2. The federal government charges markup on loans to provincial governments as a source of revenue. 3. Foreign re-lent loans are advanced by the federal government out of its own domestic resources. 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 correct as the rate dropped from 17.74 percent to 11.89 percent. Statement 2 is correct as markup on these loans is a key revenue stream. Statement 3 is incorrect because cash development loans are funded from domestic resources, while foreign re-lent loans are sourced from international lenders. [Source: https://www.dawn.com/news/2018194/centre-cuts-markup-on-uplift-loans-to-1189pc, 24 Jul 2026]
#2277
Arrange the following major international and regional developments in the correct chronological order of their reported occurrences or scheduling (earliest to latest): 1. The 11th Pakistan Banking Awards. 2. The 2024 uprising in Bangladesh leading to the current political climate for Sheikh Hasina. 3. The reported monsoon-related fatalities in India reaching over 100 on August 6, 2026. 4. The legislative advancement of a conditional amnesty bill for PKK fighters in Turkey.
(a) 2, 3, 4, 1
(b) 3, 2, 4, 1
(c) 2, 1, 3, 4
(d) 4, 2, 3, 1
Explanation: The sequence is determined by the 2024 Bangladesh uprising, followed by the specific disaster reports from India (August 6, 2026), the legislative action in Turkey (August 6, 2026), and finally the scheduled Pakistan Banking Awards (August 21, 2026). [Source: https://www.dawn.com/news/2020870/floods-landslides-leave-over-100-dead-as-monsoon-batters-india]
#2278
What was the unemployment rate in the United States as of the May 2026 report?
(a) 4.3 percent
(b) 4.1 percent
(c) 3.8 percent
(d) 4.5 percent
Explanation: The unemployment rate remained firm at 4.3 percent according to the May 2026 data. This stability in the labor market contributed to the market's belief that the Federal Reserve would maintain a hawkish stance. [Source: https://www.dawn.com/news/2005508/wall-street-ends-sharply-lower-as-chips-slide-jobs-data-fuels-rate-hike-fears, 05 Jun 2026]
#2279
Who is the current Minister for Petroleum and Natural Gas in India as of May 2026?
(a) Nitin Gadkari
(b) Hardeep Singh Puri
(c) Piyush Goyal
(d) None of these
Explanation: Hardeep Singh Puri is identified as the Minister for Petroleum and Natural Gas who commented on the financial losses faced by oil marketing companies. The other names are prominent ministers but do not hold this specific portfolio. [Source: https://www.dawn.com/news/1999209/modi-urges-indians-to-reduce-petrol-diesel-consumption-amid-middle-east-war-disruption, 10 May 2026]
#2280
In May 2026, Pakistan LNG Limited rejected bids from which of the following companies?
(a) PetroChina and Vitol Bahrain
(b) BP Singapore and TotalEnergies
(c) OQ Trading and SOCAR Trading
(d) None of these
Explanation: PLL rejected the two lowest evaluated bids submitted by BP Singapore and TotalEnergies for the May 2026 delivery windows. Other companies like PetroChina and Vitol Bahrain also participated but were not the specific subjects of the rejection mentioned. [Source: https://www.dawn.com/news/1998447/pakistan-turns-down-two-lowest-evaluated-lng-bids, 07 May 2026]