August 2026 Current Affairs MCQs & Solutions

Explanation: The IMF requested the federal government to introduce at least Rs 430 billion in additional budgetary measures. A matching target of Rs 430 billion was also set for the provinces. [Source: https://www.dawn.com/news/2005897/ppp-shares-tax-related-reservations-in-pre-budget-meeting-with-dar-say-sources, 07 Jun 2026]

Explanation: The federal budget for FY2026-27 was officially scheduled for announcement on Wednesday, June 10, 2026. This date followed the final rounds of pre-budget negotiations between the coalition partners. [Source: https://www.dawn.com/news/2005897/ppp-shares-tax-related-reservations-in-pre-budget-meeting-with-dar-say-sources, 07 Jun 2026]

Explanation: US President Donald Trump announced the extension of the ceasefire with Iran on his Truth Social platform. While Pakistani leadership requested the extension, Trump was the one who made the official announcement. [Source: https://www.dawn.com/news/1993810/at-the-request-of-cdf-munir-pm-shehbaz-trump-announces-extension-in-ceasefire-until-iran-submits-proposal, 21 Apr 2026]

Explanation: The statement that the body was successfully retrieved is incorrect, as the retrieval failed due to the expiration of the deadline and administrative delays. The other statements are factually accurate. [Source: https://www.dawn.com/news/1981371/brief-pause-in-fighting-between-pak-afghan-forces-to-identify-retrieve-body-at-torkham, 12 Mar 2026]

Explanation: Operation Ghazab lil-Haq was initiated by Pakistan in response to unprovoked firing from across the border. The other options refer to historical or hypothetical military operations. [Source: https://www.dawn.com/news/1981371/brief-pause-in-fighting-between-pak-afghan-forces-to-identify-retrieve-body-at-torkham, 12 Mar 2026]

Explanation: The government has allocated a Rs389 billion emergency fund to mitigate the impact of rising global fuel prices on domestic consumers. Other options represent incorrect figures that do not align with the official fiscal planning mentioned. [Source: https://www.dawn.com/news/1981355/govt-mulling-not-hiking-prices-of-petroleum-products-further-despite-increase-in-global-market, 12 Mar 2026]

Explanation: PTI-backed MNA Shahid Khattak pointed out the lack of quorum to the Deputy Speaker. This action effectively halted the legislative proceedings on the bill. [Source: https://www.dawn.com/news/1981390/pointing-out-of-lack-of-quorum-in-na-opposition-blocks-passage-of-bill-seeking-to-upgrade-fc-to-federal-force, 12 Mar 2026]

Explanation: Official reports identified the attacker as a 63-year-old man. He claimed to have been planning the attack for approximately two decades. [Source: https://www.dawn.com/news/1981258/man-arrested-after-attempt-on-life-of-former-occupied-kashmir-cm-farooq-abdullah, 12 Mar 2026]

Explanation: The IMF statement highlighted fiscal consolidation, monetary policy, and energy sector reforms as key areas of progress. Immediate privatization of all state-owned enterprises is not listed as a specific focus area in the mission's end-of-mission statement. [Source: https://www.dawn.com/news/1981220/imf-mission-fails-to-reach-staff-level-agreement-with-pakistan-talks-to-continue, 12 Mar 2026]

Explanation: Statement 1 is correct as the suspect cited a twenty-year plan. Statement 2 is incorrect because Farooq Abdullah is a former Chief Minister, not the incumbent. Statement 3 is correct as the firearm was recovered from the suspect. [Source: https://www.dawn.com/news/1981258/man-arrested-after-attempt-on-life-of-former-occupied-kashmir-cm-farooq-abdullah, 12 Mar 2026]

Explanation: The IMF mission held discussions with Pakistani authorities in Karachi and Islamabad before moving to virtual meetings on March 3, 2026. Lahore was not a primary site for these specific mission meetings. [Source: https://www.dawn.com/news/1981220/imf-mission-fails-to-reach-staff-level-agreement-with-pakistan-talks-to-continue, 12 Mar 2026]

Explanation: Statement 1 is correct as cabinet members and technocrats are divided over the prime minister's directive. Statement 3 is correct as ministers defended previous hikes by referencing supply disruptions in neighboring countries. Statement 2 is incorrect because the Dubai-based pricing ($135/barrel) is currently higher than the Brent benchmark ($105/barrel). [Source: https://www.dawn.com/news/1981355/govt-mulling-not-hiking-prices-of-petroleum-products-further-despite-increase-in-global-market, 12 Mar 2026]

Explanation: The mission was specifically tasked with the third review of the $7 billion Extended Fund Facility (EFF) and the second review of the Resilience and Sustainability Facility (RSF). The SBA is a separate, distinct type of IMF arrangement. [Source: https://www.dawn.com/news/1981220/imf-mission-fails-to-reach-staff-level-agreement-with-pakistan-talks-to-continue, 12 Mar 2026]

Explanation: The statement regarding LNG imports is incorrect because Qatar declared force majeure on its processing facilities, leading to a suspension of LNG imports, not an increase. The other statements accurately reflect the government's current policy stance. [Source: https://www.dawn.com/news/1981355/govt-mulling-not-hiking-prices-of-petroleum-products-further-despite-increase-in-global-market, 12 Mar 2026]

Explanation: The IMF indicated that Pakistan would be eligible for around $200 million under the RSF upon the successful conclusion of the review. The $760 million figure refers to the Special Drawing Rights (SDR) equivalent for the EFF portion. [Source: https://www.dawn.com/news/1981220/imf-mission-fails-to-reach-staff-level-agreement-with-pakistan-talks-to-continue, 12 Mar 2026]

Explanation: Iva Petrova headed the IMF mission that conducted the review discussions with Pakistan in early 2026. Nathan Porter is a former mission chief, and Kristalina Georgieva is the Managing Director of the IMF. [Source: https://www.dawn.com/news/1981220/imf-mission-fails-to-reach-staff-level-agreement-with-pakistan-talks-to-continue, 12 Mar 2026]

Explanation: The government is finalizing legislation to meet structural benchmarks required for the successful conclusion of the IMF's Extended Fund Facility (EFF) and Resilience and Sustainability Facility (RSF) reviews. The World Bank and ADB are development partners, but the specific structural benchmark compliance mentioned is tied to the IMF. [Source: https://www.dawn.com/news/1980722/govt-to-table-soe-bills-for-imf-compliance, 11 Mar 2026]

Explanation: The incident took place at a wedding ceremony located in the Greater Kailash area of Jammu. While Royal Park is mentioned as the specific venue, Greater Kailash is the broader area identified in reports. [Source: https://www.dawn.com/news/1981258/man-arrested-after-attempt-on-life-of-former-occupied-kashmir-cm-farooq-abdullah, 12 Mar 2026]

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]

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]