August 2026 Current Affairs MCQs & Solutions

Explanation: Mobile phone imports grew by 27.84 percent to $1.444 billion during the first nine months of the fiscal year. The other percentages listed refer to specific valuation increases for individual phone models. [Source: https://www.dawn.com/news/1994373/customs-increases-import-valuation-for-62-old-and-used-mobile-phone-models, 23 Apr 2026]

Explanation: The official briefing highlighted that Pakistan's agricultural sector, specifically including meat, poultry, dairy, and seafood, possesses significant export potential. Textiles and IT were not the focus of this food-security-centric meeting. [Source: https://www.dawn.com/news/1982358/pm-shehbaz-directs-formulation-of-strategy-for-exporting-surplus-food-items-to-gulf-countries, 15 Mar 2026]

Explanation: The iPhone XS Max and iPhone SE 3 were identified as the most stable models, showing no change in their customs valuation between the two rulings. Other models experienced varying degrees of upward revision. [Source: https://www.dawn.com/news/1994373/customs-increases-import-valuation-for-62-old-and-used-mobile-phone-models, 23 Apr 2026]

Explanation: The 2026 ruling did not abolish the existing framework; rather, it preserved the earlier regulatory requirements concerning six-month activation, higher declared value, and freight adjustment. [Source: https://www.dawn.com/news/1994373/customs-increases-import-valuation-for-62-old-and-used-mobile-phone-models, 23 Apr 2026]

Explanation: Statement 1 is correct as the primary goal was market alignment. Statement 2 is correct as older Samsung and Pixel devices saw the steepest jumps. Statement 3 is incorrect because newer flagship models like the iPhone 15 Pro Max saw relatively moderate increases (9.78 percent) compared to the sharp spikes in older models. [Source: https://www.dawn.com/news/1994373/customs-increases-import-valuation-for-62-old-and-used-mobile-phone-models, 23 Apr 2026]

Explanation: The PIA spokesman confirmed that fuel costs surged by 34 percent due to the regional conflict. This increase directly necessitated the adjustment of fuel surcharges on domestic and international flights. [Source: https://www.dawn.com/news/1981330/pia-raises-fuel-surcharge-as-gulf-crisis-drives-up-costs, 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: All three statements are factually accurate based on the report. India's status as a major LNG buyer, the deployment of police in Bangladesh, and the reliance of the Indian restaurant sector on commercial LPG are all confirmed details. [Source: https://www.dawn.com/news/1980784/troops-guard-bangladesh-depots-after-oil-riots, 11 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 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 core objective is to foster indigenous knowledge and technological capabilities, ensuring that the technology is owned and continuously advanced within Pakistan rather than relying solely on imports. [Source: https://www.brecorder.com/news/40431277/pm-shehbaz-calls-for-national-innovation-ecosystem-to-advance-indigenous-robotics-technology, 22 Jul 2026]

Explanation: The government continues to prohibit foreign e-commerce companies from selling goods directly to domestic consumers to protect local brick-and-mortar retailers. Therefore, statement C is false. [Source: https://www.brecorder.com/news/40431461/india-relaxes-e-commerce-investment-rules-for-exports-in-win-for-amazon, 23 Jul 2026]

Explanation: All three statements are factually accurate based on the report. Brent crude reached nearly $99, the Strait of Hormuz is a focal point for supply disruption fears, and the 12% weekly rally is confirmed. [Source: https://www.brecorder.com/news/40431465/indian-bonds-fall-for-third-session-as-oil-prices-near-100-a-barrel, 23 Jul 2026]

Explanation: The decline in Indian shares was attributed to rising oil prices caused by geopolitical tensions in the Middle East. This surge in energy costs negatively impacted investor sentiment and global risk appetite. [Source: https://www.brecorder.com/news/40431442/indian-shares-extend-drop-on-oil-surge-infosys-indigo-results-awaited, 23 Jul 2026]

Explanation: The benchmark palm oil contract is traded on the Bursa Malaysia Derivatives Exchange. The Chicago Board of Trade and Dalian Commodity Exchange are relevant to rival oils like soyoil but are not the primary venue for the Malaysian palm oil contract mentioned. [Source: https://www.brecorder.com/news/40431446/palm-oil-hits-3-month-high-on-supply-risks-biodiesel-demand-prospects, 23 Jul 2026]

Explanation: Statement 1 is incorrect because the National Tariff Commission's anti-dumping investigation specifically concerns Chinese crockery imports, not agricultural machinery. Statement 2 accurately reflects the Federal Minister's focus on infrastructure maintenance via axle load enforcement to ensure economic stabilization. Statement 3 correctly identifies the ECP's refusal to recognize Mahmood Khan Achakzai, citing non-compliance with the Elections Act, 2017 regarding intra-party election mandates. [Source: https://www.brecorder.com/news/40432642/mechanism-to-ensure-adherence-to-axle-load-limits-ordered]

Explanation: Rising crude oil prices make palm oil a more attractive and competitive option for biodiesel feedstock. The other options do not align with the market conditions described regarding the shift toward biodiesel. [Source: https://www.brecorder.com/news/40431446/palm-oil-hits-3-month-high-on-supply-risks-biodiesel-demand-prospects, 23 Jul 2026]

Explanation: Statement 1 is correct as the indices logged their fourth straight session of losses. Statement 2 is incorrect because fifteen of the sixteen major sectors fell. Statement 3 is correct as analysts highlighted the $100 per barrel threshold as a critical risk factor. [Source: https://www.brecorder.com/news/40431442/indian-shares-extend-drop-on-oil-surge-infosys-indigo-results-awaited, 23 Jul 2026]

Explanation: Statement 1 is correct as palm oil competes with other vegetable oils. Statement 3 is correct as higher crude prices boost biodiesel demand. Statement 2 is incorrect because the Brazilian soybean crop is projected to fall by 2%, not increase. [Source: https://www.brecorder.com/news/40431446/palm-oil-hits-3-month-high-on-supply-risks-biodiesel-demand-prospects, 23 Jul 2026]

Explanation: India's imports are expected to rise because slower domestic crushing of soybean and rapeseed is eroding local supplies. This creates a need for imports to meet demand ahead of the festive season. [Source: https://www.brecorder.com/news/40431446/palm-oil-hits-3-month-high-on-supply-risks-biodiesel-demand-prospects, 23 Jul 2026]