February 2026 Current Affairs MCQs & Solutions

Explanation: The petition filed by the power companies aims to recover an additional Rs15.7 billion from consumers across all power utilities, including ex-Wapda Discos and K-Electric, to offset the higher fuel costs. [Source: https://www.dawn.com/news/2016204/power-companies-seek-rs120-per-unit-fuel-cost-adjustment-for-august, 17 Jul 2026]

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: 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: 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 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]

Explanation: The notification explicitly states that the new allowance will not count towards pension, gratuity, or house rent calculations. Therefore, the statement claiming it counts towards these benefits is incorrect. [Source: https://www.brecorder.com/news/40431195/salary-increase-notified-govt-issues-revised-bps-2026-for-civil-servants, 22 Jul 2026]

Explanation: Statement 1 is correct as the notification covers both civil and defence estimates. Statement 3 is correct as the 2022 and 2025 allowances were merged and abolished. Statement 2 is incorrect because employees posted abroad are explicitly excluded from receiving the allowance during their foreign posting. [Source: https://www.brecorder.com/news/40431195/salary-increase-notified-govt-issues-revised-bps-2026-for-civil-servants, 22 Jul 2026]

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]

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]

Explanation: Electricity consumption in June 2026 was 13,066 billion units, which is lower than the 13,310 billion units recorded in June 2025. Therefore, the statement claiming consumption was higher is incorrect. [Source: https://www.dawn.com/news/2016204/power-companies-seek-rs120-per-unit-fuel-cost-adjustment-for-august, 17 Jul 2026]

Explanation: Hydropower provided 39% of the total electricity supply in June 2026, making it the largest contributor. Nuclear power followed at 13.5%, while other sources like wind and solar contributed significantly smaller percentages. [Source: https://www.dawn.com/news/2016204/power-companies-seek-rs120-per-unit-fuel-cost-adjustment-for-august, 17 Jul 2026]

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]

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]

Explanation: Statement 1 is correct as the investment aims to boost industry and jobs. Statement 2 is correct as Amjad Rasheed accompanied the delegation. Statement 3 is incorrect because the $2.6 billion manufacturing investment is significantly larger than the $14 million mineral sector investment. [Source: https://www.dawn.com/news/1980763/chinese-firms-plan-to-invest-26bn-in-balochistan, 11 Mar 2026]

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]

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]

Explanation: Statement 1 is accurate as JazzCash is facilitating digital disbursements for the Rahmat Card. Statement 2 is incorrect because the FBR's tax expansion is explicitly linked to IMF requirements. Statement 3 is incorrect as the current discourse critiques the reliance on GDP by emphasizing that it fails to capture actual household welfare. Statement 4 is accurate as the 2026 Henley Index explicitly ranks the Pakistani passport as the fourth weakest globally. [Source: https://www.brecorder.com/news/40432278/jazzcash-begins-rahmat-card-digital-disbursements]