February 2026 Edition
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February 2026 Current Affairs MCQs & Solutions
Top national & international current affairs questions for CSS, PMS, FPSC, PPSC, and NTS screening tests.
#661
Consider the following statements about the US equity market performance in June 2026: 1. The S&P 500 ended a nine-week winning streak on June 5, 2026. 2. S&P Global has confirmed that it will change eligibility requirements to allow SpaceX to enter the S&P 500 index immediately. 3. Chipmaker Marvell Technology is considered a contender for addition to the S&P 500 benchmark index. 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 S&P 500 ended its nine-week run. Statement 3 is correct as Marvell Technology is a contender for index inclusion. Statement 2 is incorrect because S&P Global explicitly stated it would not change eligibility requirements for its major indices. [Source: https://www.dawn.com/news/2005508/wall-street-ends-sharply-lower-as-chips-slide-jobs-data-fuels-rate-hike-fears, 05 Jun 2026]
#662
Who is the current Chairman of the Pakistan Virtual Assets Regulatory Authority (PVARA) as of 2026?
(a) Waqas Ghani
(b) Bilal bin Saqib
(c) Taqi Usmani
(d) None of these
Explanation: Bilal bin Saqib serves as the Chairman of the PVARA and is leading the dialogue with religious scholars regarding digital asset classification. Waqas Ghani is a research head at a brokerage firm, and Mufti Taqi Usmani is a prominent religious scholar. [Source: https://www.dawn.com/news/2015697/crypto-czar-asks-jamia-darul-uloom-to-distinguish-between-speculative-crypto-asset-backed-tokens, 15 Jul 2026]
#663
The Virtual Assets Act 2026 mandates that the licensing and supervision of virtual asset activities in Pakistan are the responsibility of which body?
(a) Securities and Exchange Commission of Pakistan
(b) Federal Board of Revenue
(c) State Bank of Pakistan
(d) Pakistan Virtual Assets Regulatory Authority
Explanation: The Virtual Assets Act 2026 explicitly designates the PVARA as the statutory authority for the regulation and oversight of virtual assets. While the State Bank of Pakistan is involved in policy changes, the specific regulatory mandate belongs to the PVARA. [Source: https://www.dawn.com/news/1996695/pm-shehbaz-says-regulatory-system-for-virtual-assets-should-be-operationalised-at-the-earliest, 01 May 2026]
#664
Consider the following statements about the IMF-Pakistan economic program: 1. The staff-level agreement for the current disbursement was reached on March 27, 2026. 2. The primary surplus target for the FY26 budget is set at 1.6 percent. 3. The IMF program aims to ensure inflation remains within the State Bank of Pakistan's target range. 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 staff-level agreement date, the fiscal primary surplus target, and the inflation objectives set by the IMF and the State Bank of Pakistan. [Source: https://www.dawn.com/news/1995256/imf-executive-board-to-meet-on-may-8-to-approve-disbursement-of-over-12bn-to-pakistan, 26 Apr 2026]
#665
Which of the following is NOT a factor currently influencing global market sentiment as of 2026-04-29?
(a) Anticipation of a US Federal Reserve interest rate decision
(b) Expectations of immediate global nuclear disarmament
(c) Concerns regarding the blockade of the Strait of Hormuz
(d) Earnings updates from major technology firms
Explanation: The report focuses on energy security, monetary policy, and corporate earnings; it does not mention global nuclear disarmament as a current market driver. The other three options are explicitly identified as key factors affecting investor behavior. [Source: https://www.dawn.com/news/1996151/oil-spikes-while-stocks-slip-ahead-of-us-fed-rate-decision, 29 Apr 2026]
#666
Consider the following statements about the 2026 global economic outlook: 1. The World Bank projects that inflation in developing economies will be higher than previously expected before the conflict. 2. Urea prices are expected to jump by 60% in 2026. 3. Shipping through the Strait of Hormuz is expected to return to pre-war levels by early 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: Statement 1 is correct as inflation was revised upward by one percentage point. Statement 2 is correct regarding the 60% jump in urea. Statement 3 is incorrect because the baseline assumption is a return to pre-war levels by late 2026, not early 2026. [Source: https://www.dawn.com/news/1995842/energy-prices-expected-to-surge-24pc-reaching-highest-level-since-2022-russia-ukraine-war-world-bank-assessment, 28 Apr 2026]
#667
Which international benchmark oil contract reached $117.81 per barrel on 2026-04-29?
(a) West Texas Intermediate
(b) Dubai Crude
(c) Brent Crude
(d) None of these
Explanation: Brent crude is the international benchmark cited in the report as reaching $117.81 per barrel. West Texas Intermediate is a US-based benchmark and is not the contract mentioned in this context. [Source: https://www.dawn.com/news/1996151/oil-spikes-while-stocks-slip-ahead-of-us-fed-rate-decision, 29 Apr 2026]
#668
Which maritime chokepoint is identified as the primary source of concern for global oil supply disruptions as of 2026-04-29?
(a) Strait of Hormuz
(b) Strait of Malacca
(c) Suez Canal
(d) Bab-el-Mandeb Strait
Explanation: The Strait of Hormuz is a vital oil shipping route currently threatened by a potential blockade, which has caused Brent crude prices to spike. Other options are major maritime chokepoints but are not the focus of the current geopolitical tension described. [Source: https://www.dawn.com/news/1996151/oil-spikes-while-stocks-slip-ahead-of-us-fed-rate-decision, 29 Apr 2026]
#669
Consider the following statements about the current economic climate as of 2026-04-29: 1. Brent crude prices have surged due to geopolitical tensions in the Middle East. 2. The US Federal Reserve is expected to announce a significant reduction in interest rates. 3. Investors are scrutinizing the capital expenditure of major tech firms regarding artificial intelligence.
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) All three
Explanation: Statement 1 is correct as oil prices rose due to the blockade concerns. Statement 3 is correct as tech firm AI spending is a major focus. Statement 2 is incorrect because the report states the Fed is expected to keep interest rates unchanged, not reduce them. [Source: https://www.dawn.com/news/1996151/oil-spikes-while-stocks-slip-ahead-of-us-fed-rate-decision, 29 Apr 2026]
#670
Which of the following sectors was explicitly cited by the US administration as a reason for the discriminatory treatment leading to the 2026 tariffs?
(a) Aerospace components
(b) Pharmaceutical products
(c) Dairy goods
(d) Textile manufacturing
Explanation: The US administration identified dairy goods, along with alcohol and American-made cars, as sectors subject to discriminatory treatment by Canada, prompting the tariff response. [Source: https://www.dawn.com/news/2017209/us-imposes-new-50pc-tariffs-on-20bn-worth-of-canadian-products, 21 Jul 2026]
#671
All of the following are objectives or focus areas of the Finance Minister's visit to Washington in July 2026 EXCEPT:
(a) Discussing market access for Pakistani exports
(b) Exploring funding for infrastructure and energy projects
(c) Negotiating a broader economic partnership framework
(d) Finalizing a complete debt write-off for Pakistan
Explanation: The visit focused on trade, investment, and economic cooperation, including discussions on tariffs and project financing. There is no mention of a debt write-off, making it the incorrect statement among the options provided. [Source: https://www.dawn.com/news/2017217/us-technology-firm-proposes-refinery-modernisation-plan-for-pakistan-in-meeting-with-finance-minister, 21 Jul 2026]
#672
Consider the following statements about the US-Canada trade situation as of July 2026: 1. The US President invoked Section 338 to retaliate against what the administration termed discriminatory trade practices. 2. The tariffs apply to a diverse range of goods including wine, cement, and ice hockey gear. 3. The US Trade Representative is currently holding bilateral talks regarding the USMCA with Canadian officials in Mexico City. 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. Statement 3 is incorrect because the US Trade Representative is holding bilateral talks with Mexico, having pointedly left Canada out of those specific negotiations. [Source: https://www.dawn.com/news/2017209/us-imposes-new-50pc-tariffs-on-20bn-worth-of-canadian-products, 21 Jul 2026]
#673
According to the Pakistan Cotton Ginners Association (PCGA) report for the 2026-27 season, what was the total volume of seed cotton arrivals by July 15, 2026?
(a) 527,900 bales
(b) 445,779 bales
(c) 297,751 bales
(d) 466,925 bales
Explanation: The PCGA report confirmed that total seed cotton arrivals reached 527,900 bales by July 15, 2026. The figure 297,751 represents the arrivals from the previous year, while 445,779 represents the volume purchased by textile mills. [Source: https://www.dawn.com/news/2016601/early-cotton-arrivals-hit-record-527900-bales, 19 Jul 2026]
#674
What is the primary objective of the refinery modernization plan discussed by the Finance Minister in July 2026?
(a) To reduce reliance on imported petroleum products
(b) To increase the export of crude oil to the United States
(c) To privatize all state-owned oil marketing companies
(d) To establish a new pipeline network to Central Asia
Explanation: The modernization plan aims to enhance domestic refining capacity, which directly contributes to reducing the country's heavy reliance on imported petroleum products. This is a strategic move to improve energy security and stabilize the national economy. [Source: https://www.dawn.com/news/2017217/us-technology-firm-proposes-refinery-modernisation-plan-for-pakistan-in-meeting-with-finance-minister, 21 Jul 2026]
#675
Which US-based technology firm held a meeting with Finance Minister Muhammad Aurangzeb in July 2026 to discuss refinery modernization?
(a) General Electric
(b) Honeywell Technologies
(c) Caterpillar Inc.
(d) None of these
Explanation: The finance minister met with a delegation from Honeywell Technologies in Washington on July 20, 2026, to discuss upgrading Pakistan's refinery infrastructure. General Electric and Caterpillar are major industrial firms but were not the primary participants in this specific refinery modernization proposal. [Source: https://www.dawn.com/news/2017217/us-technology-firm-proposes-refinery-modernisation-plan-for-pakistan-in-meeting-with-finance-minister, 21 Jul 2026]
#676
What is the approximate total value of Canadian imports affected by the new US tariff measures announced in July 2026?
(a) 10 billion dollars
(b) 40 billion dollars
(c) 30 billion dollars
(d) 20 billion dollars
Explanation: The US Trade Representative's office confirmed that the new 50 percent tariffs apply to approximately 20 billion dollars worth of imports from Canada. [Source: https://www.dawn.com/news/2017209/us-imposes-new-50pc-tariffs-on-20bn-worth-of-canadian-products, 21 Jul 2026]
#677
During his previous visit in April 2026, Finance Minister Aurangzeb discussed Pakistan's plans to return to international capital markets using which financial instruments?
(a) Green Bonds and Samurai Bonds
(b) Sovereign Sukuk and Treasury Bills
(c) Panda Bonds and Eurobonds
(d) Development Loans and Grants
Explanation: The Finance Minister briefed investors on plans to re-enter international capital markets specifically through the issuance of Panda Bonds and Eurobonds. These instruments are intended to diversify Pakistan's external financing sources. [Source: https://www.dawn.com/news/2016679/finance-minister-aurangzeb-arrives-in-us-on-3-day-visit-expected-to-hold-talks-on-trade-finance-investment, 19 Jul 2026]
#678
Consider the following statements about the US-Pakistan trade negotiations as of July 2026: 1. Pakistan successfully negotiated a reduction in the initial IEEPA-based tariff from 29 per cent to 19 per cent in 2025. 2. The temporary global tariff of 10 per cent imposed under Section 122 is scheduled to expire on July 24, 2026. 3. India is currently facing a lower proposed tariff under Section 301 than Pakistan. 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 regarding the 2025 tariff reduction. Statement 2 is correct as the Section 122 tariff has a 150-day statutory limit expiring on July 24, 2026. Statement 3 is incorrect because India faces a 12.5% tariff, which is higher than Pakistan's 10%. [Source: https://www.dawn.com/news/2016679/finance-minister-aurangzeb-arrives-in-us-on-3-day-visit-expected-to-hold-talks-on-trade-finance-investment, 19 Jul 2026]
#679
On April 18, 2026, the State Bank of Pakistan confirmed the repayment of how much debt to the United Arab Emirates?
(a) $1.5 billion
(b) $3.5 billion
(c) $2 billion
(d) $5 billion
Explanation: The State Bank of Pakistan officially announced on April 18, 2026, that the government had successfully repaid $2 billion to the UAE. While the total loan amount sought by the UAE was $3.5 billion, the specific payment confirmed on this date was $2 billion. [Source: https://www.dawn.com/news/1993003/sbp-says-govt-has-paid-2bn-to-uae, 18 Apr 2026]
#680
Finance Minister Muhammad Aurangzeb arrived in Washington on July 19, 2026, for a visit lasting how many days?
(a) Three days
(b) Two days
(c) Four days
(d) Five days
Explanation: The Finance Minister arrived on July 19, 2026, for a scheduled three-day diplomatic visit to engage with US officials on trade and investment. This duration is explicitly stated in the official reporting of his itinerary. [Source: https://www.dawn.com/news/2016679/finance-minister-aurangzeb-arrives-in-us-on-3-day-visit-expected-to-hold-talks-on-trade-finance-investment, 19 Jul 2026]