January 2026 Edition
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January 2026 Current Affairs MCQs & Solutions
Top national & international current affairs questions for CSS, PMS, FPSC, PPSC, and NTS screening tests.
#13581
Which geopolitical conflict was cited as a potential cause for supply chain disruptions affecting edible oil imports in March 2026?
(a) Russia-Ukraine conflict
(b) Israel-Palestine conflict
(c) US-Iran conflict
(d) China-Taiwan tensions
Explanation: The PVMA identified the US-Iran conflict as the primary source of regional geopolitical tension impacting maritime supply routes. While other conflicts exist, this specific event was the focus of the industry's supply chain assessment. [Source: https://www.dawn.com/news/1980381/no-shortage-of-edible-oil-pvma, 10 Mar 2026]
#13582
What is the total amount the government spent on fuel subsidies over the month preceding the April 11, 2026, announcement?
(a) Rs129 billion
(b) Rs107 billion
(c) Rs81 billion
(d) Rs385 billion
Explanation: The Prime Minister noted that the government had spent Rs129 billion on fuel subsidies over the past month. The other figures refer to tax components or the final price of fuel. [Source: https://www.dawn.com/news/1990666/diesel-price-cut-by-rs135-petrol-sees-drop-of-rs12, 11 Apr 2026]
#13583
The ex-depot price of petrol was fixed at which of the following rates on April 11, 2026?
(a) Rs450.15 per litre
(b) Rs385.54 per litre
(c) Rs366.58 per litre
(d) Rs369.72 per litre
Explanation: Following the Rs12 reduction, the new price for petrol was fixed at Rs366.58 per litre. The other values correspond to the new prices for HSD, kerosene, and light diesel oil. [Source: https://www.dawn.com/news/1990666/diesel-price-cut-by-rs135-petrol-sees-drop-of-rs12, 11 Apr 2026]
#13584
Consider the following statements about the 2026 petroleum pricing negotiations: 1. The government proposed a daily pricing mechanism based on a seven-day rolling average. 2. The APPPOA and the PPDA are the same organization representing petrol pump owners. 3. OGRA sought seven days to convey dealer concerns to the government. 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 government proposed a seven-day rolling average for daily pricing. Statement 2 is incorrect because the APPPOA and PPDA are distinct associations. Statement 3 is correct as OGRA requested time to relay the dealers' input to the government. [Source: https://www.dawn.com/news/2017314/petrol-pump-owners-announce-nationwide-strike-after-talks-over-daily-pricing-fail, 21 Jul 2026]
#13585
Consider the following statements about the fuel price revision on April 11, 2026: 1. The reduction in diesel prices was partially attributed to a correction in the pricing formula that previously benefited local refineries. 2. High-speed diesel is considered an inflationary item due to its extensive use in freight transportation. 3. The government reduced the petroleum levy on petrol to provide immediate relief to consumers. 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 pricing formula correction and the inflationary nature of diesel. Statement 3 is incorrect because the government explicitly stated that tax rates, including the petroleum levy, were kept unchanged. [Source: https://www.dawn.com/news/1990666/diesel-price-cut-by-rs135-petrol-sees-drop-of-rs12, 11 Apr 2026]
#13586
Consider the following statements about the KP budget session held on June 25, 2026: 1. The opposition leader criticized the government for bulldozing cut motions. 2. The provincial government announced it would provide additional funds to the federal government. 3. The Chief Minister stated that the province would invest in merged districts from its own 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 opposition leader complained about the process. Statement 2 is incorrect because the CM explicitly stated the government would not provide additional funds to the Centre. Statement 3 is correct as the CM confirmed self-reliance for the merged districts. [Source: https://www.dawn.com/news/2010593/cm-afridi-vows-peace-in-fy27-as-kp-assembly-passes-rs217tr-budget, 24 Jun 2026]
#13587
What was the performance of energy shares on the Australian market on July 27, 2026?
(a) They rose by 3.3%
(b) They remained unchanged
(c) They slid by 3.3%
(d) None of these
Explanation: Energy shares declined by as much as 3.3% on July 27, 2026, marking their worst session since June 17, 2026, due to falling oil prices. [Source: https://www.brecorder.com/news/40431982/australian-shares-rise-nearly-1-as-middle-east-de-escalation-boosts-sentiment, 27 Jul 2026]
#13588
Consider the following statements regarding the global oil market situation in March 2026: 1. Crude benchmarks had surged to their highest levels since 2022 prior to the price plunge. 2. The US administration expressed concerns that high energy prices could negatively impact consumer sentiment before midterm elections. 3. Market analysts suggested that the initial price surge was an overreaction to the upside, while the subsequent plunge was an overreaction to the downside. 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 market conditions and expert commentary provided in the report. The surge to 2022 levels, the political sensitivity of energy prices, and the assessment of market overreaction are all verified components of the event. [Source: https://www.dawn.com/news/1980727/oil-plunges-15pc-amid-hopes-of-de-escalation, 11 Mar 2026]
#13589
Following the price adjustment announced on July 21, 2026, what is the new price of petrol per litre?
(a) Rs458.41
(b) Rs367.21
(c) Rs320.73
(d) Rs520.35
Explanation: The price of petrol was set at Rs320.73 per litre following the increase. The other figures represent historical peaks or the current price of diesel. [Source: https://www.dawn.com/news/2017311/govt-increases-petrol-price-by-rs493-diesel-by-rs715-per-litre, 21 Jul 2026]
#13590
Consider the following statements about the fuel price update of July 2026: 1. The new fuel prices became applicable on July 22, 2026. 2. The price of petrol was increased by a higher margin than the price of high-speed diesel. 3. The government cited renewed regional hostilities in the Persian Gulf as a reason for the price hike. 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 notification specified July 22 as the effective date. Statement 3 is correct as the government cited Persian Gulf hostilities. Statement 2 is incorrect because petrol increased by Rs4.93, which is less than the Rs7.15 increase for diesel. [Source: https://www.dawn.com/news/2017311/govt-increases-petrol-price-by-rs493-diesel-by-rs715-per-litre, 21 Jul 2026]
#13591
Which of the following statements regarding the fuel pricing policy as of July 2026 is INCORRECT?
(a) The government shifted from weekly to daily fuel price revisions.
(b) The government has mandated that fuel prices remain fixed for a period of six months.
(c) The price adjustments were influenced by regional hostilities in the Persian Gulf.
(d) The All Pakistan Dealers Association has expressed opposition to the daily pricing mechanism.
Explanation: The government has moved to a daily pricing mechanism to account for market volatility, making the claim of a six-month fixed price period factually incorrect. The other options accurately describe the current policy and the reaction of stakeholders. [Source: https://www.dawn.com/news/2017311/govt-increases-petrol-price-by-rs493-diesel-by-rs715-per-litre, 21 Jul 2026]
#13592
Which of the following statements regarding the FTO ruling on July 21, 2026, is INCORRECT?
(a) The FTO held that the FBR is duty-bound to provide a functional interface for taxpayers.
(b) The complainant was a salaried individual serving as a director in a private limited company.
(c) The FBR successfully argued that software limitations are a valid legal defense against tax credit claims.
(d) The FTO found that the department's silence on the matter constituted maladministration.
Explanation: The FTO explicitly rejected the FBR's attempt to use software limitations as a shield. Therefore, the statement that the FBR successfully used this as a legal defense is false. [Source: https://www.dawn.com/news/2017155/fbr-cannot-hide-behind-software-limitations-federal-tax-ombudsman, 21 Jul 2026]
#13593
What is the primary reason cited for the anticipated disruptions in the supply chain of petroleum products in March 2026?
(a) Domestic refinery maintenance
(b) Middle East crisis
(c) Port congestion at Karachi
(d) Pipeline sabotage
Explanation: The notification explicitly links the anticipated disruptions to the Middle East crisis and the resulting logistical challenges in the Strait of Hormuz. Other options like refinery maintenance or port congestion are not the stated causes for this specific policy shift. [Source: https://www.dawn.com/news/1979478/kp-finance-dept-orders-adoption-of-fuel-conservation-measures-due-to-anticipated-disruptions, 07 Mar 2026]
#13594
What was the policy interest rate maintained by the State Bank of Pakistan as of March 10, 2026?
(a) 8.5 percent
(b) 9.5 percent
(c) 10.5 percent
(d) 11.5 percent
Explanation: The State Bank of Pakistan's monetary policy committee decided to keep the interest rate at 10.5 percent in March 2026. This rate was maintained despite calls from the business community for a reduction to support industrial growth. [Source: https://www.dawn.com/news/1980387/high-interest-rate-to-hit-economy-in-war-times-warn-businesses, 10 Mar 2026]
#13595
Which of the following statements regarding Pakistan's external debt management in April 2026 is INCORRECT?
(a) Pakistan repaid a $1.3 billion Eurobond on April 8, 2026.
(b) Pakistan returned $2 billion to the United Arab Emirates.
(c) Saudi Arabia reduced its support facility for Pakistan to $2 billion.
(d) The government is utilizing the Global Medium-Term Note (GMTN) programme.
Explanation: Saudi Arabia actually increased its support facility for Pakistan to $8 billion from $5 billion, rather than reducing it. The other statements accurately reflect the debt repayment and financing activities reported in April 2026. [Source: https://www.dawn.com/news/1993495/pakistan-increases-eurobond-from-500m-to-750m, 20 Apr 2026]
#13596
Consider the following statements about the Eurobond issuance in April 2026: 1. It marked Pakistan's first return to international capital markets in four years. 2. The issuance was exclusively funded by domestic commercial banks. 3. The government intends to use the momentum to support future issuances under the GMTN programme. 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 issuance ended a four-year hiatus. Statement 2 is incorrect because the bonds were placed with global institutional investors, not domestic banks. Statement 3 is correct as the government explicitly stated the issuance builds momentum for future GMTN activity. [Source: https://www.dawn.com/news/1993495/pakistan-increases-eurobond-from-500m-to-750m, 20 Apr 2026]
#13597
Which of the following is NOT a stated objective or component of the government's response to the 2026 fuel crisis?
(a) Providing relief to the masses once the situation stabilizes
(b) Ensuring the elite class sets an example of austerity
(c) Maintaining adequate reserves of petrol and diesel
(d) Immediate cessation of all international oil imports
Explanation: The government confirmed that the country has adequate reserves and is managing the crisis through conservation and price adjustments, not by ceasing all imports. The other options are explicitly mentioned as government policy goals. [Source: https://www.dawn.com/news/1979860/pm-shehbaz-to-announce-austerity-plan-tomorrow-amid-global-fuel-crisis, 08 Mar 2026]
#13598
On May 10, 2026, which Pakistani official was specifically commended by the Prime Minister for his dedication to the mediation efforts between the US and Iran?
(a) Ishaq Dar
(b) Tahir Andrabi
(c) Asim Munir
(d) None of these
Explanation: Prime Minister Shehbaz Sharif explicitly congratulated Field Marshal Asim Munir for his dedication to the mediation cause. While Ishaq Dar was also commended, the Prime Minister's specific mention of the Field Marshal's dedication highlights his central role in the military-diplomatic coordination. [Source: https://www.dawn.com/news/1999181/tehran-sends-response-to-us-peace-proposal-via-pakistan, 10 May 2026]
#13599
Which provincial government department issued the directive for fuel conservation measures on March 7, 2026?
(a) Planning and Development Department
(b) Finance Department
(c) Local Government Department
(d) None of these
Explanation: The Khyber Pakhtunkhwa Finance Department issued the notification on March 7, 2026, to ensure the judicious use of petroleum products. Other departments like Planning or Local Government were not the primary issuers of this specific austerity directive. [Source: https://www.dawn.com/news/1979478/kp-finance-dept-orders-adoption-of-fuel-conservation-measures-due-to-anticipated-disruptions, 07 Mar 2026]
#13600
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]