July 2026 Edition
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July 2026 Current Affairs MCQs & Solutions
Top national & international current affairs questions for CSS, PMS, FPSC, PPSC, and NTS screening tests.
#281
Consider the following statements about the fuel pricing policy in Pakistan: 1. The government transitioned to a daily fuel pricing mechanism due to international market volatility. 2. The Petroleum Division announced that fuel prices would be fixed weekly starting from July 2026. 3. Regional hostilities in the Persian Gulf have been cited as a primary factor for the recent price fluctuations. 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 and 3 are correct as the government moved to a daily pricing mechanism due to regional hostilities. Statement 2 is incorrect because the government moved to a daily, not weekly, pricing mechanism. [Source: https://www.dawn.com/news/2017065/govt-decreases-petrol-price-by-rs035-increases-diesel-by-rs571-per-litre, 20 Jul 2026]
#282
Consider the following statements about the fuel price adjustment on July 3, 2026: 1. The price reduction was implemented to pass on the impact of lower global prices. 2. The government increased the petroleum levy, which prevented a larger decrease in fuel prices. 3. The ex-depot price of high-speed diesel was set at Rs309.50 per litre. 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. The price cut was a response to global trends, the levy increase mitigated a larger price drop, and the new HSD price was officially set at Rs309.50. [Source: https://www.dawn.com/news/2012738/govt-slashes-petrol-diesel-prices-by-rs197, 03 Jul 2026]
#283
The government cited which of the following as the primary cause for the global fuel crisis affecting Pakistan in 2026?
(a) Global supply chain disruptions
(b) US-Israeli war on Iran
(c) OPEC production cuts
(d) Regional trade embargoes
Explanation: The government attributed the skyrocketing oil prices and the resulting fuel crisis to the US-Israeli war on Iran, which commenced on February 28, 2026. Other options are not cited as the primary driver of this specific crisis. [Source: https://www.dawn.com/news/1988282/petrol-price-reduces-to-rs378-per-litre-as-govt-cuts-levy-by-rs80, 03 Apr 2026]
#284
Which of the following statements regarding the fuel tax structure in July 2026 is INCORRECT?
(a) The petroleum levy on diesel stands at approximately Rs80 per litre.
(b) The petroleum levy on petrol stands at approximately Rs70 per litre.
(c) The government reduced the climate support levy to zero to offset price hikes.
(d) The customs duty on petrol is Rs16 per litre.
Explanation: The government actually doubled the climate support levy to Rs5 per litre, not reduced it to zero. Options A, B, and C accurately reflect the tax components mentioned in the fiscal data. [Source: https://www.dawn.com/news/2012738/govt-slashes-petrol-diesel-prices-by-rs197, 03 Jul 2026]
#285
As part of the austerity measures announced on April 3, 2026, for how long will federal cabinet members not receive their salaries?
(a) Two months
(b) Four months
(c) Six months
(d) None of these
Explanation: The government extended the salary suspension for cabinet members from the previously planned two months to six months to address the ongoing fuel crunch. Option D is incorrect because the correct duration is explicitly stated as six months. [Source: https://www.dawn.com/news/1988282/petrol-price-reduces-to-rs378-per-litre-as-govt-cuts-levy-by-rs80, 03 Apr 2026]
#286
Which of the following statements regarding the government's fuel price adjustments on April 3, 2026, is INCORRECT?
(a) The petrol levy was reduced by Rs80 per litre.
(b) The new petrol price is set to remain unchanged for at least one month.
(c) The new petrol price is effective across the entire country.
(d) The government increased the levy on diesel to Rs55 per litre.
Explanation: The government actually reduced the levy on diesel to zero, not increased it to Rs55. The other statements accurately reflect the policy measures announced by the Prime Minister. [Source: https://www.dawn.com/news/1988282/petrol-price-reduces-to-rs378-per-litre-as-govt-cuts-levy-by-rs80, 03 Apr 2026]
#287
How much did the government spend from national resources over the three weeks prior to April 3, 2026, to cushion the impact of rising oil prices?
(a) Rs80 billion
(b) Rs105 billion
(c) Rs129 billion
(d) Rs160 billion
Explanation: The Prime Minister stated that the government utilized Rs129 billion from national resources to subsidize the impact of international oil price hikes during the three weeks preceding the announcement. The other figures represent different levy rates or adjustments mentioned in the context of the policy. [Source: https://www.dawn.com/news/1988282/petrol-price-reduces-to-rs378-per-litre-as-govt-cuts-levy-by-rs80, 03 Apr 2026]
#288
What was the approximate percentage increase in the price of kerosene announced in March 2026?
(a) 50 percent
(b) 60 percent
(c) 80 percent
(d) 70 percent
Explanation: The government increased the price of kerosene by Rs130.08 from a base of Rs188.73, which represents an increase of almost 70 percent. This was a significant adjustment compared to the previous monthly rates. [Source: https://www.dawn.com/news/1979534/govt-hikes-kerosene-price-by-rs130-to-rs31881-per-litre, 07 Mar 2026]
#289
Analyze the following statements regarding Pakistan's economic and governance indicators reported on August 11, 2026:
(a) Only 1 and 2 are correct
(b) Only 2 and 3 are correct
(c) Only 1 and 3 are correct
(d) All statements are correct
Explanation: Statement 1 is incorrect because the automotive sector experienced a 141% surge in sales, not a contraction. Statement 2 is correct regarding the Privitisation Commission's move to outsource major airports. Statement 3 is correct regarding the rise in external remittances to $3.6 billion in July. [Source: https://www.dawn.com/news/2022170/privatisation-commission-approves-financial-adviser-for-outsourcing-karachi-lahore-airports]
#290
Consider the following statements about the impact of rising fuel costs in March 2026: 1. Jet fuel accounts for 30-40% of airline operating expenses. 2. Domestic and international airfares have increased by 30-40% due to fuel costs. 3. The government has decided to permanently abolish the petroleum levy to provide 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 factually correct based on the report. Statement 3 is incorrect because the government has actually protected its petroleum levy targets despite the subsidies provided. [Source: https://www.dawn.com/news/1985067/govt-may-have-to-unfreeze-fuel-prices-amid-global-surge, 25 Mar 2026]
#291
The IMF executive board meeting scheduled for May 8, 2026, is expected to approve a disbursement of approximately how much for Pakistan?
(a) $5.0 billion
(b) $2.5 billion
(c) $3.0 billion
(d) $1.2 billion
Explanation: The IMF board meeting in May 2026 is convened to approve a disbursement of more than $1.2 billion. This is a critical component of the ongoing structural adjustment program. [Source: https://www.dawn.com/news/1996451/govt-hikes-petrol-price-by-rs6-diesel-by-rs19, 30 Apr 2026]
#292
Which of the following is NOT a US institution that the Finance Minister is scheduled to engage with during his July 2026 visit?
(a) Federal Bureau of Investigation (FBI)
(b) US International Development Finance Corporation (DFC)
(c) US Export-Import (Exim) Bank
(d) International Monetary Fund (IMF)
Explanation: The Finance Minister's visit focuses on economic and financial institutions; the FBI is a law enforcement agency and is not involved in trade or tariff negotiations. The other three organizations are explicitly mentioned as part of the official itinerary. [Source: https://www.dawn.com/news/2016143/finance-minister-to-visit-washington-for-trade-tariff-talks-with-us, 17 Jul 2026]
#293
Which of the following statements regarding the fuel price adjustment announced on April 30, 2026, is INCORRECT?
(a) The price of petrol was increased by Rs6.51 per litre.
(b) The Petroleum Division confirmed that petrol stations would close from May 1 to May 5.
(c) The new prices were scheduled to become effective from May 1, 2026.
(d) The government aims to keep the primary balance target sacrosanct.
Explanation: The Petroleum Division and the All Pakistan Petrol Pump Owners Association explicitly refuted reports of petrol station closures or strikes. Options A, B, and D are factually accurate statements. [Source: https://www.dawn.com/news/1996451/govt-hikes-petrol-price-by-rs6-diesel-by-rs19, 30 Apr 2026]
#294
Consider the following statements about the government's economic response to the 2026 fuel crisis: 1. The government previously rejected multiple recommendations to increase fuel prices in March 2026. 2. The price of high-speed diesel was adjusted to Rs520.35 per litre. 3. The Prime Minister consulted the entire cabinet before finalizing the decision to suspend salaries for six months. 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 factually correct based on the government's announcements. Statement 3 is incorrect because the Prime Minister explicitly stated he was unable to consult the cabinet members due to the haste of the decision. [Source: https://www.dawn.com/news/1988282/petrol-price-reduces-to-rs378-per-litre-as-govt-cuts-levy-by-rs80, 03 Apr 2026]
#295
Who is the current Finance Minister of Pakistan leading the trade and tariff negotiations in Washington as of July 2026?
(a) Muhammad Aurangzeb
(b) Ishaq Dar
(c) Shaukat Tarin
(d) None of these
Explanation: Muhammad Aurangzeb is the serving Finance Minister who traveled to Washington in July 2026 to engage with US officials regarding trade agreements and tariff structures. The other individuals listed are former finance ministers. [Source: https://www.dawn.com/news/2016143/finance-minister-to-visit-washington-for-trade-tariff-talks-with-us, 17 Jul 2026]
#296
Which political leader met with Prime Minister Shehbaz Sharif on June 13, 2026, following parliamentary debates?
(a) Asad Qaiser
(b) Amir Dogar
(c) Ahsan Iqbal
(d) Mehmood Khan Achakzai
Explanation: Mehmood Khan Achakzai, the Opposition Leader, held a meeting with Prime Minister Shehbaz Sharif on the Saturday preceding the June 14, 2026, report. The other individuals mentioned are active participants in the National Assembly debates but were not the primary interlocutors in this specific meeting. [Source: https://www.dawn.com/news/2007773/info-minister-invites-opposition-to-sign-charter-of-economy-defends-proposed-fy27-budget, 14 Jun 2026]
#297
Which of the following statements regarding the Senate debate on June 17, 2026, is INCORRECT?
(a) Senator Rana Mahmoodul Hassan demanded a separate South Punjab province.
(b) Senator Agha Shahzeb Durrani praised the PTI government's handling of the FBR.
(c) Senator Abid Sher Ali defended the current government's economic management.
(d) Senator Abdul Qadir criticized the influence of Independent Power Producers.
Explanation: Senator Agha Shahzeb Durrani actually alleged that the PTI had posted corrupt officers to the FBR, which the current government subsequently removed. Therefore, the statement that he praised the PTI's handling of the FBR is incorrect. [Source: https://www.dawn.com/news/2008601/ppp-lawmaker-calls-for-separate-south-punjab-province-in-senate, 17 Jun 2026]
#298
What is the total amount of debt Pakistan has decided to return to the United Arab Emirates by the end of April 2026?
(a) $2.0 billion
(b) $12.5 billion
(c) $5.0 billion
(d) $3.5 billion
Explanation: The government announced the return of $3.5 billion in deposits to the UAE. This amount was part of the financial support provided in 2019 to stabilize the balance of payments. [Source: https://www.dawn.com/news/1988321/pakistan-to-return-35bn-uae-debt-before-month-end-official, 03 Apr 2026]
#299
Consider the following statements about the 2026 fuel price developments: 1. The global fuel crisis is partially attributed to the closure of the Strait of Hormuz. 2. The government has decided to cut public sector development programs to protect the primary balance target. 3. The All Pakistan Petrol Pump Owners Association supported the strike calls for May 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 the Strait of Hormuz closure is a factor in the global fuel crisis. Statement 2 is correct as the government indicated that further cuts to development programs might be required to meet the primary balance. Statement 3 is incorrect because the association explicitly refuted the strike rumors. [Source: https://www.dawn.com/news/1996451/govt-hikes-petrol-price-by-rs6-diesel-by-rs19, 30 Apr 2026]
#300
Which of the following statements regarding the government's subsidy initiatives announced on April 2, 2026, is INCORRECT?
(a) Large transport vehicles are eligible for a monthly subsidy of Rs80,000.
(b) Inter-city public service vehicles are eligible for a monthly subsidy of Rs100,000.
(c) The subsidy for two-wheelers is valid for a period of six months.
(d) Direct support of Rs70,000 is provided for trucks carrying essential food items.
Explanation: The subsidy for two-wheelers is provided for a duration of three months, not six months. The other statements accurately reflect the financial support measures announced by the Finance Minister. [Source: https://www.dawn.com/news/1987901/govt-hikes-petrol-price-to-rs458-per-litre-hsd-price-to-rs520-per-litre, 02 Apr 2026]