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.
#1001
Which of the following statements regarding China's gold imports in June 2026 is INCORRECT?
(a) Net gold imports via Hong Kong were higher than in June 2025.
(b) Net gold imports via Hong Kong were lower than in May 2026.
(c) Total gold imports via Hong Kong were lower than in May 2026.
(d) China's central bank increased its gold reserves during the month.
Explanation: Total gold imports via Hong Kong were 78.147 tons in June, which was an increase of 19% compared to the 65.562 tons imported in May. Therefore, stating that total imports were lower is factually incorrect. [Source: https://www.brecorder.com/news/40432008/chinas-june-net-gold-imports-via-hong-kong-up-from-year-ago-down-from-may, 27 Jul 2026]
#1002
What was the intraday high reached by the KSE-100 index on July 21, 2026?
(a) 176,133.56
(b) 177,370.45
(c) 178,370.45
(d) 179,370.45
Explanation: The KSE-100 index reached an intraday high of 178,370.45 points at 10:09am before experiencing profit-taking later in the session. The closing value was 176,133.56 points. [Source: https://www.dawn.com/news/2017214/psx-gains-1200-points-during-intraday-trade-as-oil-eases-amid-us-iran-mediation-efforts, 21 Jul 2026]
#1003
Brent crude futures rose by what percentage on July 21, 2026, as hostilities in the Gulf intensified?
(a) 1.2 percent
(b) 1.8 percent
(c) 1.5 percent
(d) 2.0 percent
Explanation: Brent crude futures rose by $1.62, which corresponds to a 1.8 percent increase, reaching $90.84 a barrel. This rise occurred as early market optimism eroded due to continued regional hostilities. [Source: https://www.dawn.com/news/2017214/psx-gains-2000-points-during-intraday-trade-as-oil-eases-amid-us-iran-mediation-efforts, 21 Jul 2026]
#1004
Brent crude futures rose by 1.8 percent to reach which price per barrel on July 21, 2026?
(a) 90.84 dollars
(b) 83.96 dollars
(c) 84.60 dollars
(d) 92.84 dollars
Explanation: Brent crude futures rose by $1.62, or 1.8 percent, to reach $90.84 per barrel. The other figures represent different oil contract prices mentioned in the market data. [Source: https://www.dawn.com/news/2017214/psx-gains-1200-points-during-intraday-trade-as-oil-eases-amid-us-iran-mediation-efforts, 21 Jul 2026]
#1005
What was the specific amount of the proposed increase in the price of high-speed diesel (HSD) that the Prime Minister rejected on March 27, 2026?
(a) Rs 177 per litre
(b) Rs 203 per litre
(c) Rs 95 per litre
(d) Rs 76 per litre
Explanation: The Prime Minister announced the rejection of a Rs 203 per litre increase for HSD on March 27, 2026. The figure of Rs 177 was a previous recommendation rejected a week prior. [Source: https://www.dawn.com/news/1985954/pm-shehbaz-again-rejects-increase-in-petrol-diesel-prices, 27 Mar 2026]
#1006
Which sector specifically faced selling pressure on July 21, 2026, due to speculation regarding policy delays?
(a) Refinery stocks
(b) Textile manufacturing
(c) Cement production
(d) None of these
Explanation: Refinery stocks experienced significant selling pressure because of market speculation that the long-awaited refinery policy might face further delays. Other sectors like cement and textiles were actually expected to post strong earnings results. [Source: https://www.dawn.com/news/2017214/psx-gains-1200-points-during-intraday-trade-as-oil-eases-amid-us-iran-mediation-efforts, 21 Jul 2026]
#1007
Which critical maritime chokepoint was identified as the focus of US naval escort operations to ensure the continued flow of oil to global markets in March 2026?
(a) Strait of Malacca
(b) Strait of Hormuz
(c) Bab-el-Mandeb Strait
(d) None of these
Explanation: The Strait of Hormuz is the vital maritime passage mentioned in the context of US naval escort operations aimed at maintaining global energy stability. Other options like the Strait of Malacca are major chokepoints but were not the focus of the reported military activity. [Source: https://www.dawn.com/news/1980727/oil-plunges-15pc-amid-hopes-of-de-escalation, 11 Mar 2026]
#1008
Consider the following statements about the market performance on July 21, 2026: 1. The KSE-100 index opened in the green before experiencing a sharp dip after 12pm. 2. Global oil prices initially fell due to reports of mediation efforts between the US and Iran. 3. The market closed in the red after failing to recover from the midday selling pressure.
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) All three
Explanation: Statement 1 and 2 are factually correct. Statement 3 is incorrect because the index actually closed in the green with a gain of 205.83 points, despite the midday volatility. [Source: https://www.dawn.com/news/2017214/psx-gains-1200-points-during-intraday-trade-as-oil-eases-amid-us-iran-mediation-efforts, 21 Jul 2026]
#1009
Consider the following statements about the market conditions on July 21, 2026: 1. Brent crude futures rose by 1.8 per cent to $90.84 a barrel. 2. The US West Texas Intermediate (WTI) crude contract for September delivery rose by 1.8 per cent. 3. Investor sentiment was bolstered by optimism regarding the ongoing earnings season for oil and gas exploration companies. 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 data reported for the session. Brent crude rose to $90.84, the September WTI contract rose by 1.8 per cent, and analysts specifically cited earnings optimism in the oil and gas sector as a supporting factor for investor sentiment. [Source: https://www.dawn.com/news/2017214/kse-100-makes-marginal-gains-as-global-energy-uncertainty-weighs-on-early-rally, 21 Jul 2026]
#1010
What was the approximate price level of Brent crude per barrel in Asian trade on July 27, 2026, following the reported decline?
(a) Below $85
(b) Above $102
(c) Exactly $98
(d) Below $93
Explanation: Brent crude prices fell to below $93 per barrel after the US and Iran paused strikes. The $102 figure refers to the peak price reached during the previous week of heightened tensions. [Source: https://www.brecorder.com/news/40431972/indian-bonds-rebound-as-easing-middle-east-tensions-drag-oil-lower, 27 Jul 2026]
#1011
According to the Prime Minister's address on March 27, 2026, what is the total financial burden the federal government has borne over a three-week period to subsidize fuel prices?
(a) Rs 56 billion
(b) Rs 100 billion
(c) Rs 150 billion
(d) Rs 125 billion
Explanation: The government reported a cumulative fiscal burden of Rs 125 billion over three weeks to maintain current fuel prices. Rs 56 billion refers specifically to the burden borne during the week of the announcement. [Source: https://www.dawn.com/news/1985954/pm-shehbaz-again-rejects-increase-in-petrol-diesel-prices, 27 Mar 2026]
#1012
Consider the following statements regarding the government's fiscal policy announced on March 27, 2026: 1. The government reduced the development budget by Rs 100 billion to accommodate fuel subsidies. 2. The current market price of petrol in Pakistan is higher than the international market rate. 3. The Prime Minister urged citizens to adopt austerity measures in their daily travel habits.
(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 budget cut. Statement 2 is incorrect because the government is subsidizing the price, meaning the domestic price is significantly lower than the international market rate. Statement 3 is correct as the Prime Minister explicitly requested citizens to reconsider travel necessity. [Source: https://www.dawn.com/news/1985954/pm-shehbaz-again-rejects-increase-in-petrol-diesel-prices, 27 Mar 2026]
#1013
Which international benchmark crude oil price dropped below $90 a barrel on July 27, 2026?
(a) West Texas Intermediate
(b) North Sea Brent
(c) OPEC Reference Basket
(d) Dubai Crude
Explanation: North Sea Brent crude shed more than seven percent early on July 27, 2026, to briefly drop below $90 a barrel, contributing to improved market sentiment. [Source: https://www.dawn.com/news/2018715/psx-opens-week-in-the-green-gains-more-than-7000-points-to-close-above-178000-mark, 27 Jul 2026]
#1014
Brent crude futures fell to approximately what price per barrel on March 11, 2026, following the market's reaction to de-escalation hopes?
(a) 105.60 dollars
(b) 92.45 dollars
(c) 84.73 dollars
(d) 119.00 dollars
Explanation: Brent futures dropped to $84.73 per barrel on March 11, 2026, representing a sharp decline from the session highs observed earlier in the week. The other values represent either higher price points or incorrect benchmarks. [Source: https://www.dawn.com/news/1980727/oil-plunges-15pc-amid-hopes-of-de-escalation, 11 Mar 2026]
#1015
All of the following factors contributed to the volatility of oil prices in March 2026 EXCEPT:
(a) Supply cuts by Saudi Arabia and other producers
(b) A permanent global transition to renewable energy sources
(c) Concerns regarding disruptions in the Strait of Hormuz
(d) Diplomatic proposals aimed at a settlement to the war
Explanation: The market volatility in March 2026 was driven by immediate geopolitical tensions and supply chain concerns, not by a long-term transition to renewable energy. The other three options are direct factors that influenced the price fluctuations described. [Source: https://www.dawn.com/news/1980727/oil-plunges-15pc-amid-hopes-of-de-escalation, 11 Mar 2026]
#1016
In March 2026, which US official stated that the American military had facilitated a shipment of oil to maintain global energy stability?
(a) Secretary of Energy
(b) Secretary of Defense
(c) Secretary of State
(d) Secretary of Treasury
Explanation: US Energy Secretary Chris Wright publicly confirmed that the American military facilitated oil shipments through the Strait of Hormuz. This action was intended to reassure markets regarding the continuity of energy supplies. [Source: https://www.dawn.com/news/1980727/oil-plunges-15pc-amid-hopes-of-de-escalation, 11 Mar 2026]
#1017
On March 11, 2026, by what approximate percentage did global oil prices plunge following reports of potential de-escalation in the conflict with Iran?
(a) 5 percent
(b) 10 percent
(c) 20 percent
(d) 15 percent
Explanation: Oil prices experienced a significant correction of approximately 15 percent on March 11, 2026, as markets reacted to diplomatic signals suggesting a potential end to the conflict. This followed a period of extreme volatility where prices had previously surged to levels not seen since 2022. [Source: https://www.dawn.com/news/1980727/oil-plunges-15pc-amid-hopes-of-de-escalation, 11 Mar 2026]
#1018
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]
#1019
Which of the following is NOT identified as a potential economic impact of the Middle East conflict on Pakistan in the March 2026 report?
(a) Increased energy costs
(b) Immediate collapse of the banking sector
(c) Strain on remittance inflows
(d) Pressure on the exchange rate
Explanation: The report warns of inflation, import costs, and remittance strain, but it does not predict an immediate collapse of the banking sector. The other options are explicitly mentioned as risks to the external sector. [Source: https://www.dawn.com/news/1979649/external-sector-faces-instability-amid-middle-east-crisis, 08 Mar 2026]
#1020
Consider the following statements regarding the economic outlook for Pakistan in 2026: 1. The Strait of Hormuz is a critical chokepoint through which approximately 20 percent of global oil passes. 2. The Planning Commission report suggests that Pakistan's development trajectory for FY26 remains positive despite external risks. 3. The government has advised citizens to increase fuel consumption to stimulate domestic industrial growth.
(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 Planning Minister specifically urged citizens to adopt responsible consumption practices and avoid unnecessary travel, rather than increasing fuel consumption. [Source: https://www.dawn.com/news/1979649/external-sector-faces-instability-amid-middle-east-crisis, 08 Mar 2026]