May 2026 Edition
Start May Quiz
May 2026 Current Affairs MCQs & Solutions
Top national & international current affairs questions for CSS, PMS, FPSC, PPSC, and NTS screening tests.
#14421
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]
#14422
According to the Chief Minister of KP, what is the approximate trade deficit of the country as of 2026?
(a) $16 billion
(b) $26 billion
(c) $46 billion
(d) $36 billion
Explanation: The Chief Minister cited a trade deficit of approximately $36 billion while criticizing national economic performance. The other figures are incorrect estimates of the trade deficit. [Source: https://www.dawn.com/news/2010593/cm-afridi-vows-peace-in-fy27-as-kp-assembly-passes-rs217tr-budget, 24 Jun 2026]
#14423
Who is the current Chairman of the Pakistan Vanaspati Manufacturers Association (PVMA) as of March 2026?
(a) Sheikh Umer Rehan
(b) Muhammad Zubair Motiwala
(c) Atif Ikram Sheikh
(d) None of these
Explanation: Sheikh Umer Rehan serves as the Chairman of the PVMA and issued the official statement regarding the stability of edible oil supplies. The other names listed are prominent business figures but do not hold this specific position. [Source: https://www.dawn.com/news/1980381/no-shortage-of-edible-oil-pvma, 10 Mar 2026]
#14424
What is the total budget amount approved by the Khyber Pakhtunkhwa Assembly for the fiscal year 2026-27?
(a) Rs2.17 trillion
(b) Rs1.17 trillion
(c) Rs3.17 trillion
(d) Rs4.17 trillion
Explanation: The Khyber Pakhtunkhwa Assembly passed a budget of Rs2.17 trillion for the fiscal year 2026-27. Other figures provided are incorrect distractors representing different potential fiscal scales. [Source: https://www.dawn.com/news/2010593/cm-afridi-vows-peace-in-fy27-as-kp-assembly-passes-rs217tr-budget, 24 Jun 2026]
#14425
Consider the following statements about the 2026-07-21 flooding event: 1. The floods occurred in a region that shares a border with Pakistan. 2. The disaster agency warned residents to stay away from riverbanks due to the risk of further storms. 3. Search and rescue operations were fully equipped with advanced heavy machinery provided by international donors. 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: Nuristan does border Pakistan, and ANDMA did issue warnings regarding further rain. However, reports explicitly stated that residents were searching the area without equipment, contradicting the claim that they were fully equipped with advanced machinery. [Source: https://www.dawn.com/news/2017161/20-afghans-killed100-missing-after-floods, 21 Jul 2026]
#14426
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]
#14427
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]
#14428
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]
#14429
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]
#14430
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]
#14431
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]
#14432
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]
#14433
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]
#14434
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]
#14435
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]
#14436
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]
#14437
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]
#14438
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]
#14439
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]
#14440
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]