May 2026 Edition
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May 2026 Current Affairs MCQs & Solutions
Top national & international current affairs questions for CSS, PMS, FPSC, PPSC, and NTS screening tests.
#14981
Consider the following statements about the security situation in AJK as of July 14, 2026: 1. The JAAC leader Khwaja Mehran issued a 48-hour deadline to close entry points to the state. 2. Rangers were deployed to assist the police in the operation against the armed group. 3. The government reported that the majority of the population continues to support the JAAC's blockade strategy. 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 Home Secretary's briefing. Statement 3 is incorrect because the government explicitly stated that the majority of the population has distanced itself from the JAAC. [Source: https://www.dawn.com/news/2015416/ajk-govt-says-operation-under-way-to-reopen-routes-blocked-by-banned-jaac, 14 Jul 2026]
#14982
What is the new price of high-speed diesel (HSD) per litre following the government's announcement on July 10, 2026?
(a) Rs310.71
(b) Rs458.41
(c) Rs281.00
(d) Rs323.30
Explanation: The government increased the price of high-speed diesel to Rs323.30 per litre. Rs310.71 is the current price of petrol, while the other figures represent historical price points. [Source: https://www.dawn.com/news/2014423/govt-raises-petrol-price-by-rs1318-diesel-by-rs1380, 10 Jul 2026]
#14983
During the visit to Shanghai on 2026-07-16, the Pakistani delegation reaffirmed commitment to high-quality development under which framework?
(a) CPEC 2.0
(b) CPEC 1.0
(c) Belt and Road Initiative
(d) Global Development Initiative
Explanation: The Foreign Office confirmed that the leaders underscored the importance of advancing high-quality development specifically under CPEC 2.0. CPEC 1.0 refers to the earlier phase of the project. [Source: https://www.dawn.com/news/2015858/pakistan-becomes-founding-member-of-world-artificial-intelligence-cooperation-organisation, 16 Jul 2026]
#14984
Which official announced the government's operation to clear routes blocked by the JAAC on July 14, 2026?
(a) Chaudhry Guftar Hussain
(b) Khwaja Mehran
(c) Raja Farooq Haider
(d) None of these
Explanation: Chaudhry Guftar Hussain, the AJK Home Secretary, addressed the press conference on July 14, 2026, to detail the government's security operation. Khwaja Mehran is identified as the leader of the proscribed JAAC, not a government official. [Source: https://www.dawn.com/news/2015416/ajk-govt-says-operation-under-way-to-reopen-routes-blocked-by-banned-jaac, 14 Jul 2026]
#14985
Following the price adjustment on July 17, 2026, what is the new price of petrol per litre?
(a) Rs316.15
(b) Rs266.00
(c) Rs354.35
(d) Rs458.41
Explanation: The price of petrol was set at Rs316.15 per litre following the increase. Rs354.35 is the new price for high-speed diesel. [Source: https://www.dawn.com/news/2016247/govt-increases-petrol-price-by-rs544-diesel-by-rs3105-per-litre-for-next-three-days, 17 Jul 2026]
#14986
The total savings identified for the quarterly tariff adjustment (QTA) refund in 2026 amount to approximately:
(a) Rs42 billion
(b) Rs54 billion
(c) Rs74 billion
(d) Rs64 billion
Explanation: The total savings accrued for the first quarter of 2026, which are being passed on to consumers, amount to approximately Rs64 billion. This figure is derived from savings in capacity charges, market operator fees, and other operational adjustments. [Source: https://www.dawn.com/news/1998087/power-consumers-to-get-rs175-per-unit-relief-over-next-3-months, 06 May 2026]
#14987
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]
#14988
Consider the following statements about the regulatory developments for virtual assets in Pakistan: 1. The Virtual Assets Act 2026 provides the legal basis for the PVARA to act as a statutory regulator. 2. The PVARA has introduced a regulatory sandbox to facilitate innovation in virtual asset services. 3. All pilot projects involving virtual assets are exempt from prior authorization requirements. 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 legal framework and the operational tools (regulatory sandbox) mentioned in the policy. Statement 3 is incorrect because the authority explicitly stated that any pilot involving virtual assets requires prior authorization. [Source: https://www.dawn.com/news/1996695/pm-shehbaz-says-regulatory-system-for-virtual-assets-should-be-operationalised-at-the-earliest, 01 May 2026]
#14989
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]
#14990
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]
#14991
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]
#14992
The IMF executive board meeting scheduled for May 8, 2026, is intended to approve a disbursement of approximately how much total funding to Pakistan?
(a) $4.5 billion
(b) $1.2 billion
(c) $7.0 billion
(d) $1.47 trillion
Explanation: The IMF board is meeting to approve a disbursement of over $1.2 billion, comprising $1 billion from the EFF and $210 million from the RSF. While $4.5 billion represents the total cumulative disbursement under these arrangements, the specific upcoming tranche is $1.2 billion. [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]
#14993
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]
#14994
Consider the following statements about the energy situation in Pakistan as of April 2026: 1. Spot LNG prices have surged to between $20 and $30 per mmBtu due to Middle East conflict. 2. Eight out of ten fertilizer plants in the country are currently operational despite gas supply disruptions. 3. The Baragzai X-01 well is expected to contribute approximately 25% of Pakistan's total crude output. 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 2 are factually correct based on the report. Statement 3 is incorrect because the well is expected to contribute about 10% of crude output, not 25%. [Source: https://www.dawn.com/news/1992034/pakistan-considering-buying-lng-on-spot-market-to-offset-supply-disruptions-caused-by-iran-war-petroleum-minister, 15 Apr 2026]
#14995
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]
#14996
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]
#14997
Which of the following statements regarding Pakistan's energy strategy in April 2026 is INCORRECT?
(a) Pakistan has completely eliminated its reliance on LNG imports due to domestic production.
(b) The government is prioritizing government-to-government LNG deals to avoid steep premiums.
(c) Officials are considering the use of furnace oil to limit load shedding despite potential tariff increases.
(d) Insurance costs for routes crossing the Strait of Hormuz are higher than those via the Red Sea.
Explanation: Pakistan has not eliminated its reliance on LNG; it remains exposed to supply shocks and continues to import LNG to meet peak summer power demand. The other statements accurately reflect the government's current energy policy. [Source: https://www.dawn.com/news/1992034/pakistan-considering-buying-lng-on-spot-market-to-offset-supply-disruptions-caused-by-iran-war-petroleum-minister, 15 Apr 2026]
#14998
Who received Prime Minister Shehbaz Sharif upon his arrival in Saudi Arabia on April 15, 2026?
(a) Prince Faisal bin Farhan
(b) Prince Saud bin Mushaal bin Abdulaziz
(c) Prince Khalid bin Salman
(d) Prince Bandar bin Sultan
Explanation: Prince Saud bin Mushaal bin Abdulaziz, the Deputy Governor of the Makkah Region, was among the officials who received the Prime Minister. The other princes listed were not mentioned as part of the reception committee. [Source: https://www.dawn.com/news/1991908/pm-shehbaz-meets-saudi-crown-prince-in-jeddah-dar-says-avenues-to-further-enhance-cooperation-discussed, 15 Apr 2026]
#14999
During the 2026 Spring Meetings, Finance Minister Aurangzeb discussed the development of capital markets with the Managing Director of which organization?
(a) International Finance Corporation (IFC)
(b) Asian Development Bank (ADB)
(c) Islamic Development Bank (IsDB)
(d) None of these
Explanation: The Finance Minister held a separate meeting with IFC Managing Director Makhtar Diop to discuss capital market development and private sector investment. The ADB and IsDB are distinct institutions not mentioned in the context of this specific request. [Source: https://www.dawn.com/news/1991419/in-meeting-with-wb-vice-president-aurangzeb-calls-for-enhanced-technical-support-for-debt-management, 13 Apr 2026]
#15000
Consider the following statements about the diplomatic visit of the Prime Minister in April 2026: 1. The visit to Saudi Arabia and Qatar was conducted in a bilateral context. 2. The Prime Minister is expected to hold a meeting with President Recep Tayyip Erdogan in Turkiye. 3. The delegation included the Information Minister and the Special Assistant to the Prime Minister.
(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 official reports regarding the Prime Minister's diplomatic tour. The visits to Saudi Arabia and Qatar were bilateral, the meeting with President Erdogan was planned for the Antalya Diplomacy Forum, and the delegation included both the Information Minister and the SAPM. [Source: https://www.dawn.com/news/1991908/pm-shehbaz-meets-saudi-crown-prince-in-jeddah-dar-says-avenues-to-further-enhance-cooperation-discussed, 15 Apr 2026]