Month: May 2021

Back in 2015, the Paris Agreement aimed to address the climate change due to the possible rise in the temperatures by 1.5 degrees Celsius, which has been translated into net zero greenhouse gas emissions by 2050. In the same vein i.e., to meet Paris Agreement goals, the International Energy Agency in its recent report ‘Net Zero by 2050’ has called the world for curbing fossil fuels. However, what has caught the spotlight is its appeal to stopping all new investments in oil, gas and coal supply from next year, retiring…

The federal government has filed a motion with the power regulator for extension of abolishment of time-of-use electricity tariffs for industrial consumers, as the Cabinet Committee on Energy approved the Power Division’s proposal for the same. Recall that the government had support to industrial power consumers back in November 2020, with various support packages announced, of which abolishment of peak rates on incremental consumption was one. The idea was to have it in place till April 2021 and then have a review. The review it appears was conducted, and formal…

Special Assistant to Prime Minister on Climate Change Malik Amin Aslam on Thursday said that introducing modern and environmental-friendly transport system through electric vehicles (EVs) in the country is of unprecedented importance to the efforts for coping with Pakistan’s air pollution woes and making cities clean and green under PM Imran Khan’s world-acclaimed green agenda. “Introducing EVs in the country’s ailing transport system are pivotal for modernising it and reduce the carbon emissions that contribute to climate change and smog, improving public health and reducing ecological damage,” the PM’s aide…

The Ministry of Finance may allocate Rs330 billion for power subsidies, which are equal to 60% of the next fiscal year’s estimated needs, sowing the seed for additional Rs220 billion circular debt from the very first day of the new fiscal year. Finance Minister Shaukat Tarin also threw his weight behind a proposal of giving subsidised gas and electricity to five export-oriented sectors under existing mechanisms that will result in undue subsidy payments of about Rs14 billion to Rs17 billion on nearly 35% of the production by 4,000 industrial units…