Year: 2021

Pakistan will shift to 60pc clean energy by 2030, world assured

Admin

WASHINGTON: Pakistan assured the international community on Thursday that it would shift to 60 per cent clean energy and 30pc electric vehicle use by 2030. Addressing the US-initiated Leaders Summit in Washington, Special Assistant to the Prime Minister on Climate Change Malik Amin Aslam also urged developed nations to fulfil their commitment to help others make this transition from carbon-based to clean energy. “We have committed ourselves to 60pc clean energy and 30pc electric vehicle transition by 2030. So, Pakistan is clearly doing more than its share for the climate…

Read More

Climate Summit: Pakistan vows to produce 60% ‘clean energy’ by 2030

Admin

ISLAMABAD: Special Assistant to the Prime Minister on Climate Change Amin Aslam on Thursday asserted that 60 percent of all energy produced in Pakistan will be clean or renewable by 2030 while 30 percent of all vehicles would be transferred to electricity. “The world has to do more, and fast-track efforts to confront the climate change,” Prime Minister Imran Khan’s aide stressed while addressing the virtual US-led Leaders Summit on Climate hosted by the US government in Washington on April 22, also the World Earth Day. He said while being…

Read More

Petrol smuggling costing national exchequer Rs240bn loss annually

Admin

Pakistan is bearing an annual loss of Rs240 billion due to the smuggling of Petroleum products, according to the Petroleum Commission’s report which was made public on Tuesday after the federal cabinet’s approval.  Petroleum products, especially motor spirit (MS) and high speed diesel (HSD), are smuggled into Pakistan from the western border of Taftan, Iran. The tax department during the year 2019-20 seized 27,911,746 litre petrol and 997,037,434 litres smuggled diesel. The report states that the net loss of revenue on the seized product is around Rs48bn in one year…

Read More

Weak economy + Covid: a double whammy for FDI

Admin

While the situation at external front has been improving, the foreign direct investment climate is dreary as usual. Where COIVD-19 pandemic has adversely affected FDI flows across the globe including Pakistan, the situation at home has been worrisome much before the pandemic hit. The continuous decline in FDI since after FY17 is the evidence. Central bank’s latest data shows that net flows in March 2021 was down again year-on-year – though it was able to break the continuous month-on-month decline streak of the previous four months. At $253 million, net…

Read More

Renewables project pipeline accelerates in Asia Pacific

Admin

By 31 March 2021, new power generation projects under construction stood at 463 gigawatts (GW) across the region’s 16 key power markets, up 5% from the previous quarter, reported IHS Markit. “With countries aiming to further reduce their carbon emissions, it is not surprising that the share of renewables in planned power projects increased in the last quarter,” said Xizhou Zhou, vice president, global power & renewables at IHS Markit. Australia widens gap as clean energy leader in Asia Pacific Australia confirmed its top position in the second quarter RAI,…

Read More