Year: 2021

Islamic banks should embrace sustainable finance practices to unlock funding opportunities in green energy, affordable housing and infrastructure projects, Azhar Aslam, head of Islamic banking, Standard Chartered Bank Pakistan said during an interview with The News. These avenues should be considered a great opportunity by Islamic financial institutions (IFIs), which could better manage environmental and social impacts in a Shariah-compliant way that contributes to sustainable development. “There are few key initiatives in the country that provide green investment and sustainable financing opportunities such as green energy, as the government aims…

Energy sector experts have stressed the need for according equal importance to the country’s non-traditional security challenges such as energy and environmental crisis to ensure national security. Speaking at a webinar titled “Nontraditional security challenges – energy and environment crisis” on Friday, they were of the view that by tackling energy and environmental challenges, Pakistan could boost its overall national security paradigm. Sustainable Development Policy Institute (SDPI) Board of Governors Chairperson Shafqat Kakakhel said that the nexus among climate change, energy and security was well established. According to him, the…

Industrialists have expressed concern over the hike in energy tariff and discontinuation of gas supply to the factories generating their own electricity. In a statement on Friday, Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Nasser Hyatt Maggo and other office-bearers said that the government was making efforts to appease the International Monetary Fund (IMF) at the cost of industries. “We reject the government’s action of raising power tariff and periodically increasing prices of petroleum products as they will have grave implications for the cost of production in…