Day: November 29, 2023

‘Tax the bad’ to boost climate finance, COP28 panel advises

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climate-change

Increasing taxes on polluting activities and cutting fossil fuel subsidies could generate trillions of dollars to tackle climate change, an advisory panel to the COP28 talks in Dubai said. Summit host the United Arab Emirates, a major oil producer, has said the two-week meeting starting on Thursday must deliver “tangible action” on climate funding, which has been squeezed by rising debt burdens, faltering political will and patchy efforts by private finance. Higher carbon taxes – including levies on emissions from the maritime and aviation sectors – should be among options…

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COP28 summit: Pakistan needs $348bn by 2030 to take climate action

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climate-action

ISLAMABAD: Pakistan will strive for operationalisation of $100 billion loss and damage fund and equal funding for the climate change mitigation as well as adaptation at COP28 summit going to held in Dubai from Thursday. Being the worst affected country due to climate change, Pakistan needs around $348 billion by 2030 to take climate action, both to mitigate and adapt to the unavoidable damages while the country requires $120 billion alone for the adaptation to the climate change in next seven years, Syed Asif Hyder Shah, secretary, Ministry of Climate…

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Honda unveils its first electric motorcycle

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Electric-Vehicles

Marks 60 years in Pakistan, signalling new era in country’s automotive industry KARACHI: Chief Officer of Motorcycle and Power Products at Atlas Honda, Noriaki Abe, unveiled Honda’s inaugural electric vehicle (EV) motorcycle, the Honda BENLY-e, as part of the celebration of Atlas Honda’s 60th year of operations in Pakistan. The unveiling took place during a ceremony at Atlas Honda’s Sheikhupura factory and was attended by Shinji Aoyama, Executive Vice President and COO of Honda Motor Company, and Toshio Kuwahara, President and CEO of Asian Honda Motor Company, according to a…

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ADB gives $180m for water, waste management

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Asian-Development-Bank

ISLAMABAD: The Asian Development Bank (ADB) on Tuesday announced that it had approved a $180 million loan to improve water supply and solid waste management services in Punjab’s two rapidly growing cities — Rawalpindi and Bahawalpur. In a statement, the Manila-based lending agency said the loan was expected to benefit about 1.5 million people through the Developing Resilient Environments and Advancing Municipal Services in Punjab and help curtail excessive groundwater extraction and urban environment degradation by expanding and modernising urban water supply in Rawalpindi and solid waste management systems in…

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NEPRA hears petition for grant of distribution, supplier license to K-Electric for 20 years

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k-electric

ISLAMABAD: National Electric Power Regulatory Authority (NEPRA) has heard K-Electric’s petition for the grant of a non-exclusive distribution license and supplier license for the next 20 years to its service territory including Karachi, Dhabeji, and Gharo in Sindh and Balochistan’s Hub, Bela and Vinder regions.The hearing was attended by various stakeholders including Karachi’s industries and the general public. KE’s senior leadership including Chief Financial Officer Aamir Ghaziani, Chief Distribution Officer Fawad Gilani, and Chief Marketing and Communications Officer Sadia Dada, represented the company to address the questions framed by the…

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