Month: November 2023

At the rate of Rs3.53/unit for Oct 2023: Nepra agrees to allow Discos to recover Rs32.7bn additional amount

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Nepra-KE-1

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) on Wednesday agreed in principle, to allow Discos to recover additional amount of Rs 32.7 billion at the rate of Rs 3.53 per unit from their consumers for October 2023 under the garb of previous adjustments. During the public hearing a representative of CPPA-G, Naveed Qaisar stated that positive impact of FCA in October 2023 was Rs 7.45 per unit against Rs 7.65 per unit of reference FCA, which implies that FCA’s impact was negative paisa 20 per unit. However, with addition…

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SBP grilled over money laundered via solar panels

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solar-panel

ISLAMABAD: The Senate Standing Committee on Finance on Wednesday regretted that the State Bank of Pakistan (SBP) had shared insufficient information on over Rs70bn established trade-based money laundering through the import of solar panels and ordered immediate payment to teachers their salaries pending since the start of the current fiscal year. Senator Saleem Mandviwalla, who presided over the meeting, lamented that it was the third meeting of the panel on the subject but the latest report on money laundering through solar panel imports did not offer anything new or progress.…

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‘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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