SPAR6C Workshop in Lahore Pave the Way for Sustainable Waste Management and Carbon Finance

Lahore, April 29-30, 2024:  An influential workshop concluded today in Lahore, bringing together 75 participants, including top officials from Provincial Planning and Development Departments, CEOs of key waste management companies, and senior managers from national and international banks. The two-day event focused on enhancing carbon finance opportunities and implementing data-driven solutions for solid waste management in Pakistan. Organized by the…

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GoodWe Establishes Dedicated Department to Strengthen ESG Governance and Drive Long-Term Sustainability Initiatives

goodwe

GoodWe, a leading global company in renewable energy industry, has announced the launch of Sustainable Development Research Institute, a team dedicated to advancing the company’s Environmental, Social, and Governance (ESG) performance and practices. Established in late 2023, the institute is tasked with formulating mid- to long-term sustainable development plans. It will play a role in promoting the effective implementation of…

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G7 Agrees to Exit Coal by Mid-2030s in Push for Fossil Fuel Transition

Fuel-Transition

TURIN, (Reuters) – Energy ministers from the Group of Seven (G7) major democracies have reached a landmark agreement to phase out coal-fired power plants by the first half of the 2030s, marking a significant stride towards a global transition away from fossil fuels. Italian Energy Minister Gilberto Pichetto Fratin, chairing the G7 ministerial meeting in Turin, confirmed a technical agreement…

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Mari Petroleum Plans Rs2.5 Billion Investment in Mineral Mining Subsidiary

Mari-Petroleum

Mari Petroleum Company Limited (MARI), a prominent player in Pakistan’s energy and exploration sector, has announced its intention to invest up to Rs2.5 billion in its subsidiary, Mari Mining Company (Pvt) Ltd (MMC), through equity injection. The Board of Directors of MARI approved this investment, as revealed in a notice to the Pakistan Stock Exchange (PSX) on Monday. This investment,…

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NTDC Under Scrutiny for Alleged Irregular Contract Awards and Internal Conflicts

Power-control

The National Transmission and Despatch Company (NTDC) has come under scrutiny for alleged irregularities in contract awards and internal conflicts, creating concerns within the Power Division. The Senate Standing Committee on Power has interrogated top officials from both the Power Division and NTDC multiple times regarding the awarding of contracts to ineligible bidders. Senior officials from the Power Division revealed…

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Aramco Secures 40% Stake in Gas & Oil Pakistan Ltd, CCP Approval Granted

Oil-Pakistan

The Competition Commission of Pakistan (CCP) has given the green light for Aramco, a global energy and chemicals leader, to acquire a 40% equity stake in Gas & Oil Pakistan Ltd (GO). This move marks Aramco’s inaugural entry into Pakistan’s fuels retail sector, showcasing its confidence in the nation’s economic prospects and its dedication to fostering growth. Aramco Asia Singapore…

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IMF Approves Final $1.1 Billion Tranche for Pakistan

IMF-board

In Washington, the International Monetary Fund’s Executive Board has given the green light for the immediate release of around $1.1 billion to Pakistan. This decision marks the completion of the second review under the Stand-By Arrangement (SBA), bringing the total disbursements under this program to approximately $3 billion. The board’s unanimous approval, except for India’s abstention, signals confidence in Pakistan’s…

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