Month: April 2024

World Bank to give Dasu project $1b

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Dasu-Dam

Marks third major funding round to anchor crucial initiative amid delays ISLAMABAD: The World Bank will provide a $1 billion loan for the 2,160 megawatts Dasu hydropower project—a crucial initiative aimed at integrating cheaper electricity into Pakistan’s energy mix and showcasing the nation’s resilience against adversaries. This marks the third major financing by the World Bank for the project, which has faced delays and endured at least two terrorist attacks targeting Chinese nationals involved in its construction. Government sources disclosed that the Board of Directors of the Washington-based lender is…

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FBR plans to block mobile SIMs of tax evaders

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fbr

Revenue board chief endorses disconnection of 500,000 SIMs ISLAMABAD: The Federal Board of Revenue (FBR) has decided to block 500,000 mobile phone SIMs of tax evaders as the decision has been endorsed by its chairman. In this regard, the FBR has sent relevant rules to the officers concerned. According to sources, the FBR has identified two million tax evaders, but mobile service providing companies requested the tax authority that they could not afford to block such a large number of SIMs. In response to the request, it was decided that…

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India asks companies to fire up power plants

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power-subsidy

To meet rising electricity demand in hot summer months NEW DELHI: India has asked companies to operate underutilised gas-based power plants in May and June, and extend operations of imported coal-based plants until Oct 15 to meet anticipated high demand for electricity, according to two government orders. The South Asian nation registered an 8% rise in electricity consumption in the financial year that ended last month, and demand is expected to rise in the hot summer months. In an order dated Friday, the government for the first time invoked an…

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Thar coal key to overcoming expensive power woes

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coal

NEPRA report says high cost of electricity denting country’s growth KARACHI: The National Electric Power Regulatory Authority (Nepra) has revealed that the high cost of electricity was one of the contributing factors for decreasing the country’s economic growth rate to only 0.29% in the financial year 2022-23. The power regulator in its ‘State of the Industry Report 2023’ noted that the high electricity rates in the country was one  of the main factors affecting the country’s economic development and the decline in its gross domestic product (GDP). It pointed out…

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Polio victim plans to travel 400 cities to plant saplings

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tree-plant

Khizar Wali Chishti has so far succeeded in planting more than 150,000 saplings PESHAWAR: A 32-year-old polio survivor is embarking on a remarkable journey across Pakistan, aiming to plant 10 million trees and raise awareness about the urgent need for environmental conservation. Despite his physical challenges, Khizar Wali Chishti is determined to be a catalyst for change in the face of escalating climate threats. “The objective of the countrywide visit is to convey a message about the pressing need for planting trees to reduce the impacts of climate change,” Khizar stated.…

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