Month: April 2024

Saudi Fund for Development Backs Hydro Power Projects in AJK

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AJK-Pak

Azad Jammu and Kashmir welcomed a delegation from the Saudi Fund for Development (SFD) as part of the Green Energy Drive, culminating in agreements for financing two Hydro Power Projects in the region. The Saudi delegation, led by the Fund’s CEO, Sultan bin Abdulrahman Al-Marshid, solidified agreements for the Shounter Hydro Project and the Jagran-4 Hydro Project. The Shounter hydro project, with an estimated cost of $66 million, is projected to generate 48 megawatts of electricity, while the Jagran-4 hydro project, costing $41 million, will yield 22 MW of electricity…

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Govt Increases Petrol by Rs9.66, Cuts Diesel Price by Rs3.32

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Petrol-price

The federal government of Pakistan has announced a significant increase in petrol prices by Rs9.66 per litre, bringing the new rate to Rs289.41 per litre, effective from April 01, 2024. In contrast, the price of high-speed diesel (HSD) has been reduced by Rs3.32 per litre to Rs282.24. The decision follows earlier speculation reported by Headline PK regarding a potential hike in petroleum product prices. The recent surge in petrol prices is attributed to a rise in the premium, increasing from $12.15 per barrel to $13.507 per barrel, marking a $1.45 per barrel…

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World Future Energy Summit to Spotlight Regional Electronic Vehicle (EV) Target Viability at New eMobility Forum

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World-future

Abu Dhabi, UAE; April 1, 2024: In one of three major expansions of its robust knowledge-sharing programme, the World Future Energy Summit, hosted by Masdar, has announced the launch of a dedicated eMobility Forum to debut at the 2024 event, the 16th in the annual series, which runs at Abu Dhabi National Exhibition Centre (ADNEC) from April 16-18. With the Middle East and North Africa (MENA) EV market predicted to reach a US$4.3 bn valuation by 20281, the first-ever eMobility Forum on April 18 will feature expert local and global…

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Pakistan: Two New World Bank Projects to Support the Digital Economy and Increase Resilience to Floods

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world-bank

WASHINGTON, March 22, 2024—The World Bank’s Board of Executive Directors approved $149.7 million in financing for Pakistan today to support two projects. The Digital Economy Enhancement Project ($78 million)will support the expansion of digitally enabled public services delivery for citizens and firms, while the second Additional Financing for the Sindh Barrages Improvement Project ($71.7 million) will support better resilience to floods and improvements in the reliability, safety, and management of the Sindh barrages*. “The catastrophic floods that hit Pakistan in 2022 were a tragic reminder of the importance to build…

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