Month: August 2024

Experts Urge Immediate Action to Protect Mangroves, Vital for Marine Life and Carbon Sequestration

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Protect-Mangroves

KARACHI: Environmentalists are calling for urgent measures to safeguard mangrove forests, emphasizing their essential role in supporting marine life and sequestering carbon. These unique ecosystems, found in coastal regions such as Karachi, Keti Bandar, Thatta, Sujawal, and parts of Balochistan, are critical nurseries for fish, crabs, and shrimp, and can capture up to four times more carbon than other coastal plants. Mangroves also serve as natural defenses against storms, floods, and tsunamis, while playing a vital role in the fishing industry by sustaining diverse marine species. One of the notable…

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MOL Discovers Hydrocarbons in Kohat

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oil and gas

ISLAMABAD: Hungarian oil and gas company MOL has announced a significant hydrocarbon discovery at an exploratory well in the Kohat district of Khyber Pakhtunkhwa. The discovery was made in the Razgir-1 Exploratory well, part of the TAL Joint Venture, which MOL operates. The joint venture includes MOL Pakistan Oil & Gas Co. B.V. as the operator, alongside its partners, Oil & Gas Development Company Ltd, Pakistan Petroleum Ltd, Pakistan Oilfields Ltd (POL), and Government Holdings Private Ltd. The Razgir-1 well, spudded on January 9, 2024, was drilled to a depth…

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MNCs Consider Relocation Amid Internet Disruptions: Pakistan Business Council

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Inter-net

KARACHI: The Pakistan Business Council (PBC) has raised alarms about an increasing trend of multinational companies (MNCs) planning to relocate their back offices from Pakistan, with several already having done so recently. This shift is largely attributed to widespread internet disruptions caused by the reported imposition of a firewall, severely impacting business operations. The warning coincides with a report from the Dubai Chamber of Commerce, which revealed that 3,968 Pakistani companies registered in Dubai during the first half of 2024, marking a 17% increase from the same period in 2023.…

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Power Users Set to Receive Rs 4.5 Billion Refund in September Bills

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Your-Bill

ISLAMABAD: In a positive development for consumers, government-owned power distribution companies (Discos) are seeking a refund of Rs 4.5 billion to be reflected in September bills. This comes as the Central Power Purchasing Agency (CPPA) has requested a 31 paise per unit reduction in the fuel cost adjustment (FCA) for electricity consumed in July. The CPPA’s petition to the National Electric Power Regulatory Authority (Nepra) seeks to adjust the FCA from the previously charged Rs 9.352 per unit to Rs 9.038 per unit, citing lower-than-expected fuel costs due to a…

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Sindh cabinet has allotted 250 acres for setting up three solar parks

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solar-energy

Karachi: The Sindh cabinet has approved allotting 250 acres of land in the Manjhand area in District Jamshoro for setting up a solar park having a generation capacity of 500 MWs of clean electricity.The provincial cabinet, whose meeting was chaired by the Sindh Chief Minister Syed Murad Ali Shah, also approved allotting 612 acres of land in District Central of Karachi for a solar park of 120 MWs generation capacity. The cabinet also approved the project of setting up a solar park having a production capacity of 150 MWs on…

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