Month: November 2024

Business Seeks Clarity Amid Mixed Messages from COP29 on Climate Goals

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Cop-29

BAKU – The COP29 climate summit in Azerbaijan concluded with agreements on climate finance and carbon market frameworks, but lingering uncertainties leave businesses seeking more concrete details. While the summit pledged $300 billion annually in climate finance by 2035 and advanced rules for carbon offset trading, the outcomes remain insufficient for many developing nations and private sector stakeholders. Key Outcomes and Challenges:Finance Commitments: The $300 billion annual climate finance target prioritizes vulnerable nations but lacks interim milestones. Multilateral development banks pledged $65 billion annually from private investment, yet specifics on…

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Criticism Mounts Over Exclusion of Net-Metering from Winter Electricity Package

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NEPRA-KE

ISLAMABAD – Business and industry groups have criticized the government’s decision to exclude solar net-metered consumers from its winter electricity package, urging the authorities to ensure K-Electric passes the benefits to Karachi’s residents. During a public hearing by the National Electric Power Regulatory Authority (Nepra), stakeholders raised concerns about delayed implementation, with nearly 20 days of the three-month package already lapsed. Business representatives questioned the government’s decision to apply reduced rates retroactively. Key Points Raised:KE’s Role Under Scrutiny: Karachi Chamber of Commerce and Industry’s Tanveer Bari accused K-Electric (KE) of…

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Power Tariff to Rise by 26 Paise Per Unit in December: Nepra

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Power Division

ISLAMABAD – The National Electric Power Regulatory Authority (Nepra) announced on Tuesday that the negative fuel cost adjustment (FCA) requested by ex-Wapda distribution companies (Discos) would result in an effective tariff increase of 26 paise per unit in December. During a public hearing, Nepra revealed that while the Central Power Purchasing Agency (CPPA) proposed a reduction of Rs1.02 per unit for October’s FCA, the expiration of the current Rs1.28 per unit negative FCA in November would lead to the effective increase. Key Insights: Power Supply & Costs: October’s power supply…

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Celebrate Eid Al Etihad 53 in Dubai with Spectacular Experiences

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Eid-Al-Etihad

Dubai, UAE – Dubai is set to dazzle this Eid Al Etihad 53 with an exciting lineup of experiences, ensuring an unforgettable long weekend from November 28 to December 3. Visitors and residents can immerse themselves in the festive spirit with: Breathtaking Fireworks: Witness stunning displays illuminating Dubai’s skies on December 1, 2, and 3 across iconic city locations.Vibrant Cultural Shows: City Walk will host over 200 performers, including flag bearers, acrobats, and traditional bands, delivering a unique cultural extravaganza.Live Music Extravaganzas: Enjoy Jalsat Moments featuring Arabic singers at Coca-Cola…

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Fuel shortage looms over Lahore, Islamabad & Pindicc

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fuel

ISLAMABAD: A potential fuel shortage looms over Lahore, Islamabad, and Rawalpindi as restrictions on city access are hindering the transportation of fuel tankers. Oil Contractors Association said that when contacted with the Oil and Gas Regulatory Authority (OGRA), the authority also expressed concern over the situation, warning that it could lead to disruptions in the supply of petroleum products. Oil transporters said that OGRA is actively working with local authorities to address the issue and ensure a smooth supply of fuel. However, the organisation has urged the public to support…

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