Author: Admin

UK-Pakistan Green Compact launched to boost climate resilience, clean energy

Admin
Pak-UK

ISLAMABAD: Pakistan and the United Kingdom have launched the UK-Pakistan Green Compact, a new partnership aimed at strengthening climate resilience, accelerating the clean energy transition and promoting nature-based solutions, including mangrove conservation. The agreement was signed in Islamabad by Federal Minister for Climate Change and Environmental Coordination Musadik Malik and UK Minister for International Development Jennifer Chapman. Under the Compact, the UK will provide £35 million (about $44 million) in targeted support for green development and long-term climate action. Officials described the initiative as a shift from policy dialogue to…

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Power Division, KE locked in dispute over tariff differential subsidy payments

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K-Electric-3

ISLAMABAD: The Power Division and K-Electric (KE) are at odds over the payment of Tariff Differential Subsidy (TDS), with the utility insisting that subsidies be released on the basis of original tariff determinations, while the Power Division maintains that payments must follow NEPRA’s revised determinations, sources told Business Recorder. The dispute has intensified through a series of letters exchanged between the two sides, each citing differing legal interpretations and court references. KE argues that interim stay orders issued by the Sindh High Court (SHC) bar the enforcement of NEPRA’s revised…

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Three bidders remain as PIA privatisation bids open Tuesday

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PIA-Airlines

ISLAMABAD: The Privatisation Commission is set to receive bids for a 75 per cent stake in Pakistan International Airlines Corporation Ltd (PIAC) on December 23, with three bidders remaining in the race following the withdrawal of Fauji Fertiliser Company Ltd. According to the commission’s programme, bids will be submitted between 10:45am and 11:15am and opened at 3:30pm in a process to be broadcast live on television. The bidders include two local consortiums—one led by Lucky Cement, Hub Power Holdings, Kohat Cement and Metro Ventures, and another comprising Arif Habib Corporation,…

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SITE Leaders Laud Sindh Govt’s Rs9.28bn Initiative to Revive Industrial Zones

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site-association

Karachi: The industrialists of SITE have warmly welcomed the Sindh government’s approval of a Rs9.28 billion package aimed at reviving the infrastructure of Karachi’s industrial areas, calling it a timely and industry-friendly decision that will boost production, exports, and investment. Patron-in-Chief of the SITE Association of Industry (SAI), Zubair Motiwala, lauded Chief Minister Syed Murad Ali Shah for what he described as a “historic and commendable initiative,” saying the long-awaited funding would help resolve chronic infrastructure bottlenecks that have hampered industrial growth for years. He added that transparent utilisation of…

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BYD Hosts Climate Dialogue, Highlights Clean Transport as Key to Smog Reduction

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New-Project99

LAHORE: Pakistan’s worsening air quality and the urgent need for cleaner transport solutions were in focus at a climate action dialogue hosted by BYD Pakistan–Mega Motor Company (MMC) this week. Citing IQAir data, speakers noted that Pakistan remains among the world’s most polluted countries, with average PM2.5 levels far exceeding World Health Organisation (WHO) guidelines. In major cities such as Lahore, winter smog routinely pushes pollution to hazardous levels, posing serious public health and economic challenges. Participants referred to research by the Pakistan Institute of Development Economics (2024), which shows…

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