Author: Admin

ADB Meets Minister: Investment Sought to Ready Discos for Privatisation

Admin
Asian-bank

ISLAMABAD — Minister for Power Sardar Awais Khan Leghari has called on development partners, including the Asian Development Bank (ADB), to invest in preparing Pakistan’s power Distribution Companies (Discos) for privatisation. The minister shared this proposal during a meeting with an ADB delegation led by Country Director Xiaoqin (Emma) Fan. Discussions centered on energy sector collaboration, with Leghari commending ADB’s contributions to Pakistan’s energy development, especially in transmission infrastructure. The minister outlined the government’s reform plans, noting the establishment of the Power Planning and Monitoring Company (PPMC) to provide policy…

Read More

Global CO2 Emissions to Reach Record High in 2024, Escalating Climate Risks

Admin
Global-CO2

BAKU, AZERBAIJAN — Global carbon dioxide emissions are projected to reach an unprecedented 41.6 billion metric tonnes in 2024, intensifying the risks posed by climate change, scientists warned at COP29. The Global Carbon Budget report, released at the UN climate summit, highlights a 1 billion tonne increase from last year’s emissions of 40.6 billion tonnes. Emissions from fossil fuels—coal, oil, and gas—will contribute 37.4 billion tonnes, up by 0.8% from 2023. The remaining emissions stem from land-use factors like deforestation and forest fires. Compiled by over 80 institutions and led…

Read More

FPCCI Calls for Unrestricted Access to Winter Power Relief for SMEs

Admin
Qurrat-Ul-Ain

KARACHI — The Federation of Pakistan Chambers of Commerce and Industry (FPCCI), through its Acting President Qurrat Ul Ain, has urged the government to extend its winter electricity relief package to small and medium enterprises (SMEs) without the 100,000-unit consumption condition from the prior year. Qurrat Ul Ain suggested that the Rs26/kWh rate apply to all incremental units consumed beyond this threshold, allowing SMEs and newer industries to benefit equally alongside larger companies. She noted that this restriction could hinder the package’s effectiveness by disadvantaging smaller businesses, limiting growth in…

Read More

Petroleum Prices Set to Rise by Up to Rs5.90 Per Litre from November 16

Admin
petrol-price

ISLAMABAD — The federal government is expected to increase petroleum product prices by up to Rs5.90 per litre for the upcoming fortnight, effective November 16. Sources indicate that the ex-depot price of petrol may rise by Rs2.58 per litre, from Rs248.38 to Rs250.96. High-speed diesel (HSD) could see a more substantial increase of Rs5.91 per litre, moving from Rs255.14 to Rs261.05. Kerosene oil is projected to increase by Rs5.54 per litre to Rs167.08, while light diesel oil (LDO) may go up by Rs5.90 to Rs153.41 per litre. These adjustments are…

Read More

Major Development Banks Pledge $120 Billion for Climate Finance by 2030 at COP29

Admin
cop-29-1

BAKU — The COP29 summit received a promising early boost as major development banks, including the World Bank, pledged to increase climate finance to $120 billion by 2030. This commitment represents a 60% rise from 2023 funding levels, aimed at supporting developing and middle-income countries grappling with the impacts of global warming. “This is a positive step,” noted Irish Climate Minister Eamon Ryan, who emphasized that further contributions from governments and corporations are essential. China has also mobilized $24.5 billion to assist developing nations, Vice Premier Ding Xuexiang reported, reflecting…

Read More