Author: Admin

POL Sales See 2% Rise; Exports to Europe Up by 16%

Admin
oil and gas

Pakistan’s petroleum product sales and daily oil and gas production recorded a 2% increase during the first four months of the current fiscal year, with POL sales reaching 5.18 million tons from July to October. Data from Petroleum Information Services indicated that the average daily crude oil production for the week ending October 31 stood at 65,582 barrels, up from 64,467 barrels the previous week. Daily gas production also rose, averaging 2,737 MMCFD, an increase from 2,694 MMCFD. Additionally, the State Bank reported a 16.23% increase in exports to Western…

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US Climate Commitment Stands Beyond Elections, COP29 Told

Admin
Cop-29

BAKU: As COP29 commenced on Monday, U.S. climate envoy John Podesta reassured global leaders that efforts to address climate change would persist despite Donald Trump’s re-election. The summit, held from November 11-22, faces heightened uncertainty following Trump’s victory, with the incoming administration expected to reconsider the Paris climate agreement. Podesta emphasized that even if federal action slows, U.S. states, cities, and citizens remain committed to the climate fight. “The work to contain climate change is bigger than one election or political cycle,” he stated. Opening the conference, UN climate chief…

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Govt Proposes NEV Policy 2025-30 to Boost Eco-Friendly Transport with Tax Breaks

Admin
Eco-Friendly

ISLAMABAD: The government has initiated consultations on the New Energy Vehicle (NEV) Policy 2025-30, designed to transform Pakistan’s transportation sector and reduce carbon emissions. The Ministry of Industries held a meeting on Monday with automakers to discuss the policy’s framework, which aims to promote local NEV production, decrease reliance on fossil fuels, and lower emissions. The proposed policy includes incentives such as tax breaks, reduced import duties on NEV components, and green financing options to encourage investments in sustainable technologies. However, some industry representatives expressed concerns that the high costs…

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75 Years of Greener Together – Denmark and Pakistan Celebrate Diplomatic Milestone and GreenPartnerships

Admin

Islamabad, Monday, 11 November 2024 – To celebrate 75 years of diplomatic relations betweenDenmark and Pakistan, the Embassy of Denmark hosted a special reception under the theme “75Years of Greener Together.” The evening underscored a dual purpose – celebrating the endurinpartnership between the two nations and reaffirming their commitment to a greener, moresustainable future.Hosted by H.E. Jakob Linulf, Danish Ambassador to Pakistan, at his residence, the event welcomeda high-level delegation from Denmark, led by Denmark’s State Secretary, Ms. Lisbet Zilmer-Jones,alongside key dignitaries from Pakistan, including the Pakistani Federal Minister of…

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Pakistan creates 20 new trade posts in China to boost exports, investment

Admin
pak-china

The Pakistani government has approved 20 new positions within its Trade Mission in China to boost exports, attract foreign investment, and support efforts to relocate Chinese industries to Pakistan. This initiative addresses the $12 billion trade deficit, with Pakistan’s 2023-24 exports to China at $2.56 billion and imports at $14.51 billion. Following a directive from the Prime Minister and consultations between key ministries, the ECC endorsed a supplementary grant of Rs 226.7 million for these roles. This funding, part of a broader Rs 5.5 billion allocation for trade missions, is…

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