Category: Latest News

KARACHI: Sindh Chief Minister Syed Murad Ali Shah on Thursday launched the Sindh Coastal Resilience Project (SCRP), a $311 million (approximately Rs87 billion) climate adaptation and development initiative aimed at protecting vulnerable coastal communities, restoring ecosystems and strengthening livelihoods across Thatta, Sujawal and Badin. The project is being implemented through a partnership between the Sindh government, the International Fund for Agricultural Development (IFAD), Asian Development Bank (ADB) and Green Climate Fund (GCF). The launch ceremony, held at the CM House, was organised by Planning & Development (P&D) Board Chairman Najam…

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ISLAMABAD: Pakistan could save more than $1 billion in gross fuel imports by adding around 30,000 range-extended electric vehicles (REEVs) annually for five years, according to industry analysts. Under the scenario, the national REEV fleet would reach 150,000 vehicles, cumulatively replacing an estimated 1.2 billion litres of petrol and avoiding around 2.7 million tonnes of operational carbon emissions compared with an equivalent fleet of petrol-powered vehicles. The actual savings and emissions reductions, however, would depend on factors including vehicle mileage, charging sources and the proportion of travel powered by electricity.…

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ISLAMABAD: Pakistan’s inflation eased to 10.3pc in September, but remained in double digits as rising electricity and fuel prices offset a significant moderation in food inflation. According to data released by the Pakistan Bureau of Statistics (PBS), prices in the energy group continued to rise on a year-on-year basis, keeping overall inflation above the government’s expectations. The monthly inflation rate also increased by 1.3pc, marking its highest monthly pace since April. The latest figures came as Pakistan briefed the International Monetary Fund (IMF) on the inflation outlook amid continued price…

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ISLAMABAD: Pakistan has strongly condemned an alleged Houthi attack on the Taibah power distribution station in Madina on September 29, calling it a “grave provocation” and a threat to regional peace and security. In a statement on Friday, the Foreign Office (FO) said the facility was part of the civilian infrastructure supplying electricity to the Holy Prophet’s (PBUH) Mosque. “The sanctity of the Two Holy Mosques and the safety of worshippers and pilgrims must be respected under all circumstances,” the FO said, calling for an “immediate and unconditional” end to…

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NEW YORK: Oil prices surged by more than $4 a barrel on Thursday as concerns over potential disruptions to global fuel supplies intensified following reports of increased US military deployments to the Middle East and China’s suspension of oil-product exports. The new front-month December Brent crude futures contract settled at $102.31 per barrel, up 4.37pc, or $4.28. US West Texas Intermediate (WTI) crude futures ended at $92.87 per barrel, gaining 2.71pc, or $2.45. According to a Wall Street Journal report, the United States was preparing to send a third aircraft…

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