Category: Shortcode

Clashes over fossil fuels, Gaza war at COP28 climate summit

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climate-summit

Israel’s assault on Gaza resumes the day after the summit reaches an agreement over a long-sought rehabilitation fund UN Secretary-General Antonio Guterres has urged world leaders at the COP28 climate summit to plan for a future without fossil fuels, saying there was no other way to curb global warming. Speaking a day after COP28 President Sultan Ahmed al-Jaber proposed embracing the continued use of fossil fuels, Guterres said: “We cannot save a burning planet with a fire hose of fossil fuels.” KEEP READING Who’s attending COP28 in Dubai — and…

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Govt bans issuance of LOIs for hydropower projects

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Karot-Hydropower

ISLAMABAD: The Federal government has reportedly slapped ban on issuance of Letters of Interest (LoIs) for hydropower projects with immediate effect and till issuance of guidelines for future, besides starting a probe of business of sale/ purchase of LoIs, sources close to Managing Director PPIB told Business Recorder. Sharing the details, sources said, Executive Committee (EC) of the Special Investment Facilitation Council (SIFC) as constituted under the Board of Investment Ordinance, 2001 (amended through Board of Investment Act 2023), in its sixth meeting held on October 23-24, 2023 constituted a Working…

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UAE launches new $30bn climate investment fund at COP28

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Pak-UAE

DUBAI: The United Arab Emirates said Friday it is launching a new $30 billion private investment fund focused on climate projects in developing countries. The oil-rich host of the crunch United Nations COP28 climate negotiations in Dubai said it hopes the fund, called Alterra, will stimulate investments totalling $250 billion by 2030. “I am pleased to announce the establishing of a $30 billion fund for global climate solutions,” UAE President Sheikh Mohamed bin Zayed Al Nahyan told the summit. COP28 president Sultan Al Jaber, who is also head of the…

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Kakar underscores Pak pledge to address climate change challenges

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Anwaarul-Haq

ISLAMABAD: Prime Minister Anwaar-ul-Haq Kakar on Friday visited the Pakistan Pavilion at COP28 in the UAE, emphasizing the critical nature of ongoing climate negotiations. During the visit, the prime minister appreciated the Pakistan delegation for its noteworthy efforts in contributing to the negotiations and facilitating the operationalization of Loss and Damage Fund. Notably, the prime minister took a moment to acknowledge the significance of Climate Chronicles Art exhibition by 19 Pakistani artists on our changing world at the Pakistan Pavilion, recognizing the power of artistic expressions in conveying messages about…

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Only photovoltaic cells exempted from sales tax: FBR

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fbr

ISLAMABAD: The Federal Board of Revenue (FBR) has clarified that the exemption of sales tax previously available on import and supply of solar panels and accessories was withdrawn and subsequently restored to the extent of photovoltaic cells only. According to a legal clarification issued by the FBR Policy Wing, the exemption of sales tax on import and supply of solar panels and accessories was available till 15th January, 2022. However, through changes introduced vide Finance (Supplementary) Act, 2022 by the legislature empowered under Article 77 of the Constitution and as…

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