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Time to Act: Experts Call for Climate Finance Reforms

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Climate-Finance1

ISLAMABAD: Climate and finance experts have urged comprehensive reforms in both public and private sectors to mobilize crucial funding for climate action, particularly for adaptation measures. Speaking at DawnMedia’s Breathe Pakistan International Climate Change Conference, World Bank Global Director for Climate Change, Valerie Hickey, stressed the need for subsidy reforms to unlock climate finance. She highlighted that while $1 billion…

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Pakistan, Turkiye Set to Sign MoUs to Boost Economic, Agricultural Ties

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Pak-Turk

ISLAMABAD: Pakistan and Turkiye are poised to strengthen economic cooperation with multiple memoranda of understanding (MoUs), particularly in the agriculture sector, during President Tayyip Erdogan’s upcoming visit to Pakistan. Senior officials from both countries’ ministries of national food security and agriculture met on Wednesday to draft an action plan for future collaborations in agriculture and livestock. Pakistan invited Turkiye to…

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Pakistan’s First-Ever ‘Made in Pakistan’ Expo Opens in Jeddah

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Pak-Exhibition

ISLAMABAD: Commerce Minister Jam Kamal Khan on Thursday inaugurated the first-ever ‘Made in Pakistan’ exhibition in Jeddah, marking a milestone in Pakistan-Saudi trade relations. Addressing an audience of Saudi officials, business leaders, and diplomats, the minister emphasized the importance of strengthening economic ties and showcasing Pakistan’s diverse industrial capabilities. According to the Ministry of Commerce, the exhibition features Pakistan’s top-quality…

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Petroleum Minister Advocates Mixed Pricing to Prevent Sectoral Bankruptcy

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musadik-malik

ISLAMABAD: Petroleum Minister Dr. Musadik Malik has warned of potential “isolated bankruptcies” in the petroleum sector unless a weighted average price mechanism is introduced for imported, piped, and wellhead gas. He emphasized that rationalizing electricity rates would encourage a transition in transport, cooking, and heating sectors. Speaking before the National Assembly’s Standing Committee on Petroleum, Dr. Malik criticized the PTI…

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$300 million deals in energy, coal, and cement inked between China, Pakistan

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BEIJING: President Asif Ali Zardari on Thursday witnessed the signing of Memorandums of Understanding (MoUs) worth more than $300 million in the energy, coal, and cement sectors in Beijing. The agreements, signed between Pakistani stakeholders and Chinese investors, aim to enhance the country’s industrial growth and energy sustainability. The Energy Department of the Government of Sindh and Ming Yang Renewable…

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Pakistan, China sign MoUs to enhance cooperation in clean energy, construction

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china pakistan

Pakistan and China signed multiple memorandums of understanding (MoUs) Thursday to enhance cooperation in different fields, including renewable energy, fertiliser and construction. An MoU was signed between Pakistan’s Thatta Cement Company and China’s Qing Gong Construction Group, under which a production line will be set up in Pakistan to increase cement production by 5,000 tonnes per day. Another MoU was…

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Oil firms slightly as Trump policies continue to drag on prices

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Oil prices

LONDON: Oil prices edged up on Thursday after Saudi Arabia’s state oil company raised its March crude prices sharply, but the gains barely dented the previous day’s slide in benchmark Brent crude. Brent crude futures rose 28 cents, or 0.4%, to $74.89 a barrel by 1251 GMT. U.S. West Texas Intermediate crude was up 29 cents, also 0.4%, at $71.32.…

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Pakistan Issues Licences to 57 EV Manufacturers to Drive Green Transition

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Green-Transition

Islamabad: The government has granted licences to 57 electric vehicle (EV) manufacturers, marking a major step towards a cleaner and more sustainable transportation system. This initiative aligns with the National Electric Vehicles Policy (NEVP) 2019, which aims for 30% of all passenger vehicles and heavy-duty trucks to be electric by 2030, increasing to 90% by 2040. The policy also targets…

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Shocking Truth: Pakistan’s Electric Vehicle Goals May Be Unrealistic”

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electrical-vehicles

Renowned automobile expert Sunil Sarfraz Munj, co-founder of PakWheels, has expressed skepticism about Pakistan’s ability to achieve its target of electric vehicles (EVs) making up 30% of the total vehicle market. In a recent podcast, Munj cited the lingering electricity crisis in many parts of the country as a major obstacle. He emphasized that EVs are not a viable option…

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Call to Accelerate Carbon Policy for Greater Impact

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Carbon-Policy

Lahore: Pakistan’s National Carbon Market Policy, launched in November 2023, reflects the country’s commitment to emission reductions, but lags behind regional counterparts in ambition, sector coverage, and global integration, potentially limiting its ability to attract climate finance and investment, say garment manufacturers and exporters. Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) Regional Chairman Dr. Ayyaz Uddin highlighted that while…

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