ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has announced plans to take legal action against Distribution Companies (DISCOs) for contributing Rs276 billion to the circular debt through increased Transmission and Distribution (T&D) losses in FY 2023-24. This move follows a Circular Debt report for June 2024, reviewed by Nepra. The report reveals that DISCOs’ T&D losses rose to 18.31%…
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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…
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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,…
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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…
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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…
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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…
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Thick, black and toxic smog engulfed the skies of Pakistan as unprecedented pollution levels continued to make the lives of citizens difficult. The smog is now visible from space, satellite imagery from NASA’s worldview showed. The satellite imagery showed a huge cloud of grey smog that blankets Pakistan’s Punjab province. This comes days after some cities in Pakistan logged record-breaking pollution…
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Pakistan is seeking the re-profiling of over $27 billion in debt and liabilities owed to China, Saudi Arabia and the United Arab Emirates (UAE) to secure an International Monetary Fund (IMF) bailout package and ease consumer tariffs and energy sector foreign exchange outflows, reported Pakistani publication Dawn on Monday. Pakistani Finance Minister (FM) Muhammad Aurangzeb on Sunday said that Islamabad had already…
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China’s emergence as a world factory has induced developed states to seek protectionism to spur industrialisation, arguing that the country’s overcapacity’ is a strategic risk to their market economies. Instead of pursuing financial globalisation like many nations, Beijing had earlier mainly focused on industrialisation, which led to growth in all other sectors of the economy. Now, many policymakers and economists…
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Abu Dhabi, UAE/Baku, Azerbaijan, 11 November 2024 – As COP29 opens in Baku, the International Renewable Energy Agency (IRENA) has released its 2024 World Energy Transitions Outlook, urging countries to significantly strengthen their climate commitments in the upcoming third round of Nationally Determined Contributions (NDCs) in 2025. Current climate pledges fall short of what is required to limit global warming…
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