Author: Admin

Pakistan, Norway Sign Landmark Carbon Trading Deal Under Paris Agreement

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New-Project1

ISLAMABAD: Pakistan and Norway have signed their first bilateral carbon trading agreement under Paris Agreement Article 6.2, marking a major step toward accessing international carbon markets and climate finance. The memorandum of understanding, signed under the Ministry of Climate Change and Environmental Coordination, signals Pakistan’s transition from policy planning to implementation in carbon trading. Federal Minister Musadik Malik termed the agreement a milestone, stating it would move the country from “readiness to execution” in climate cooperation. Under the deal, Pakistan will develop projects generating carbon credits across key sectors including…

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PM Shehbaz Rejects New Oil Pricing Formula Amid Industry Fears of Fuel Crisis

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ISLAMABAD: Prime Minister Shehbaz Sharif has rejected a proposed new oil pricing formula, siding with industry concerns that warned of a potential fuel crisis if the revised framework were implemented. The proposal, put forward by former petroleum minister Musadik Malik—now serving as Minister for Climate Change—was based on an oil inventory cost mechanism. However, it faced strong resistance from the oil industry, which flagged serious risks to supply stability and financial viability. According to sources, the prime minister, during a high-level meeting, directed Musadik Malik not to interfere in petroleum…

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Karachi Receives Rain as Emergency Declared Amid Forecast of Heavy Showers

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Karachi-rain

KARACHI: Rainfall began across Karachi and surrounding areas on Thursday as a strong westerly weather system moved into the region, prompting authorities to declare a rain emergency across the city. According to the Pakistan Meteorological Department, showers were recorded in multiple areas including Quaidabad, Malir, PAF Faisal Base, and Jinnah Terminal early in the day. Light rain was also observed in Gulshan-i-Maymar, while heavier spells hit Gulistan-i-Jauhar, Saddar, Clifton, Garden, and Keamari. Weather radar indicated intense rainfall over northern parts of the city, with isolated hailstorms reported. The Met Office…

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Energy Price Surge Drives March Inflation to 7.3%

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New-Project

ISLAMABAD: Consumer inflation in Pakistan rose to 7.3% in March, up from 7% in February, continuing an upward trajectory largely fueled by rising energy costs linked to the ongoing Middle East conflict. According to the Consumer Price Index (CPI) data released by the Pakistan Bureau of Statistics (PBS), higher domestic energy tariffs played a key role in pushing inflation beyond earlier expectations. The Finance Ministry had already projected inflation to fall within the 7.5% to 8.5% range, citing escalating energy prices due to geopolitical tensions. The impact is expected to…

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Trump Signals Imminent End to Iran Conflict While Warning of Intensified Strikes

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Trump-Edges

WASHINGTON: Donald Trump has indicated that the ongoing US-Israeli military campaign against Iran could conclude within weeks, even as he warned of an escalation in attacks before any resolution is reached. In a 19-minute prime-time address from the White House, Trump described the operation as a “decisive, overwhelming victory” and said the United States was “very close” to completing its objectives. “We are going to hit them extremely hard over the next two to three weeks,” he said, while adding that discussions were ongoing without outlining any clear diplomatic framework…

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