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ISLAMABAD: The United Nations Economic and Social Commission for Asia and the Pacific (UN-ESCAP) will provide policy advisory and technical support on energy financing to assist Pakistan in developing its Energy Transition Investment Plan (ETIP), aimed at accelerating the country’s shift towards a sustainable and resilient energy future. At the request of the government, a UN-ESCAP scoping mission recently visited Pakistan and held consultations with relevant ministries and development partners to assess the country’s needs, challenges, and opportunities related to energy transition financing. According to UN-ESCAP, the mission helped identify…

Tesla has ceded its position as the world’s largest electric vehicle maker to China’s BYD after global deliveries fell for a second consecutive year, as intensifying competition, the expiry of US tax incentives and brand-related challenges weighed on demand. While global EV sales rose 28 per cent last year, BYD overtook Tesla on an annual basis for the first time, driven largely by rapid growth in Europe and expanding overseas sales. The development has raised questions over Tesla’s ability to stabilise its core auto business even as it pivots toward…