Islamabad, Oct 31: Climate Change May Slash Pakistan’s GDP by 21% by 2070, Warns ADB. According to the Asian Development Bank (ADB), under a high-end emissions scenario, climate change might reduce Pakistan’s GDP by 21.1 percent by 2070. According to the Bank’s most recent report, “Asia-Pacific Climate Report 2024, Catalyzing Finance and Policy Solutions,” under a high-end emissions scenario, climate change could cause a 17 percent GDP decline in Asia and the Pacific by 2070, which could increase to 41 percent of GDP by the end of the century. The most detrimental climate effects are expected to be labor productivity…
Author: Iqra Khan
Islamabad, Oct 31: Telenor Pakistan Reports 6.7% Revenue Growth, Reaching Rs. 30.11 Billion in Q3 2024.In the third quarter of 2024, Telenor Pakistan reported revenue growth of 6.7% year over year, coming in at Rs. 30.11 billion as opposed to Rs. 28.2 billion in the same quarter of 2023. While going through a disposal process in Q3 2024, the company resumed strong EBITDA growth despite challenging macro conditions. According to its third-quarter 2024 report, Telenor Pakistan demonstrated sustained increase in service revenues in Asia, with organic growth of 8%. This growth was primarily driven by the company’s ongoing monetization strategy,…
Islamabad, Oct 31: The German embassy in Islamabad celebrates German Unity Day 2024. The Embassy of the Federal Republic of Germany in Islamabad joyously observed German Unity Day today in a garden reception. This auspicious occasion commemorates the formal reunification of East and West Germany on 3rd October 1990, culminating in the end of 41 years of separation and uniting Germans into one cohesive nation. In his address, His Excellency Alfred Grannas, the German Ambassador, underscored the historical significance of German reunification, highlighting the remarkable achievements and progress made since that pivotal moment. The event, graciously hosted by the German…
Islamabad, Oct 31: Saudi Arabia Launches ‘Global Harmony’ Initiative to Promote Cultural Integration and Inclusivity Under Vision 2030. The “Global Harmony” program was introduced by the Saudi Ministry of Media on Wednesday evening in Al-Suwaidi Park as a component of the Kingdom’s “Quality of Life” Program, which is a fundamental component of the Vision 2030 goals. By demonstrating the social and cultural integration of groups from all origins and the Kingdom’s dedication to fostering an inclusive and dynamic society, this project will contribute to illuminating the varied lives of Saudi Arabian citizens. The ministry hopes that by sharing experiences from…
Islamabad, Oct 31: PM and Amir of Qatar Explore Pakistani Artwork at National Museum of Qatar. On Friday, Prime Minister Muhammad Shehbaz Sharif and Amir Shiekh Tamim Bin Hamad Al-Thani toured the National Museum of Qatar’s “Manzar: Art and Architecture of Pakistan from 1940s to Today” gallery showcasing Pakistani artwork. The Prime Minister and the Amir of Qatar visited the museum jointly following bilateral delegation-level meetings. The prime minister was shown the exhibition’s artwork by the Amir of Qatar and his sister, Sheikha Al-Mayassa bint Hamad bin Khalifa al-Thani, who also serves as the Chairperson of Qatar Museums. In a…
Islamabad, Oct 31: The National Electric Power Regulatory Authority (NEPRA) concluded a public hearing on October 31, 2024, on the petition submitted by KE regarding provisional monthly fuel charge adjustments (FCA) for the month of September 2024. The expected relief of proposed FCA is PKR 247 million which will translate to PKR 0.16 per unit. Following the public hearing the regulator will issue a decision clarifying the FCA amount to be passed on to customer bills and the period for which they will be applicable. Fuel charge adjustments are incurred by utilities due to global variations in fuel prices used…
Islamabad, Oct 31: Speakers Advocate for Extension of CPEC into Afghanistan. At a conference held here on Thursday, speakers recommended that Pakistan prioritize moving closer to expanding the China-Pakistan Economic Corridor (CPEC) to Afghanistan. All of the presenters agreed that encouraging economic integration with neighbors and the surrounding area was essential to Pakistan’s economic recovery, expansion, and advancement. According to a press release, they agreed that CPEC, a defining feature of China’s Built and Road Initiative (BRI), should be utilized as a vital tool to improve regional energy, infrastructure, and trade/transit connections. All of the speakers agreed that the first…
Islamabad, Oct 31: Government Records Highest-Ever Petroleum Levy Collection in First Quarter of Fiscal Year. During July-September FY2024-25, the federal government collected the biggest petroleum development levy (PDL) ever collected in the first quarter of any fiscal year. The highest-ever first-quarter collection of Rs. 261.69 billion PDL was made by the federal government in 1QFY25. In comparison to the Rs. 222.07 billion PDL collected during the same period last year, this indicates a growth of Rs. 39.62 billion. For FY25, the petroleum levy objective is Rs. 1.281 trillion. For comparison, the amount collected in 2023–2024 was Rs. 1.019 trillion, up…
Islamabad, Oct 31: Petroleum Companies Allocate Only 22% of CSR Funds for Social Welfare Initiatives. Only 22% of petroleum companies’ corporate social responsibility (CSR) money have been used for social welfare, according to information presented Thursday to the National Assembly Standing Committee on Energy. Significant sums of CSR monies are still underused in every province. While Punjab has Rs. 1.31 billion with only Rs. 427.4 million spent thus far, Khyber Pakhtunkhwa has Rs. 1.44 billion that is unused. The committee was informed by the petroleum secretary that although 19 petroleum companies have been contributing CSR funds for community development on…
Islamabad, Oct 31: Faysal Bank Partners with Zaman Foundation to Provide Clean Drinking Water in Tharparkar. One of Pakistan’s top Islamic banks, Faysal Bank Limited (FBL), is honored to work with the Zaman Foundation to install a solar-powered reverse osmosis (R.O.) water filtration system that will provide the residents of Ramiyo Gajju with clean drinking water. In addition to resolving the village’s 78-year battle for clean drinking water, this project gives the people more power by promoting healthier living conditions and increasing involvement in sustainable development. Support from Faysal Bank for a cutting-edge solar-powered filtration plant is a prime example…
