Pakistan lacks a central mechanism for monitoring energy efficiency in its steel sector, making it difficult to measure progress or tap into global green financing and carbon credit opportunities, according to a new World Bank report. The report, titled Steel Sector: Energy Efficiency and Decarbonisation, released under the Pakistan Sustainable Energy Series, highlights several barriers hinder
Pakistan on Thursday reaffirmed its commitment to a clean energy transition, pledging to achieve 60pc renewable energy generation and 30pc electric vehicle penetration by 2030, while urging greater regional cooperation on electricity trade and connectivity under the Shanghai Cooperation Organisation (SCO) framework. Addressing the SCO Energy Ministers’ Conference virtually, Federal Minister for
The foreign exchange reserves of the State Bank of Pakistan (SBP) dropped sharply by $2.7 billion in a week, falling to a three-year low and indicating that the $14bn target for FY25 will not be achieved. The SBP reported on Thursday that during the week ending June 20, its reserves decreased by $2.657bn to $9.064bn due to external debt repayments by the government, primarily for commercial bor
The Financial Action Task Force (FATF) has called for urgent global measures to address growing risks of money laundering (ML), terror financing (TF), and proliferation financing (PF) linked to virtual assets (VAs) and virtual asset service providers (VASPs). This call comes as Pakistan continues its accelerated push towards regulating digital currencies. While the country has conducted risk as
As banners condemning the proposed Finance Bill 2025-26 appeared across Karachi, businessmen voiced strong opposition to both the federal government’s tax proposals and the Sindh government’s planned minimum wage hike, warning of serious consequences for the industrial and export sectors. The Sindh government has proposed raising the minimum monthly wage to Rs42,000 from the existing Rs37,000 —