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Solar systems from Sindh will only cost Rs 7,000!

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7 months ago

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The World Bank and the Sindh government have announced plans to work together to provide the people with entire solar systems for a mere Rs7,000.

The goal of this project is to address the province’s energy problems and offer sustainable electrical alternatives to all families.

This initiative would provide entire solar systems to 200,000 families in Sindh, including 50,000 in Karachi, for a modest fee of Rs 7,000. Households can benefit from critical illumination and ventilation, as each solar system is built to power a fan and three LED bulbs.

According to the director of alternative energy in Sindh, 6,656 solar systems would be placed in every district of the province, resulting in a significant distribution effort in all areas. With solar panels, charge controllers, and batteries included in the system package, the project is scheduled to start in October as soon as the purchase is finalized.

Future growth of the project is possible thanks to funding from the World Bank, which has provided $32 million for it.

As evidence of its dedication to renewable energy sources, Sindh has already begun producing 400MW of electricity from solar power.

However, plans to give away free solar systems to 50,000 Punjabi homes have been revealed by the provincial government. The province government has fully sponsored this effort, which has an estimated cost of Rs10 billion and is intended to lower electricity bills for low-consumption homes.

Families with monthly electricity use of up to 100 units are eligible for the free solar systems under the program. All costs, including those associated with purchasing and installing the solar systems, will be met by the government.

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In interbank trade, the Pakistani rupee beats the US dollar.

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6 days ago

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In the international exchange market, the US dollar has continued to weaken in relation to the Pakistani rupee.

The dollar fell to Rs278.10 from Rs278.17 at the beginning of interbank trading, according to currency dealers, a seven paisa loss.

In the meantime, there was a lot of turbulence in the stock market, but it recovered and moved into the positive zone. The KSE-100 index recovered momentum and reached 116,000 points after soaring 1,300 points.

Both currency and stock market swings, according to analysts, are a reflection of ongoing market adjustments and economic uncertainty.

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Phase II of CPEC: China-Pakistan Partnership Enters a New Era

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7 days ago

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The cornerstone of economic cooperation between the two brothers and all-weather friends is still the China-Pakistan Economic Corridor, the initiative’s flagship project.

In contrast to reports of a slowdown, recent events indicate a renewed vigour and strategic emphasis on pushing the second phase of CPEC, known as CPEC Phase-2, according to the Ministry of Planning, Development, and Special Initiatives.

According to the statement, this crucial stage seeks to reshape the foundation of bilateral ties via increased cooperation, cutting-edge technology transfer, and revolutionary socioeconomic initiatives.

Planning Minister Ahsan Iqbal is leading Pakistan’s participation in a number of high-profile gatherings in China, such as the 3rd Forum on China-Indian Ocean Region Development Cooperation in Kunming and the High-Level Seminar on CPEC-2 in Beijing.

His involvement demonstrates Pakistan’s commitment to reviving CPEC, resolving outstanding concerns, and developing a strong phase-2 roadmap that considers both countries’ long-term prosperity.

At the core of these interactions is China’s steadfast determination to turn CPEC into a strategic alliance that promotes development, progress, and connectivity.

Instead of being marginalised, CPEC is developing into a multifaceted framework with five main thematic corridors: the Opening-Up/Regional Connectivity Corridor, the Innovation Corridor, the Green Corridor, the Growth Corridor, and the Livelihood-Enhancing Corridor.

With the help of projects like these, the two countries will fortify their partnership, and CPEC phase-2 will become a model of global economic integration and collaboration that benefits not just China and Pakistan but the entire region.

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The inflation rate in Pakistan dropped to its lowest level.

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On December 2, core inflation as determined by the Consumer Price Index (CPI) significantly slowed, falling to 4.9% in November 2024 from 7.2 percent in October 2024.

The CPI-based inflation rate for the same month last year (November 2023) was 29.2%, according to PBS data.

Compared to a 1.2% gain in the prior month, it increased by 0.5% month over month in November 2024.

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