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The World Bank gives Pakistan $1 billion.

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Details indicate that the World Bank has given the Dasu Dam’s development a $1 billion approval.

This funding will help local populations have better access to socioeconomic services, increase the amount of electricity produced by hydropower, and strengthen the Water and Power Development Authority’s (WAPDA) capacity to plan for future hydropower projects.

Dasu Town, the provincial headquarters of Khyber Pakhtunkhwa Province’s Upper Kohistan District, is approximately 8 km away from the DHP run-of-river project on the Indus River. It will be finished and have an installed capacity of 4,320–5,400 MW.

The project is being constructed in phases. With a 2,160 MW capacity, DHP-I will produce 12,225 gigawatt hours (GWh) of affordable renewable energy annually. The same dam will provide 9,260–11,400 GWh annually according to the DHP-II.

Rikard Liden, the project’s task team leader, stated that DHP-I is crucial to Pakistan’s ambitions to wean itself off of fossil fuels and achieve 60% renewable energy by 2031. By substituting domestic fuels for imported ones, the second additional funding may save Pakistan an estimated $1.8 billion a year and offset about 5 million tons of carbon dioxide. It will also enable the development of the electricity supply. It is estimated that DHP-I has an annual economic return of about 28%.

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ADB authorizes a $200 million loan for Pakistan to upgrade its power distribution system.

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A $200 million loan from the Asian Development Bank (ADB) has been authorized to update Pakistan’s power distribution system.

The project intends to improve data management and communication networks and deploy more than 300,000 smart metering equipment.

The project will involve improvements to voltage levels at SEPCO grid stations and monitoring systems for 15,500 transformers. LESCO plans to build or upgrade 25 grid stations with cutting-edge machinery. The initiative will reinforce income security, enhance demand management, and lower power losses, all of which will help to address

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Bulls recover from a sharp fall.

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The benchmark KSE-100 Index hovered at 111,005 points after rising more than 2000 points against the previous closing of 108,896 points, indicating that bullish momentum has returned to the Pakistan Stock Exchange (PSX) a day after a sharp bearish rally.

For the past month or so, the proverbial bulls have been galloping thanks to the cash infusion from the International Monetary Fund’s loan release and more discussions on climate funding.

The impending SBP policy rate-cutting meeting is another factor contributing to the current market mood. On December 16, the Central Bank’s Monetary Policy Committee is anticipated to convene.

Market analysts claim that the government’s decision to form a committee to address the outstanding problem of the Advances to Deposit Ratio (ADR) in the banking industry was the cause of the market’s abrupt collapse. However, the trend didn’t last long.

Following an extraordinary run of gains over the past month or so, the Pakistan Stock Exchange (PSX) reached a historic high of 100,000 points on November 30.

The KSE-100 index achieved one milestone after another in November 2024 amid recurring reports of economic stability, mainly due to the recent loan disbursement by the IMF.

The reassuring agreement with the international lender and Pakistan’s economic czar Muhammad Aurangzeb’s subsequent announcement ruling out a mini-budget boosted investor confidence in recent times.

The State Bank of Pakistan lowered the policy rate by 250 basis points to 15% on November 5.

Inflation dropped more quickly than anticipated and approached its medium-term target range in October, according to the SBP’s relevant committee.

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PSX 100-index reaches an unprecedented peak, exceeding 111,000 points.

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The Pakistan Stock Exchange (PSX) reached the significant milestone of 111,000 points shortly after today’s market opening.

The KSE-100 Index ascended by more than 1,000 points in the initial five minutes of trade, achieving a notable increase of 1,044 points to attain 111,014 points.

The increase indicates heightened investor confidence and a robust market sentiment.

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