According to a report by the Asian Development Bank (ADB) published on Sunday, Pakistan need about $390 billion in supplementary investments by 2050 to effectively transition to a low-carbon economy.

This substantial investment is essential to fulfill the nation’s international obligations on carbon emission reductions, especially through efforts like the coal-to-gas transition in the industrial sector, electrification of transportation, and substituting gas with electricity for cooking.

The research, entitled Pakistan Low-Carbon Energy Outlook and Technology Road Map, emphasizes that these energy growth initiatives will necessitate significant financial support.

The investment allocation indicates that hydropower generation will necessitate around $153 billion, nuclear power $103 billion, wind power $62 billion, and solar energy $51 billion.

Furthermore, $22 billion is required for transmission and distribution infrastructure to maintain a reliable electricity grid.

These investments supplement those necessary for the transportation and residential sectors, which are essential for attaining energy efficiency objectives. The ADB recognizes the challenges in obtaining such an ambitious investment program, as government finance will be inadequate, necessitating substantial financial support from both domestic and international private sectors. This may encompass equity financing, bank loans, bond offerings, and international financial aid.

The Manila-based loan organization remarked, “Attaining this level of funding will be difficult,” emphasizing the necessity for significant reforms to draw investment. The paper advocates for regulatory reforms, strong policy actions, and thorough planning to establish an investment environment favorable to this level of capital.

To achieve the ambitious objective of emission reduction, Pakistan needs execute a number of legislative actions that connect private sector incentives with environmental objectives.

The research emphasized the necessity of a conducive regulatory environment, coupled with an organized project preparation and execution system, to satisfy the demands of multilateral and bilateral donors.

The ADB’s analysis reveals that the low-carbon scenario will substantially diminish Pakistan’s greenhouse gas emissions, forecasting a 23% decrease by 2030 and a 36% reduction by 2050, relative to the business-as-usual trajectory.

The essential factor in attaining these reductions will be the shift to cleaner energy sources, including natural gas and renewables, especially within the industrial and transportation sectors.

Pakistan, among the most susceptible nations to climate change, urgently requires a balance between economic development and environmental sustainability.

The government has pledged to decrease national greenhouse gas emissions by 50%.

Following better visibility, a number of Punjabi roadways have reopened, a spokeswoman for the Motorway Police said.

According to Motorway Police spokesperson Imran Ahmed, Motorway M11 has reopened for traffic from Lahore to Kamonki, while Motorway M4 has also started up again. Additionally, Multan to Zahir Peer is now accessible via Motorway M5.

When driving, Motorway Police have asked drivers to use caution and follow safety procedures.

A multitude of flight cancellations and delays has resulted in considerable disruptions to air travel from Karachi and Lahore airports, leaving numerous passengers stuck and generating a ripple effect on both international and local routes.

Seventeen flights operated by different airlines have been cancelled in Karachi within the last 24 hours. Both international and national airlines were among those impacted.

Five foreign flights, including destinations such as Baku, Baghdad, Muscat, Colombo, and Doha, were cancelled due to a confluence of issues, including a dearth of aircraft among private airlines and insufficient passenger volume. The following flights were cancelled:

Flight 410 of an international carrier to Baghdad

Flight 152 to Colombo operated by an alternative international airline

Flight EK 605 to Dubai, conducted by a foreign carrier

Flight QR 611 to Doha has also been cancelled by an international airline.

PIA flight PK 503 to Gwadar has been affected. Private airline services had significant disruptions, resulting in the cancellation of several internal routes, including flights from Karachi to Islamabad and Lahore. These comprised:

Private airline ER 500 en route to Islamabad

Private airline PF 143 en route to Lahore

Private airline ER 522 en route to Lahore

Private airline flight PF 125 destined for Islamabad
Numerous other private carriers have experienced cancellations owing to insufficient passenger volumes, as travellers seek alternative routes.

Airport officials reported that the persistent pollution in Lahore and other areas of Punjab had resulted in a temporary suspension of flight operations; however, improved weather conditions had facilitated smoother operations in certain places.

The situation in Lahore was similarly dire, with numerous planes cancelled or delayed. Fly Jinnah flight 500, en route from Lahore to Sharjah, was cancelled, whereas AirSial aircraft PF 716 to Jeddah experienced a significant 13-hour delay, presently set to depart at 10 p.m.

Likewise, Serene Air flight ER 812 to Jeddah is now scheduled to depart six hours late at 2 p.m.

Additional delays encompassed AirSial aircraft PF 142 from Lahore to Karachi, which is now scheduled to depart three hours late, at 1 p.m. The delays and cancellations have been ascribed to operational restrictions; nevertheless, airport officials are striving to ensure the remaining planes operate seamlessly.