SINGAPORE: Global exchange Climate Impact X (CIX) and carbon finance business Respira have completed an auction to sell 250,000 tons of blue carbon credits at $27.80 per ton.
The credits are 2021 vintage, meaning they were issued last year, and the price was $10 per ton, or 40 percent, premium to spot prices for other credits from that vintage, CIX said in a statement on Friday. They were generated from Pakistan’s Delta Blue Carbon Project, the world’s largest mangrove restoration project.
“Despite a backdrop of high inflation and global macro uncertainty weighing on the whole carbon market, this represents a strong signal of support for premium credits of high integrity,” CIX said.
Blue carbon refers to carbon that is naturally stored by marine and coastal ecosystems, while green carbon is contained in vegetation and forest ecosystems.
The auction was awarded based on the lowest bid submitted for the volumes that was above the reserve price. But 30 percent of the bid volume was priced at $35 per ton or more, said CIX, while 27 percent of the bids were above the auction reserve price of $27.50 per ton, “signalling the premium at which some buyers were willing to pay for high-quality and unique credit types.”
Under increasing pressure to cut carbon emissions, firms need carbon credits to offset emissions they are unable to remove from their operations.
CIX, a global marketplace and exchange for carbon credits, is jointly formed by Singapore’s DBS Bank, Singapore Exchange Group, Standard Chartered and Singapore state investor Temasek.
Carbon exchange CIX completes 250,000 ton credit auction from Pakistani project
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Carbon exchange CIX completes 250,000 ton credit auction from Pakistani project
- Credits were issued last year, and the price was $10 per ton, or 40 percent, premium to spot prices for other credits
- They were generated from Pakistan’s Delta Blue Carbon Project, world’s largest mangrove restoration project
Pakistan PM discusses ways to enhance trade, investment cooperation with Iran’s president-elect
- PM Sharif congratulates Iran’s President-elect Masoud Pezeshkian on winning election in telephonic conversation
- Pakistan, Iran have a shared vision for building a better future together for our people, says Pakistani PM
ISLAMABAD: Pakistan’s Prime Minister Shehbaz Sharif congratulated Iran’s President-elect Masoud Pezeshkian on Monday for winning the recently held election in his country, as both leaders discussed opportunities to enhance cooperation in trade and investment, Sharif’s office said.
Masoud Pezeshkian, a relatively moderate candidate, secured 53.7 percent or 16.3 million votes in Iran’s presidential election held on Friday, defeating hard-liner Saeed Jalili’s 13.5 million votes. The reformist-backed candidate, who is 69 years old, will replace Ebrahim Raisi, who died in a plane crash last month.
In a post on social media platform X, PM Sharif said he spoke to Pezeshkian over the phone to congratulate him on his victory.
“We discussed ways to enhance cooperation, particularly in trade, commerce & investment, and foster a stronger partnership for regional stability,” Sharif wrote on X. “As brothers and neighbors, our two countries have a shared vision for building a better future together for our peoples.”
Pakistan and Iran agreed to enhance bilateral trade between the two countries to $10 billion in April when Raisi arrived in Islamabad.
Both countries signed memorandum of understandings and agreements covering different fields including trade, science and technology, agriculture, health, culture, and judicial matters.
Pakistan and Iran have had a history of rocky relations despite a number of commercial pacts, with Islamabad being historically closer to Saudi Arabia and the United States. Their highest profile agreement is a stalled gas supply deal signed in 2010 to build a pipeline from Iran’s South Fars gas field to Pakistan’s southern provinces of Balochistan and Sindh.
The two countries are also often at odds over instability on their shared porous border, with both routinely trading blame for not rooting out militancy.
Tensions surged in January when Pakistan and Iran exchanged airstrikes, both claiming to target alleged militant hideouts in each other’s countries. Both sides have since then undertaken peace overtures and restored bilateral ties.
Pakistan’s disaster management authority issues fresh warning of floods, landslides from monsoon rains
- Monsoon currents from Arabian Sea likely to remain in country’s upper parts till July 16, says disaster management authority
- Heavy rains may trigger landslides and mudslides in upper Khyber Pakhtunkhwa, Gilgit-Baltistan and Azad Kashmir, it says
ISLAMABAD: The National Disaster Management Authority (NDMA) issued a fresh warning on Tuesday that monsoon currents, which are likely to remain in the upper parts of the country till July 16, may trigger flash floods and landslides in various areas of Pakistan.
Pakistan’s meteorological department has forecast heavy rains during the monsoon seas in July. The NDMA warned last month that torrential rains could trigger an “emergency” situation in Sindh and Punjab provinces.
Pakistan is recognized as one of the most vulnerable countries to climate change effects in the world. Unusually heavy rains in June 2022 triggered flash floods in many parts of the country, killing over 1,700 people, inflicting losses of around $30 billion, and affecting at least 30 million people. In a press release, the NDMA said monsoon currents from the Arabian Sea entered the upper parts of the country from July 8 and are likely to remain till July 16.
“Under influence of said system, rainfall may trigger landslides/mudslides in upper Khyber Pakhtunkhwa, Gilgit-Baltistan, Galiyat, Murree and state of Azad Jammu and Kashmir,” the NDMA said. “In Balochistan, rainfall may cause flash flooding in local nullahs, hill torrents may be triggered in Sulaiman and Kirthar Ranges.”
The disaster management authority warned that rainfall could generate flash and urban flooding in municipalities, nullahs, streams and river tributaries across the country.
“There is also a risk of lightning strikes in parts of country,” the NDMA said.
The authority advised provincial disaster management authorities and local administrations to monitor the situation closely and take measures to safeguard at-risk populations.
“People dwelling in low-lying areas are advised to take extra caution and undertake emergency preparation in view of potential urban flooding,” it said.
Last week, the NDMA launched a community engagement app ahead of the monsoon season. The ‘Pak NDMA Disaster Alert’ mobile app will generate alerts and update guidance for organizations and individual responders in national and provincial languages with audio and video formats, Pakistan’s state media had said.
It said the alerts would help people and responders to implement disaster management plans, keeping them ahead of the crises before they strike.
“The public is urged to download NDMA’s ‘Pak NDMA Disaster Alert’ mobile app for timely disaster alerts, guidelines and precautionary measures,” the NDMA said.
Washington says has shared interest with Pakistan in combating regional threats
- State Department official responds to Pakistan’s threat of conducting cross-border attacks in Afghanistan
- Says Washington engages Pakistani government regularly to build capacity, strengthen regional security
ISLAMABAD: Washington has a shared interest with Islamabad in combating regional security threats, US State Department Spokesperson Matthew Miller said this week in response to a question on whether America would support Pakistan if it conducted cross-border attacks against militant targets in Afghanistan.
Tensions escalated between Islamabad and Kabul last month after Pakistan’s Defense Minister Khawaja Asif hinted Pakistan could carry out cross-border attacks in Afghanistan against militants. Pakistan has suffered a surge in militant attacks since the Afghan Taliban seized Kabul in August 2021 which it blames on the Pakistani Taliban or the Tehreek-e-Taliban Pakistan (TTP) outfit. Pakistan says the TTP carries out attacks against it from sanctuaries in Afghanistan.
Afghanistan has rejected Pakistan’s allegations and in response to Asif’s statement, warned Islamabad there would be “consequences” if it decided to conduct cross-border attacks.
“So the Pakistani people have suffered greatly at the hands of terrorists,” Miller told reporters at a press briefing on Monday, when asked whether the US would support Pakistan if it struck militant targets in Afghanistan. “We have a shared interest in combating threats to regional security.”
He said the United States partners with a range of civilian institutions in Pakistan and regularly engages the Pakistani government to identify opportunities to build capacity and strengthen regional security.
MAY 9 PROTESTS
Miller was asked about Washington’s stance on the violent May 9, 2023 protests across Pakistan, where angry supporters of former prime minister Imran Khan attacked government and military installations in response to his brief arrest on corruption charges.
A nationwide crackdown was launched against Khan’s Pakistan Tehreek-e-Insaf (PTI) party leaders and supporters in the aftermath of the protests, with many of them publicly parting ways with the former prime minister. Khan distanced himself from the violence, accusing Pakistan’s intelligence agencies of framing his supporters for the violence. Pakistan’s government and military have both rejected the allegations.
At least 103 people linked to the May 9 riots are currently being tried in army courts, unleashing widespread criticism from within Pakistan and rights organizations globally over the courts’ secretive nature and existence alongside a functioning civilian legal system.
“So our thoughts are the same anywhere in the world, which is we support legitimate, free expression, including the right to protest, the right to peaceful assembly, and we oppose violent actions, we oppose vandalism, looting, arson,” Miller said about the May 9 protests.
He said Washington expected governments to deal with such protests “consistent with the rule of law and respect for free speech.”
Coke Studio ‘Blockbuster’ puts spotlight on Lahore neighborhood known for music greats
- Song called “Blockbuster” by Gharwi Group is one of the most popular hits from Coke Studio Season 15
- Group comprises three sisters from Gharwi Mohalla known for famous singers like Reshma, Mehdi Hassan
LAHORE: The small, congested Gharwi Mohalla in Pakistan’s eastern city of Lahore has produced many legendary folk and ghazal singers like Mehdi Hassan, Naseebo Lal and Reshma. Now, a latest hit by Coke Studio, the longest-running annual TV music show in Pakistan, had added to the list of musical sensations from the neighborhood: the Gharwi Group.
The song called “Blockbuster” blends the deep vocals of Umair Butt with the energy of Faris Shafi, considered a pioneer of Urdu rap, and the soulful singing of the Gharwi Group, and has garnered over 18 million views on YouTube since it was released on May 25.
While Shafi was already well known on the Pakistani music scene and Butt has been hugely appreciated for his vocal prowess after the release of Blockbuster, the true breakout stars are Rooha, Sajida and Abida of the all-women Gharwi Group, who have gone from being struggling street singers to viral sensations overnight.
The gang’s appearance in the video, shot in a stylized version of a typical Pakistani neighborhood featuring vibrant colors, heavy traffic, pedestrian hustle and roadside businesses, has also put the spotlight on the Gharwi Mohalla in Lahore’s Shahdara district off the Grand Trunk Road. The neighborhood is steeped in musical heritage and even derives its name from an instrument, the gharwi, a small, round pot typically used to store milk but on the streets of the Gharwi Mohalla also tapped to produce a musical sound.
Sajida Bibi, the eldest member of the group and a street singer for the last two decades, said the family traced its roots to the Indian state of Rajasthan.
“Our ancestors, our grandfathers, great grandfathers, all used to live there,” Sajida told Arab News in an interview. “We like singing very much. Reshma is from there [Gharwi Mohalla], Naseebo Lal is from there, Mehdi Hassan is from there.”
The group was discovered by renowned music composer and Coke Studio producer Zulfikar Jabbar Khan, popularly known as “Xulfi,” who came across their videos on YouTube.
“We used to sing on [Lahore’s] food street, our [videos] were playing on YouTube,” Sajida said. “Then Xulfi bhai saw us, liked us and then gave us this [Coke Studio] song. We were happy to sing it.”
Bibi’s younger sister, Rooha, is married to struggling qawwali singer Roohul Hassan and her 12-year-old daughter Saba has also become an overnight sensation for her cameo in Blockbuster.
Hassan initially went with the Gharwi Group for rehearsals to look after her baby brother on set. Xulfi heard her singing a lullaby to the boy and got “goosebumps,” he said in a video on his Instagram page, which prompted him to make her part of the production.
“I was singing lullabies to him when Xulfi uncle heard them and told me why don’t you sing a couple of lines for us too,” she told Arab News.
The rest as they say is history.
“I want to continue to sing, this is what I’ve always wanted,” Saba added. “This is what all the children in Gharwi Mohalla want to do.”
Now the family, which has always struggled financially, earning little from performances at weddings and other events as well as outside popular restaurants, hopes their fortunes will turn.
“I’d like to thank all the people covering our story, we are so excited to share our music with the rest of the world,” Rooha said. “The more people like our music, the more motivated we will be to continue with our family tradition.”
In the future, the group will be working on a Punjabi song with Altaf Hussain Tafu Khan, a prominent classical musician and famed tabla player.
“Tafu has offered us a song based on the success [of Blockbuster],” Rooha said. “We said we’re happy to do it, it’s a Punjabi song, an old Kalaam [folk music].”
Though Tafu does not have the reach of Coke Studio, the ladies of Gharwi Group have big dreams.
“Reshma was like an aunt to us,” Sajida said, referring to one of Pakistan’s most famous folk singers, who died in 2013. “She was famous the world over and we want to follow in her footsteps.”
Two-member Canadian team to assess security arrangements at Karachi airport next week
- It will be the 5th international evaluation of Pakistan’s aviation security system in recent months
- Pakistan’s aviation protocols have faced significant scrutiny since a 2020 fake pilot license scandal
KARACHI: A two-member Canadian team will arrive in Pakistan to assess security arrangements at the Jinnah International Airport in Karachi next week, the Pakistani Civil Aviation Authority (PCAA) said on Monday.
The team comprising officials of Transport Canada, a Canadian government entity responsible for policies and services of road, rail, marine and air transportation, is scheduled to arrive in Pakistan on July 14.
It will begin its assessment at Karachi airport on July 15, focusing on aviation security documentation, airport arrangements, catering, and cargo complexes, according to the PCAA.
“The goal is to ensure that the aviation security, overseen by the Pakistan Civil Aviation Authority (PCAA), is in compliance with the standards set by ICAO (International Civil Aviation Organization) and Transport Canada,” the PCAA said in a statement.
“The PCAA is fully prepared for the assessment and is working closely with all stakeholders, including airport management, ASF (Airports Security Force), PIA (Pakistan International Airlines), cargo operators, and catering companies.”
The authority said the PIA, which operates direct flights to Canada, would be of particular interest to the Transport Canada team.
The assessment would be the 5th international evaluation of Pakistan’s aviation security system.
The PCAA has successfully passed all previous inspections, including the recent inaugural assessment by the United Arab Emirates General Civil Aviation Authority (UAE-GCAA) of Islamabad and Karachi that concluded on July 5.
Pakistan’s aviation protocols have faced significant scrutiny since 2020 following a scandal wherein approximately 262 out of 860 active pilots were said to have obtained fake licenses, leading to the grounding of around 150 pilots from the PIA and other carriers.
This revelation came in the wake of the tragic crash of PIA Flight 8303 in Karachi, resulting in the suspension of PIA’s operations in the European Union (EU) and other regions and prompting calls for regulatory reforms to improve safety standards and transparency.
