The Asian Development Bank (ADB) has participated in its first Shariah-compliant project financing, providing assistance to two projects to build wind farms close to the port city of Karachi, using two partial credit guarantees worth up to $66 million to the Islamic Development Bank (IDB).

“This transaction allows ADB to be more responsive to borrower demand and provides an opportunity to participate in the fast-growing Islamic finance market,” said ADB’s Private Sector Operations Department Senior Investment Specialist Siddhartha Shah.

The Federal capital is facing an acute shortage of some 98 million gallons of water per day. Its daily requirement is 180 million gallons. Some of the city’s sectors have lost complete access to drinking water – clean or otherwise!

The Capital Development Authority (CDA) is faced with the catch-22 situation after the National Accountability Bureau has raised 22 objections on the transparency of the Rs.6.5 billion LED streetlights project. “We raised 22 objections on the tendering process as well as CDA’s objectives behind launching this multibillion rupees project,” said NAB Spokesman Zafar Iqbal.

Executive District Officer (EDO) Imtiaz Ahmed Malik has said that the grand cleanliness campaign launched on April 26 to clean all Union Councils of Rawalpindi has concluded under which Municipal Services Department of City District Government cleaned 46 Union Councils.

Nearly 2800 tonnes garbage was lifted from all UCs of the city, he said and informed that 30 kilometers dirty water drain lines and small nullahs have also been cleared.

The Asian Development Bank has started work on the feasibility study of the Rapid Bus Transit for Islamabad to examine whether the project would be feasible technically or financially.

"A four-member team of the ADB has reached Islamabad and launched work on the feasibility study," said a senior official of the Capital Development Authority (CDA).

He said the feasibility study would be completed by September this year, which would follow the launch of the bus service.

Fire erupted on Margalla Hills at two points on Wednesday, gutting a huge stretch of forest area, besides affecting flora and fauna.

The Capital Development Authority (CDA) has imposed a fine of Rs 50,000 per tree on a private builder for cutting trees and has asked him to compensate the heavy loss to the environment by planting the same number of trees.

Earlier, Prime Minister’s Task force on Islamabad Chairman Faisal Sakhi Butt took serious notice of the chopping of 40-year-old trees by the builder and had directed the CDA to take stern action against him.

Pakistan has been ranked among the top 20 highly vulnerable countries impacted by climate change, sources told Daily Times on Tuesday.
According to the Maple Craft Climate Change Vulnerabilities Index, Pakistan has been placed among the ‘high risk’ category of countries impacted by climate change. Another organisation by the name of German Watch has identified Pakistan among the top 10 highly vulnerable countries of the world.

Energy-poor Jordan said on Sunday a Russian firm and a French-Japanese consortium are to compete to build the kingdom’s first nuclear plant.

“Following a thorough examination, the offers provided by Russia’s Atomstroyexport and a consortium by France’s Areva and Japan’s Mitsubishi were the best proposals that meet Jordan’s requirements,” Atomic Energy Commission said in a statement.

The Municipal Commissioner Karachi, Matanat Ali Khan, has announced that as many as 800 public toilets are being constructed in all the districts of metropolis.