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In Pakistan Budget 2024, Pakistan’s Finance Minister dedicated Rs. 4 billion to the promotion of Electric Bikes and Rs. 2 billion to the development of energy-efficient fans.
Despite this significant investment, the effectiveness of the e-bike promotion is uncertain. The previous e-bike scheme launched by the government saw half of the supposed e-bikes turn out to be regular motorcycles due to a shortage of electric bikes in the country.
These initiatives are part of a broader strategy to decrease transportation-related carbon emissions and reduce overall energy use. The Minister emphasized Pakistan’s susceptibility to climate change and reiterated the government’s commitment to climate mitigation efforts.
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Senator Aurangzeb underlined the government’s proactive stance on climate change by announcing the formation of the Pakistan Climate Change Authority. This new agency will focus on executing plans to mitigate the effects of climate change and help Pakistan adapt to its consequences.
Moreover, Senator Aurangzeb discussed the upcoming National Climate Finance Strategy, slated for completion by October 2024. This strategy will aim to attract international funding for climate projects in Pakistan, which will be utilized to lower the nation’s carbon emissions.