ISLAMABAD: Pakistan on Monday engaged the International Finance Corporation (IFC) of the World Bank as transaction adviser for inducting private investors in the installation of 10 million smart meters across all electricity distribution companies (Discos). The Ministry of Energy (Power Division) had announced a large-scale rollout of smart meters across Discos in October 2025. On Monday, the Power Division said it has signed a Transaction Advisory Services Agreement (Tasa) with the IFC, a member of the World Bank Group. Under this agreement, the IFC will act as transaction advisor and conduct a comprehensive techno-commercial assessment for a service-provider model or public-private partnership framework to support the large-scale rollout of smart metering infrastructure for 10m single-phase connections. The initiative was intended to attract local and international investors to install, maintain, and operate the infrastructure, thereby advancing Pakistan’s digital transformatio...
An 80-centimetre tsunami wave hit a port in northern Japan on Monday after a powerful 7.4-magnitude earthquake struck the region, Japan’s Meteorological Agency (JMA) said. The wave was observed at 5:34pm (1:34pm PKT) at a port in Kuji, Iwate, JMA said. It previously said a 70-centimetre wave had struck at 5:32pm. A 7.4-magnitude earthquake struck northern Japan earlier, the country’s Meteorological Agency (JMA) said, issuing a tsunami warning for waves up to three metres. The quake hit at 4:53pm (12:53pm PKT) in Pacific waters off northern Iwate prefecture and the tremor was strong enough to shake large buildings as far as Tokyo, hundreds of kilometres away. “Evacuate immediately from coastal regions and riverside areas to a safer place such as high ground or an evacuation building,” it said, warning that damage due to tsunami waves was expected. “Tsunami waves are expected to hit repeatedly. Do not leave safe ground until the warning is lifted,” it said. Footage from national br...