The UK has awarded contracts to build a record supply of offshore wind projects as part of its efforts to grow the country’s clean electricity sources.

The projects span England, Scotland and Wales, including what could be the world’s largest offshore wind farm off the coast of Scotland in the North Sea.

But some analysts warn that despite the record haul of offshore wind, the government will still struggle to meet its 2030 “clean power” target.

The government argues that wind projects are cheaper than new gas power stations and will “bring down bills for good”, but the Conservatives have previously accused climate targets of raising energy costs.

The largest successful project is Berwick Bank in the North Sea, which is the largest planned offshore wind farm worldwide.

Other projects to be awarded contracts include the Dogger Bank South wind farm off the coast of Yorkshire and the Norfolk Vanguard project off the coast of East Anglia – while Awel Y Mor was the first successful Welsh project to in more than a decade.

The government wants at least 95% of Great Britain’s electricity to come from “clean” sources by 2030, partly to reduce emissions of planet-warming gases from fossil fuels. These clean sources include renewables – such as solar and wind – and nuclear energy.

Federal Minister for Finance and Revenue Senator Mohammad Aurangzeb has said that the government is fully aware of the challenges facing the economy, admitting that some companies are leaving the country due to high taxes and expensive energy.

Addressing the Pakistan Policy Dialogue in Islamabad on Wednesday, Senator Aurangzeb, however, said there were 20 new foreign investors who have entered the Pakistan market during the last 18 months.

These new foreign investors included Google, Aramco, Wafi Energy, Turkishm Petroleum and others, he added.

The finance minister also revealed that the government will hand over 24 more state units to the Privatization Commission for offloading after the successful sale of the Pakistan International Airlines (PIA).

Aurangzeb said that foreign remittances would cross $41 billion during the current fiscal year as compared to previous year’s $38 billion.

He said handling of tax policy has been delegated to the Finance Division as the Federal Board of Revenue (FBR) is focused on collection of taxes.

Aurangzeb said the circular debt is gradually decreasing due to reforms in the energy sector.

The minister said “There are firms which are also leaving that is true .. if the taxation is high or the energy cost is high or its financing cost is always moving in the right direction those have been real issues.”

Aurangzeb said high taxes and high energy cost remain “real problem for businesses,” adding the government has begun reforms to reduce the burden on the national exchequer and bring economic stability.

“But those firms which have been able to look at business models because it takes two to tango, what the government has to do, and what the private sector has to do, and if you have wedged into their business models for the last 50 years it’s not going to work in the New World Order,” he maintained.

The minister said some of the multinational firms switched to local sourcing “because of their margins are fine and they are now able to export, therefore they stay.” And If another firm has not been able to do that, then that’s something we know they need to think through, he added.

Aurangzeb said structural reforms were underway across the country and that the transformation process of the Federal Board of Revenue (FBR) is continuing. “Compliance and enforcement are essential to ensure implementation of tax laws,” he added.

The finance minister said over Rs1,000 billion are wasted by state units every year. “Utility Stores, PWD and PASSCO were shut down due to losses,” he added.

“Increasing duties is harmful for the country. We have introduced major reforms in tariff and drop in tariffs will automatically spur exports and industrial production,” he remarked.

Aurangzeb remained optimistic about the broader economic landscape, pointing to the government’s ongoing reform efforts aimed at addressing critical issues.

“We are in the process of introducing structural reforms across various sectors, and a transformation of the Federal Board of Revenue (FBR) is already underway,” he said.

These reforms, he explained, are designed to ease the burden on businesses and strengthen the country’s financial systems.

In addition to fiscal reforms, the minister underscored the importance of improving tax compliance and enforcement.

“For tax laws to be effective, proper implementation is crucial. We are focusing on compliance and enforcement to ensure that the reforms are successful,” he said.

Despite the current economic pressures, the Finance Minister expressed confidence that these measures would pave the way for more sustainable growth and attract additional foreign investments in the long run.

The US government has given chip giant Nvidia the green light to sell its advanced artificial intelligence (AI) processors in China, the Department of Commerce said on Tuesday.

The H200, Nvidia’s second-most-advanced semiconductor, had been restricted by Washington over concerns that it would give China’s technology industry and military an edge over the US.

The Commerce Department said the chips can be shipped to China granted that there is sufficient supply of the processors in the US.

President Donald Trump said last month that he would allow the chip sales to “approved customers” in China and collect a 25% fee.

The BBC has contacted Nvidia for comment.

The Commerce Department’s Bureau of Industry and Security said its revised export policy applies to Nvidia’s H200 chips, as well as less advanced processors.

The H200 chip is a generation behind Nvidia’s Blackwell processor, which is considered to be the world’s most advanced AI semiconductor and remains blocked from sale in China.

Nvidia has been caught in a geopolitical tug-of-war between the US and China – two sides of a global AI race.

Trump reversed the chip-selling restriction last July, but demanded that Nvidia pay a cut of its earnings from China to the US government.

Beijing then reportedly ordered its tech companies to boycott Nvidia’s China-bound chips and prioritise semiconductors made domestically. That move was designed to bolster China’s tech industry, though experts have consistently said that the country’s chips still lag behind the US.

Throughout 2025, Nvidia CEO Jensen Huang continually lobbied Washington to allow the sale of the firm’s high-powered chips to China, arguing that global market excess is essential for America’s competitiveness.

Some officials in the US, however, have expressed concerns that the chips would benefit Beijing’s military and hurt America’s progress in AI development.