Pakistan’s government has ordered measures to conserve energy, including closing all malls and markets by 8:30pm (15:30 GMT), as the country grapples with a crippling power and economic crisis.
The cabinet-approved measures are expected to save the country about 62 billion Pakistani rupees ($273m), Defence Minister Khawaja Asif told journalists on Tuesday.
Pakistan finds itself strapped for cash as money expected to come in under an International Monetary Fund (IMF) programme has been delayed. Its foreign exchange reserves now barely cover a month of imports, most of which are for energy purchases.
The defence minister said additional measures that will take immediate effect include shutting restaurants and wedding halls by 10pm (17:00 GMT). He said some market representatives had pushed for longer hours, but the government decided that an earlier closure was needed.
Asif also said Prime Minister Shehbaz Sharif had ordered all government departments to reduce electricity consumption by 30 percent.
The measures are being implemented as Pakistan struggles to quell fears of a default after the $1.1bn in IMF funding was delayed. Islamabad has differences with the IMF over a review the agency is conducting of policy and reforms it is requiring in Pakistan. The review should have been completed in November. READ MORE...
