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Home Economy

Pakistan’s plans to down markets early due to the power crisis

Bilquees Anwar by Bilquees Anwar
December 20, 2022
in Economy
Reading Time: 2 mins read
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Pakistan's plans to down markets early due to the power crisis

As part of the government’s nationwide power-saving initiative, it has been determined that stores would close at 8 p.m. and wedding halls by 10 p.m.

Following a federal cabinet meeting on Tuesday, Defense Minister Khawaja Asif spoke to the media while being supported by Federal Minister for Information Marriyum Aurangzeb and Advisor to the Prime Minister on Kashmir Affairs Qamar Zaman Kaira.

According to him, wedding venues will close at 10 p.m., while stores and dining establishments will close at 8 p.m. He noted that whereas markets throughout the world close at 6 p.m., ours stay open till 2 a.m.

The minister claimed that sending 20% of the workforce to work remotely on a rotating basis will save Rs56 billion.

He further mentioned that the federal government has suggested alternatively turning on and off street lights to save roughly Rs4 billion.

“The government is also phasing out gasoline-powered motorcycles by adopting e-bikes. The government is discussing with the businesses to alter the current bikes and phase out the petrol-powered bikes “Asif stated.

According to the minister, the administration is contacting all four provinces to let them know about the program and get their support. He said that it will be introduced with unanimity and that it is a national initiative.

He stated that the exercise will be finished in the next two days. According to Asif, the nation cannot sustain its current standard of living due to its dire economic circumstances.

To read our blog on “The severe Bitcoin crisis has arrived,” click here.

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Bilquees Anwar

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