KARACHI: In compliance with the energy conservation plan – a policy approved by the federal government – the Karachi commissioner ordered the closure of bazaars and shopping malls by 8:30 pm on Saturday.
Commissioner Karachi Muhammad Iqbal Memon has instructed the Deputy Commissioners to ensure the implementation of the instructions regarding the closure of marriage halls and restaurants at 10 pm. He also asked them to implement Islamabad’s orders regarding the energy crisis.
Earlier this week, Prime Minister Shehbaz Sharif also unveiled a series of austerity measures to save Rs 200 billion – aimed at keeping the country afloat as the nation’s International Monetary Fund (IMF) bailout. is ready to meet the conditions of
At a presser held to unveil the measures, as a follow-up to the government’s energy conservation plan announced earlier, the Prime Minister warned that if the center and provinces close malls and markets by 8 p.m. Will not stop power supply. :30 p.m
The federal government had approved a new energy conservation plan in January 2023 that required markets/malls to close by 8:30 pm, while also banning the use of inefficient appliances. This will save the country 62 billion rupees annually.
In view of the country’s deteriorating economic conditions, Islamabad is trying to implement cost-cutting measures in various sectors.
The government’s talks with the IMF on policy framework issues have been ongoing since early February as Pakistan hopes to sign a staff-level agreement that would attract more funds from other bilateral and multilateral lenders. will pave the way.
After restoring the program, the lender will disburse more than $1 billion from a $6.5 billion bailout facility signed in 2019.
The South Asian country’s economy is in a slump and in dire need of external financing, with foreign exchange reserves of about $3 billion, barely enough for a month’s worth of imports.
