Lahore: Federal Minister for Petroleum Ali Pervaiz Malik said the government is considering reducing market hours nationwide as part of broader austerity measures to manage the country’s current economic challenges.
Speaking on a private TV program, he said that if the decision is implemented, wedding halls and restaurants would have to close by 10 PM, and other non-essential businesses may also face limited operating hours.
He added that the government is taking additional measures including:
Reducing energy consumption by limiting street lighting and office electricity usage.
Cutting non-essential government expenditures to save public funds.
Encouraging public transport over private vehicles to reduce fuel demand.
Strict monitoring of imports to avoid unnecessary foreign exchange outflows.
The Finance Minister will travel abroad next week to meet the IMF and World Bank to brief them on the economic situation, as the country may face a potential major shock.
Ali Pervaiz Malik also stated that the United Arab Emirates deposited $3.5 billion in Pakistan during difficult times, and Pakistan is fully prepared if a withdrawal request is made.
He further mentioned that after gas supply from Qatar stopped, local gas fields are now providing 400–500 MMCFD of gas immediately.
These austerity measures, including shortened market hours, controlled energy usage, expenditure cuts, and stricter import rules, are part of the government’s strategy to stabilize the economy, manage shortages, and protect foreign reserves.
