Pakistan plans to shut malls, markets early in a bid to save power

Pakistan’s government has ordered all malls and markets to close by 8.30 pm among other measures in a new energy conservation plan, the defence minister said on Tuesday, as the country grapples with an economic crisis.
 

Pakistan’s foreign exchange reserves barely cover a month’s worth of imports, most of which are accounted for by energy purchases from abroad, with funds expected under an International Monetary Fund (IMF) programme having been delayed.
 

Khawaja Asif told journalists the Cabinet-approved measures to shut markets, including restaurants, aimed to save the cash-strapped country about 62 billion Pakistani rupees ($273 million).
 

He said additional immediate measures included shutting wedding halls by 10 pm daily. He added that some market representatives had pushed for longer hours, but the government decided that earlier closure was needed. Asif also said Prime Minister Shehbaz Sharif had ordered all government departments to reduce electricity consumption by 30 per cent.
 

The move comes as Pakistan struggles to quell default fears in domestic and international markets, with a $1.1 billion IMF bailout tranche stuck due to differences over the ninth programme review, which should have been completed in November.