ISLAMABAD (Kashmir English): The government of Pakistan has announced a series of fuel-saving measures in response to the current global energy crisis that is escalating worldwide.
The new policy requires all markets in the country to shut down their operations at 8:00 PM from April 6 onward because the government wants to save electricity by operating during daylight hours.
The federal government will work together with provincial authorities to create a new rule that requires shops to close early, with the final decision depending on discussions with the Prime Minister, the four chief ministers, and military leaders.
The United States and Israel’s war against Iran has created global supply interruptions that have caused fuel prices to rise. The world fuel market has experienced its highest price levels because of these supply interruptions.
Pakistan has implemented fuel supply conservation methods because they follow international environmental protection standards. The government has started to implement fuel reduction measures through weekend school holidays and restrictions on government department vehicle use, and other fuel-saving initiatives.
Petrol and diesel prices have reached their highest levels in history. Minister of State for Finance Ali Pervaiz Malik and Federal Finance Minister Muhammad Aurangzeb announced the significant fuel price increase during their joint press conference.
Petrol will now be sold at Rs. 458.40 per liter, while diesel will cost Rs. 520.35 per liter. The decision shows that petrol prices increased by Rs. 138 per liter while diesel prices increased by Rs. 184 per liter, which represents the most expensive fuel rates ever recorded in the country. Analysts warn that these price increases will lead to a new round of inflation that will impact different industry sectors.
