Markets and restaurants will close at 8 p.m. nationwide as part of an energy conservation plan.
The ten-year energy crisis in Pakistan has its roots in ineffective leadership. However, both government officials and aid donors stubbornly refuse to see the obvious and instead undertake expensive, ultimately futile initiatives.
The history of Pakistan serves as a case study for how difficult it may be for developing nations to develop and carry through reforms, even those necessary to help people overcome poverty. Indeed, Pakistan’s persistent energy issue is hindering the country’s economic progress; according to estimates from the Ministry of Finance, during the past nine years, energy shortages have on average lowered annual economic growth by two percentage points.
It only gets worse. To offset the financial losses in the energy sector over the same time period, the government has spent more than 10% of GDP. This suggests that if Pakistan’s energy industry had undergone adequate reform, the economy of the nation could have increased by around 4% annually, potentially producing enough jobs for a young and expanding population.
Decision taken for the closure of markets at 8:00 pm :
ISLAMABAD: According to an energy-saving plan unveiled by the federal government on Tuesday, all businesses and eateries must close at 8 p.m., according to ARY News.
Defense Minister Khawaja Asif, speaking at a news conference with other federal ministers to inform the public on the choices made in the cabinet meeting with Prime Minister Shehbaz Sharif in the chair, said that “all markets and retail centres will be closed by 8pm across the country. However, he stated that the restaurant hours might be increased by an hour.
The federal minister continued by announcing that all wedding venues will close at 10 p.m. Pakistan would save between 8,000 and 9,000 megawatts of electricity and Rs62 billion annually as a result of the move.
According to Khawaja Asif, markets in other areas of the world close at 6 p.m., while in Pakistan, they stay open till after midnight.
The federal minister added that the administration would consult with all four provinces before making energy-related decisions and that the final plan would be unveiled by Thursday.
Asif added that the administration was considering implementing e-bikes. The government is also phasing out gasoline-powered bikes by adopting e-bikes.
He stated that the Ministry of Information will launch a media effort to inform the public about these new regulations.