Particle.news
Download on the App Store

Pakistan Weighs Early Market Closures to Curb Energy Use

Talks with global lenders next week will test Pakistan’s case for a reset.

Overview

  • Petroleum Minister Ali Pervaiz Malik said the government is considering closing markets earlier to cut power and fuel use.
  • If enforced, most shops would shut early while wedding halls and restaurants could operate until 10 pm.
  • Finance Minister Muhammad Aurangzeb plans meetings with the IMF and the World Bank next week to brief them on the shock and pursue a review of the economic framework.
  • After a halt in Qatari gas supply, local fields are delivering 400 to 500 million cubic feet per day to ease the shortfall.
  • Officials said the UAE’s $3.5 billion deposit remains available and can be returned on request if the lender asks.