Reeling under an energy, the Pakistani government has come up with a plan that could save it Rs 62 billion. On Tuesday, the government approved a proposal to reduce energy consumption in the country, according to Defence Minister Khawaja Asif.
Under the plan, markets and malls will close at 8.30 pm, and wedding halls will close at 10 pm. In addition, the use of inefficient appliances will be banned, which is expected to save the country around Rs 62 billion ($273.4 million) annually. Prime Minister Shehbaz Sharif has also directed that the federal government reduce electricity consumption by 30%, and has ordered officials to avoid unnecessary consumption of electricity in offices.
"The Cabinet, on the recommendation of the power division, has allowed enforcing the energy-saving plan which will be applied to the entire country," said Asif.
"Inefficient fans use around 120-130 watts of electricity. Across the globe, fans are available that use 60-80 watts," Asif said, adding that the import duty on "inefficient" fans would be increased to decrease their consumption. The government has also banned the manufacturing of 120-130 watt fans from July 1 in the country, Geo News reported.
The Cabinet meeting, which approved the plan, was held without the use of any electricity. The government will also halt production of electricity-powered fans and increase import duties on "inefficient" fans, and will ban the manufacturing of 120-130 watt fans within the country starting on July 1. All government institutions will be required to install efficient devices to save electricity.
Pakistan's Consumer Price Index (CPI) rose to 24.5% in December, a significant increase from the 12.3% recorded in the same period last year, according to the Pakistan Bureau of Statistics (PBS). The inflation rate was higher than the ministry of finance's expectations, which ranged from 21% to 23%.
Experts attribute the rise in inflation to a number of factors, including the impact of higher international commodity prices following Russia's invasion of Ukraine, damage to crops due to devastating floods in the country, and rupee depreciation.
Food inflation also saw a significant increase, with prices rising by 32.7% in cities and 37.9% in villages/towns last month. This reflects a significant rise in the prices of both perishable and non-perishable food products compared to the same period last year.