The federal government is considering early closure of markets as part of a broader austerity strategy to tackle the ongoing energy crisis triggered by escalating tensions in the Middle East, officials said.
Federal Minister for Petroleum Ali Pervaiz Malik said the proposal was discussed during a high-level meeting attended by the chief ministers of all four provinces. The move aims to reduce energy consumption amid mounting economic pressures.
“The participants sought consideration over early market closures as part of the austerity measures,” the minister said, adding that markets could be required to shut earlier than usual if the plan is approved.
He noted that under the proposal, wedding halls and restaurants would be allowed to operate until 10pm.
The deliberations come as global energy markets face volatility following recent developments in the Middle East, including disruptions linked to the Strait of Hormuz, a key global oil transit route.
Pakistan has already introduced a series of fuel conservation measures in response to the crisis, including adjustments in petroleum prices and efforts to manage domestic energy supply.
Malik warned that the country is preparing for significant financial challenges in the coming weeks, as the government engages with international financial institutions to address economic pressures.
He added that Finance Minister Muhammad Aurangzeb is expected to hold key meetings with the International Monetary Fund (IMF) and the World Bank to discuss Pakistan’s economic situation and potential policy responses.
The government has also urged provinces to contribute to relief measures and adopt a coordinated approach to mitigate the impact of rising energy costs.
The proposal for early market closures remains under consideration, with further consultations expected before any final decision is announced.