Pakistan plans early market closures amid fuel price surge

The Pakistan government has decided to introduce further measures under its fuel conservation policy, including early market closures.

Preparations are underway to shut markets at 8pm from 6 April, with a focus on shifting business activity to daytime hours to save electricity.

The federal government will consult provincial administrations before implementing the decision, with final approval expected through consensus between Prime Minister Shehbaz Sharif, the four chief ministers and the military leadership.

Global fuel supplies have been disrupted due to the conflict involving Iran, the United States and Israel, pushing prices to record levels worldwide.

Like many other countries, Pakistan has adopted austerity measures to maintain fuel supply, including school closures on Saturdays and restrictions on the use of government vehicles to reduce fuel consumption.

Meanwhile, the government has announced a sharp increase in fuel prices. Minister of State for Finance Ali Pervaiz Malik, alongside Finance Minister Muhammad Aurangzeb, confirmed that petrol will now cost Rs458.40 per litre, while diesel has been set at Rs520.35 per litre.

This reflects an increase of Rs138 per litre for petrol and Rs184 per litre for diesel, pushing prices to historic highs and raising concerns over a fresh wave of inflation.