Pakistan government examining possibility of reduced working days to conserve fuel
India Today
The Pakistani government is exploring the possibility of reducing working days in order to save fuel.
The cash-strapped Pakistan government is examining the possibility of conserving fuel by reducing the number of working days, a move by which it is hoping to save an estimated USD 2.7 billion in foreign exchange, a media report said on Monday.
The estimates are based on three different scenarios in terms of working days and fuel conservation prepared by the State Bank of Pakistan for foreign exchange savings of USD 1.5 billion to USD 2.7 billion, the Dawn newspaper reported.
Pakistan's total oil imports for the first 10 months (July-April) of the current fiscal year (FY22) has surged beyond USD 17 billion, displaying a massive 96 per cent growth compared to the same period in the last fiscal year, the report said.
This includes imports of petroleum products worth USD 8.5 billion and petroleum crude worth USD 4.2 billion, showing a 121 per cent and 75 per cent jump, respectively, it said.
A senior government official said that the relevant authorities - power and petroleum divisions - had been advised to come up with their estimates, including electricity conservation, to take up the matter in a holistic manner with cost benefit analysis of various sectors before reaching a conclusion.
He said the central bank's estimates mostly covered petroleum products consumption in normal working days a week, including retail business and government offices and educational institutions, which in any case would be on summer holidays.
However, it did not take into account LNG imports, which mostly go into the power sector. During the first 10 months of the current fiscal year, LNG imports amounted to USD 3.7 billion, showing an increase of 83 per cent, though import quantities were on the lower side.
