Pakistan govt mulls reducing working days, move expected to conserve fuel

The Pakistan government is now examining the possibility of conserving fuel by reducing the number of working days. According to a media report, the cash-strapped government believes that the move to cut down working days would save an estimated USD 2.7 billion in foreign exchange. As per the report, relevant authorities like power and petroleum have been advised to come up with their estimates in order to make a cost-benefit analysis before making a decision to support the Pakistan economy. 

The estimated amount saved by reducing the number of working days is based on three different scenarios in terms of working days and fuel conservation. The estimates that suggest foreign exchange savings of USD 1.5 billion to USD 2.7 billion were prepared by the State Bank of Pakistan, the Dawn newspaper reported. As per the estimates drawn by the bank, one more working day a week would cost the nation about USD 642 million worth of additional petroleum related consumption, further pulling down the already struggling Pakistan economy. 

As per the report, Pakistan's total oil imports surged beyond USD 17 billion in the first 10 months (July-April) of the current fiscal year (FY22). This comes as massive 96 per cent growth as compared to the same period in the last fiscal year. 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, the report said. The report further claimed that the reduced consumption with one less working day a week provides an annual savings of about USD 2.1 billion.

Imran Khan lauds India on fuel price cut

The Centre's recent decision to cut excise duty on petrol and diesel by Rs.8 per litre and Rs.6 per litre respectively found an unlikely admirer in ousted Pakistan PM Imran Khan. Taking to Twitter on Saturday, Imran Khan lauded India for sustained pressure from the US despite being a part of the Quad and purchasing discounted oil from Russia. According to him, his government was seeking to follow a similar independent foreign policy to provide relief to the masses just like India. 

Lauding India’s move, Khan came down heavily on the Shehbaz Sharif-led government for leaving Pakistan's economy in shambles. Meanwhile, he reiterated the allegation that his government was toppled via a no-confidence motion as a result of a regime change. It is pertinent to note that Khan had earlier lauded India for ‘adopting an independent foreign policy’ while he was struggling to defeat the no-confidence motion filed by the then Shehbaz Sharif-led opposition.

(With PTI inputs)

Image: AP