LAHORE: A suggestion is under consideration to close the markets early in Punjab to control the economic pressure started after exorbitant electricity bills.
Sources within the Planning Commission stated that a decision had been made to seek suggestions from all four provinces regarding the proposal to close shops earlier.
Under the plan, shutting shops at 7pm could reduce electricity bills by up to 25% as power tariffs increase manifold from 6pm to 11pm.
Such a proposal always faced opposition from traders, who neither want to be part of the tax net nor want to close their shops early, they added.
The aim of such a proposal was to promote part-time business activities in markets in the evenings, sources said and added that all countries, including the United States, Britain, China, Europe, Thailand, and Malaysia, close shops at 7pm and Pakistan would have to change its old routine for progress.
This is not a new suggestion as the Pakistan Democratic Movement-led government also suggested this in December 2022.
The-then government had claimed that the early closure of markets, hotels, and restaurants could save Pakistan Rs62 billion.
Pakistan is taking steps to improve its economy and get the International Monetary Fund bailout package.
The South Asian country and the International Monetary Fund reached an agreement for a loan programme in July. It would be the country’s 24th “longer and bigger” loan programme.
In its statement following the staff-level agreement with Islamabad, the IMF said the new Extended Fund Facility programme was subject to approval from its executive board and obtaining “timely confirmation of necessary financing assurances from Pakistan’s development and bilateral partners”.
