Cut in market hours planned

Minister for Planning Ahsan Iqbal on Saturday called for revising market hours to reduce electricity consumption and curb oil use, as the country grapples with higher import costs driven by the global oil crisis. Addressing at a news conference in Lahore, the planning minister emphasised the importance of cutting energy expenditure to tackle the economic strain caused by the ongoing conflict. Noting that Pakistan relies on imported fuel for power generation, Iqbal underscored the need to improve efficiency in petrol and diesel consumption. He observed that markets in Pakistan usually opened after 12pm and remained open till 2am, using "electricity generated from imported fuel". "If we use electricity at night now, this will be generated from furnace oil, which costs the public Rs60-80 per unit," he maintained, asking whether such "irresponsible conduct" suited a nation facing an enormous crisis. "Crises are moments of behavioural change," he said. Iqbal stated that provinces were asked to consult with traders and "seek a plan of action within a week so we can ensure the early closure of markets". He said the measure would spare both the government and the public the "unnecessary burden" of billions of rupees, urging traders to take a considerate view on the matter. The planning minister maintained that markets in "developed countries or successful economies" such as Japan, the US, Malaysia, Indonesia and Turkiye did not remain open after 6pm or at most 8pm. "If you go into neighbourhoods after 9pm or 10pm, there is complete calm. People have gone to sleep. Early to bed, early to rise," he said, highlighting that this was also the routine advised by Islamic teachings. The minister said the government had taken notice of unnecessary hikes introduced by transporters in fares, noting that provinces had been directed to discuss the prices with transporters to prevent profiteering. "You can play your part in the country's development and stability by preventing the unnecessary usage of a single drop of petrol or diesel," he said, suggesting that the public adopt several fuel-saving measures. "If you commute to the office alone, then try to carpool with colleagues from your residence or area to your office," Iqbal said. He advised people not to use electricity when not needed so that the "country's import bill can be reduced as much as possible".   NPMC Iqbal on Saturday chaired an online meeting of the National Price Monitoring Committee (NPMC), directing provincial governments to take immediate measures to curb inflationary pressures following a recent increase in fuel prices. The meeting reviewed the impact of rising petroleum prices on transportation fares and essential commodities. Officials informed the committee that diesel prices had increased significantly, while transport fares across major urban centres had risen by 25–30 per cent on average, with some routes reporting increases of up to 50 per cent. Expressing concern, the minister instructed provincial authorities to ensure that transport departments issue revised fare notifications within 24 hours and strictly enforce them. He emphasised that the benefit of government subsidies must not be negated by arbitrary increases imposed by transporters. Iqbal directed chief secretaries to assign clear responsibility to provincial transport secretaries for fare regulation and compliance. He also called for enhanced field enforcement, including random inspections and verification mechanisms to check overcharging. Highlighting the likelihood of a "second-round effect" on food prices due to higher logistics costs, the minister ordered weekly monitoring of essential commodities. The NPMC would now convene on a weekly basis, particularly over the next month, to closely track price movements. The Pakistan Bureau of Statistics was tasked with sharing district-wise price rankings on a weekly basis to identify abnormal trends, enabling timely corrective action by provincial administrations. The minister further directed market committees and district administrations to regulate wholesale and retail prices and monitor profit margins to prevent hoarding and profiteering. Special emphasis was placed on ensuring uninterrupted supply of perishable and staple items, including tomatoes, onions, potatoes, wheat, rice and pulses. Referring to government subsidies, the minister stressed that their intended impact must be reflected in market prices. "If subsidies are fully passed on as price increases, their purpose becomes useless," he observed. The meeting also raised concerns over the price differential of urea fertilizer between domestic and international markets, warning of potential smuggling risks. Iqbal directed interior ministry and provincial authorities to take immediate steps to prevent smuggling and ensure adequate availability for farmers. With input from APP    

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