Islamabad:
In view of the closure of the Strait of Hormuz and the potential energy crisis, the federal government has finalized a phased energy-saving plan and a new pricing mechanism to reduce the demand for imported petroleum products and RLNG. Under this plan, the prices of petroleum products will be revised on a weekly basis. Official meetings will be held virtually, and in the first phase, the number of holidays will be increased along the lines of the procedure adopted during the COVID-19 pandemic. The government has prepared a strategy comprising the first, second, and third phases, and nearly three to four dozen proposals have been compiled. These will be presented to Prime Minister Shehbaz Sharif today, Friday, for final approval, and implementation of the approved measures will begin immediately.
Top government sources told The News on Thursday that in the first phase, the government will implement these measures in the public sector, while in the second phase, an online assignment system will be introduced in private schools, universities, and offices. Along with this, petroleum product prices will be increased on a weekly basis. According to an official statement issued by the Ministry of Finance, a meeting of the committee formed by the Prime Minister to monitor petrol prices in light of the evolving situation in the region was held on Thursday under the chairmanship of Federal Minister for Finance Senator Muhammad Aurangzeb.
