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| Pakistan economic crisis forces malls and markets to close early | Pakistan economic crisis forces malls and markets to close early |
| (about 1 month later) | |
| Pakistan's government has ordered shopping centres and markets to close early every day as the country faces an economic crisis. | Pakistan's government has ordered shopping centres and markets to close early every day as the country faces an economic crisis. |
| Defence minister Khawaja Asif says the measures will save the South Asian nation around 62bn Pakistani rupees ($274.3m; £228.9m). | Defence minister Khawaja Asif says the measures will save the South Asian nation around 62bn Pakistani rupees ($274.3m; £228.9m). |
| Pakistan generates most of its power using imported fossil fuels. | Pakistan generates most of its power using imported fossil fuels. |
| Global energy prices jumped last year, putting further pressure on the country's already dwindling finances. | Global energy prices jumped last year, putting further pressure on the country's already dwindling finances. |
| To pay for those energy imports the country needs foreign currency, especially US dollars. | To pay for those energy imports the country needs foreign currency, especially US dollars. |
| The Pakistan government had $11.7bn of foreign currencies available last month after its reserves fell by about 50% last year. | The Pakistan government had $11.7bn of foreign currencies available last month after its reserves fell by about 50% last year. |
| That is only enough to cover around one month's worth of all the country's imports, most of which is energy. | That is only enough to cover around one month's worth of all the country's imports, most of which is energy. |
| Pakistan country profile | Pakistan country profile |
| 'Millions still need help after Pakistan floods' | 'Millions still need help after Pakistan floods' |
| Why attack on Pakistan's ex-PM matters to India | Why attack on Pakistan's ex-PM matters to India |
| Mr Asif told reporters on Tuesday that shopping malls and markets would have to close by 20:30 local time and government departments had been ordered to reduce their electricity consumption by 30%. | Mr Asif told reporters on Tuesday that shopping malls and markets would have to close by 20:30 local time and government departments had been ordered to reduce their electricity consumption by 30%. |
| Meanwhile, the production of inefficient electric fans will be banned from the start of July. | Meanwhile, the production of inefficient electric fans will be banned from the start of July. |
| "The federal cabinet has immediately approved the Energy Conservation Plan's enforcement," the ruling Pakistan Muslim League-N (PML-N) party said on Twitter. | "The federal cabinet has immediately approved the Energy Conservation Plan's enforcement," the ruling Pakistan Muslim League-N (PML-N) party said on Twitter. |
| The federal cabinet has immediately approved the Energy Conservation Plan's enforcement. pic.twitter.com/RVxhjaiYyE | The federal cabinet has immediately approved the Energy Conservation Plan's enforcement. pic.twitter.com/RVxhjaiYyE |
| The nation of 220 million people has been struggling for years to stabilise its economy. | The nation of 220 million people has been struggling for years to stabilise its economy. |
| In 2019 Pakistan secured a $6bn bailout from the International Monetary Fund, while in August last year it received a further $1.1bn. | In 2019 Pakistan secured a $6bn bailout from the International Monetary Fund, while in August last year it received a further $1.1bn. |
| The government is also negotiating with the IMF over the delayed release of another $1.1bn of bailout money. | The government is also negotiating with the IMF over the delayed release of another $1.1bn of bailout money. |
| Pakistan's finances were also impacted last year by devastating floods that hit the country. | Pakistan's finances were also impacted last year by devastating floods that hit the country. |
| In October the World Bank estimated that the flooding had caused $40bn of damage to the country. | In October the World Bank estimated that the flooding had caused $40bn of damage to the country. |
| You may also be interested in: | You may also be interested in: |
| Watch: Malala talks with people affected by floods in Dadu district, Sindh province, Pakistan | Watch: Malala talks with people affected by floods in Dadu district, Sindh province, Pakistan |
| Watch: Malala talks with people affected by floods in Dadu district, Sindh province, Pakistan | Watch: Malala talks with people affected by floods in Dadu district, Sindh province, Pakistan |
| Related Topics | |
| Pakistan | |
| Shopping centres | |
| Electricity |