Index Investing News
Friday, April 3, 2026
No Result
View All Result
  • Login
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
No Result
View All Result
Index Investing News
No Result
View All Result

Pakistan orders malls to close early amid economic crisis

by Index Investing News
January 10, 2023
in World
Reading Time: 2 mins read
A A
0
Home World
Share on FacebookShare on Twitter


ISLAMABAD — Pakistani authorities on Wednesday ordered shopping malls and markets to close by 8:30 p.m. as part of a new energy conservation plan aimed at easing the country’s economic crisis.

The move comes amid talks with the International Monetary Fund to soften some conditions on Pakistan’s $6 billion bailout, which the government thinks will cause a further increase in inflation.

Pakistan Defense Minister Khawaja Mohammad Asif and Minister for Power Ghultam Dastghir said on Tuesday that the government decided to shut establishments early as part of the new energy conservation plan approved by the Cabinet. Authorities also ordered wedding halls and restaurants to shut at 10 p.m.

The measures are designed to save energy and curtail the costs of imported oil, for which Pakistan spends $3 billion annually and which is used to generate most of Pakistan’s electricity.

Representatives of shopping malls, restaurants and shop owners want the government to reverse the decision. Many Pakistanis do their shopping and dine at restaurants as late as midnight.

Business leaders say the new measures will have a negative impact on their establishments, which suffered during the pandemic under government-imposed lockdowns to contain the spread of the coronavirus.

The IMF released the last crucial tranche of $1.1 billion to the cash-strapped country in August and since then, talks between the two parties have stalled.

Pakistan says last summer’s devastating floods caused up to $40 billion in damages, making it difficult for the government to comply with some of the IMF’s conditions, including increases in the price of gas and electricity and new taxes.

Also Wednesday, Finance Minister Ishaq Dar lashed out at former Prime Minister Imran Khan, accusing him of “raising a false alarm” by claiming that Pakistan could default on its foreign debt obligations.

Khan was ousted in a no-confidence vote in the parliament in April 2021. Dar said that under the new government of Premier Shahbaz Sharif, Pakistan has “brought back from the brink of default.”

Pakistan is also grappling with an uptick in militant violence since November, when the Pakistani Taliban — known as Tehreek-e-Taliban Pakistan or TTP — unilaterally ended a monthslong cease-fire with the government.

At a news conference Wednesday, Interior Minister Rana Sanaullah Khan sought to assure the nation that the security forces are countering the threat of the TTP while also trying to bring the militant group to the negotiating table. He said the Pakistani Taliban would first have to lay down their arms.

The TTP on Wednesday claimed responsibility for the killing of two intelligence officers in a gun attack outside in the eastern Punjab province the previous day. The Pakistani Taliban are separate but allied with the Afghan Taliban, who seized power in neighboring Afghanistan last year as U.S. and NATO troops withdrew after 20 years of war.



Source link

Tags: closecrisisearlyeconomicmallsordersPakistan
ShareTweetShareShare
Previous Post

Ukrainian Pharmacy Chain Introduces Cryptocurrency Payments – Bitcoin News

Next Post

Philippine leader cites stable ties on visit to Beijing

Related Posts

Protest shuts down ferry rides between Puerto Rico and Vieques, snarling travel plans

Protest shuts down ferry rides between Puerto Rico and Vieques, snarling travel plans

by Index Investing News
April 1, 2026
0

SAN JUAN, Puerto Rico -- A protest over a rate increase forced Puerto Rico’s government on Wednesday to cancel ferry...

Were 2 enough? Experts question number of air traffic controllers during LaGuardia midnight shift

Were 2 enough? Experts question number of air traffic controllers during LaGuardia midnight shift

by Index Investing News
March 28, 2026
0

Were two air traffic controllers enough?Following the deadly collision between an Air Canada jet and a fire truck on the...

Oriental turtle dove from east Asia turns up in Ireland — Earth Changes — Sott.net

Oriental turtle dove from east Asia turns up in Ireland — Earth Changes — Sott.net

by Index Investing News
March 24, 2026
0

© Richard CavesOriental Turtle Dove, Lisburn, Antrim.The head of communications and development at Birdwatch Ireland has said the rare oriental...

US Fitness app exposes location of French aircraft carrier — RT World News

US Fitness app exposes location of French aircraft carrier — RT World News

by Index Investing News
March 20, 2026
0

Le Monde traced the 262-meter warship using satellite imagery guided by fitness app data A French Navy officer using a...

Why Hitler still finds admirers in Pakistan

Why Hitler still finds admirers in Pakistan

by Index Investing News
March 16, 2026
0

Admiration for Adolf Hitler should be morally unthinkable anywhere. Yet in parts of Pakistan, his name still surfaces in conversations...

Next Post
Philippine leader cites stable ties on visit to Beijing

Philippine leader cites stable ties on visit to Beijing

FirstFT: IMF warns US inflation has not ‘turned the corner yet’

FirstFT: IMF warns US inflation has not ‘turned the corner yet’

RECOMMENDED

ZimVie: Focusing On Higher Growth Dental Business (NASDAQ:ZIMV)

ZimVie: Focusing On Higher Growth Dental Business (NASDAQ:ZIMV)

December 27, 2023
Foxconn shares slide after report says China probing taxes, land use | Technology

Foxconn shares slide after report says China probing taxes, land use | Technology

October 23, 2023
Snowballing to ,500/Month Money Circulation with 10 Rental Items

Snowballing to $8,500/Month Money Circulation with 10 Rental Items

May 6, 2025
A’s likely to file funding request with Nevada Legislature this week

A’s likely to file funding request with Nevada Legislature this week

May 15, 2023
Who Says China Has Locked within the EV Provide Chain?

Who Says China Has Locked within the EV Provide Chain?

August 2, 2022
Goldman Sachs 2024 stock strategy – sales growth

Goldman Sachs 2024 stock strategy – sales growth

November 20, 2023
Santos is a bridge too far

Santos is a bridge too far

January 27, 2023
Training officers sacked after probe into Florida college capturing — RT World Information

Training officers sacked after probe into Florida college capturing — RT World Information

August 27, 2022
Index Investing News

Get the latest news and follow the coverage of Investing, World News, Stocks, Market Analysis, Business & Financial News, and more from the top trusted sources.

  • 1717575246.7
  • Browse the latest news about investing and more
  • Contact us
  • Cookie Privacy Policy
  • Disclaimer
  • DMCA
  • Privacy Policy
  • Terms and Conditions
  • xtw18387b488

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In