Early closure of markets: Punjab rejects Centre's energy conservation plan

Web Desk 07:58 PM | 3 Jan, 2023
Early closure of markets: Punjab rejects Centre's energy conservation plan
Source: File Photo

LAHORE – The Punjab government on Tuesday refused to accept the federal government’s decision regarding early closure of markets, hotels and marriage halls as part of its energy saving plan to cut dependency on imported fuel for power generation.

The reaction from the provincial government where PTI is in power comes after the Centre announced the closure of markets at 8:30pm and wedding halls at 10pm. Defence Minister Khawaja Asif while announcing the energy conservation plan said implementing the new schedule for markets and halls would help Pakistan save Rs62 billion.

Reacting to the federal government’s decision, Punjab senior minister Mian Aslam Iqbal said the provincial government was not taken on board in this regard. He said the Punjab government would discuss the matter with traders and representatives of chambers of commerce before taking the decision about closure of markets.

Meanwhile, a spokesperson of the Khyber Pakhtunkhwa government said the provincial government was yet to take a decision about implementing the Centre’s decision. Barrister Muhammad Ali Saif, the special assistant to KP Chief Minister Mahmood Khan said: “We are have already placed in measure to conserve energy in the province”.

On the other hand, All-Pakistan Anjuman Tajiran (APAT) President Ajmal Balochh has also rejected the decision regarding earlier closure of markets, asserting that the shops and restaurants will not close before 10pm and 11pm, respectively.

He said that the PDM-led government had taken unilateral decisioni as the traders’ association had already submitted its reservations in this regard. He said the government should limit its power consumption instead of imposing curbs on traders.

He highlighted that the business community purchases the most expensive electricity, and therefore, favourable strategies should be nade for them.

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USD to PKR: Pakistani rupee remains stable against dollar amid ongoing talks with IMF

KARACHI – Pakistani rupee, which is facing blows in the open market, remained stable against the US dollar, in the inter-bank market on Wednesday.

The local currency moved slightly upward during the opening hours of trading in the inter-bank market. Before noon, PKR was hovering around 285.22, with a slight increase of Rs0.13.

As the situation remained under control in the interbank market, the rupee hits a fresh record low in the open market and was selling at 315 per dollar.

In a recent development, the IMF mission chief shared positive news, confirming that talks are underway with Pakistani authorities. The resumption of the IMF programme remains important for the crisis-hit country.

Today's gold rates in Pakistan – May 31 2023

KARACHI - The price of a single tola of 24-karat gold in Pakistan is Rs 232,300 on Wednesday.The price of 10 grams of 24k gold was recorded at Rs199,160.   

Likewise, 10 grams of 22k gold were being traded for Rs163,624 while a single tola of 22-karat gold was being sold at Rs 190,880.

Note: The gold rate in Pakistan is fluctuating according to the international market so the price is never been fixed. The below rates are provided by local gold markets and Sarafa Markets of different cities.

City Gold Silver
Lahore PKR 232,300 PKR 2,485
Karachi PKR 232,300 PKR 2,485
Islamabad PKR 232,300 PKR 2,485
Peshawar PKR 232,300 PKR 2,485
Quetta PKR 232,300 PKR 2,485
Sialkot PKR 232,300 PKR 2,485
Attock PKR 232,300 PKR 2,485
Gujranwala PKR 232,300 PKR 2,485
Jehlum PKR 232,300 PKR 2,485
Multan PKR 232,300 PKR 2,485
Bahawalpur PKR 232,300 PKR 2,485
Gujrat PKR 232,300 PKR 2,485
Nawabshah PKR 232,300 PKR 2,485
Chakwal PKR 232,300 PKR 2,485
Hyderabad PKR 232,300 PKR 2,485
Nowshehra PKR 232,300 PKR 2,485
Sargodha PKR 232,300 PKR 2,485
Faisalabad PKR 232,300 PKR 2,485
Mirpur PKR 232,300 PKR 2,485


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