The government is thinking to reduce working days to save fuel usage and cost due to high rates of fuel internationally and the dollar rate peak.
Amid rising oil consumption and imports billowing to higher international prices, the government is examining the possibility of fuel conservation through reduced working days a week. It hopes to save an estimated annual foreign exchange of up to $2.7 billion.
Govt to reduce working days to save fuel usage
With oil consumption rising and import bills due to higher international prices, the government is exploring ways to save fuel by reducing the number of working days per week.
It expects to deliver estimated annual foreign exchange savings of up to $2.7 billion.
Estimates are based on three different working days and fuel savings scenarios prepared by the State Bank of Pakistan for US$1.5-2 billion in foreign exchange savings to 7 Billion.
Pakistan’s total oil import for the first ten months (July-April) of the current fiscal year (FY22) has surpassed US$17 billion, showing a massive 96% growth compared to the same period of the pre-tax year.
This includes imports of petroleum products worth US$8.5 billion and crude oil worth US$4.2 billion, up 121% and 75%, respectively.