The plan includes weekly oil price reviews, holidays, working from home
To cover losses, successive governments have hiked electricity prices and imposed a surcharge of Rs 3.23 per Photo: file
In light of the possible closure of the Strait of Hormuz and fears of an energy crisis, the federal government finalized an energy conservation plan on Friday.
According to sources, a new price mechanism has been approved to reduce the demand for petroleum products and Regasified Liquefied Natural Gas (RLNG), after which the prices of petroleum products will be revised every week. Sources say that in the first phase, the number of holidays will be increased based on the pattern of the mechanism adopted during the COVID-19 pandemic.
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The government has also drawn up a strategy consisting of the first, second and third phase, which includes three to four dozen proposals.
In the first phase, the government will implement measures in the public sector, while in the second phase, an online assignment system will be introduced at private schools, universities and hospitals; In addition, the prices of oil products will also be revised weekly.
In view of the changed situation in the region, a meeting of the High-level Committee on Petroleum Products Reserves and Consumption was held under the chairmanship of Prime Minister Shehbaz Sharif. According to sources, Finance Minister Muhammad Aurangzeb briefed Prime Minister Shehbaz at the meeting.
Sources say a plan has been drawn up to reduce working days for offices, educational institutions and service providers, while a virtual education system in educational institutions and a mechanism to work from home to offices are also under consideration.
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According to officials, efficient utilization of existing fuel reserves and reduction of demand will be possible through these measures. Under the plan, a mechanism for weekly revision of prices of petroleum products is also under consideration.
It has also been decided to implement a strict crackdown to prevent hoarding, illegal storage and smuggling, with Prime Minister Shehbaz to take important decisions in this regard.
