The federal government has finalised an energy conservation plan amid concerns over a potential energy crisis following fears of disruption in the Strait of Hormuz.
According to sources, the government has approved a new pricing mechanism aimed at reducing the demand for petroleum products and RLNG, under which prices of petroleum products may be adjusted on a weekly basis.
The move is part of a broader strategy prepared in three phases, containing several proposals to manage energy consumption and ensure efficient utilisation of existing fuel reserves.
In the first phase, measures will be implemented within the public sector, while the second phase will extend to private schools, universities and hospitals, where an online assignment system may be introduced. The plan also includes weekly revisions in petroleum product prices.
Sources said the strategy also draws on measures adopted during the COVID-19 period, including increasing the number of public holidays to reduce fuel consumption.
The plan was discussed during a meeting of a high-powered committee on petroleum reserves and consumption chaired by Prime Minister Shehbaz Sharif.
During the meeting, Finance Minister Muhammad Aurangzeb briefed the prime minister on the evolving regional situation and its possible impact on energy supplies.
Officials said proposals are also under consideration to reduce working days for offices, educational institutions and service providers, while virtual learning systems and work-from-home arrangements are being reviewed for educational institutions and offices.
Authorities believe these steps would help ensure efficient use of available fuel reserves and reduce overall demand for petroleum products.
Sources further said the government has decided to launch a strict crackdown against hoarding, illegal storage and smuggling of petroleum products. Following the briefing, the prime minister is expected to take key decisions on the matter later today.
