Govt eases austerity measures after fuel price cuts, keeps market timing rules

Prime Minister Shehbaz Sharif has approved the withdrawal of fuel conservation and additional austerity measures notified by the Cabinet Division since March 9, after the government announced a major reduction in petroleum prices.

However, the notification said market timings issued on June 3 and June 10 will remain applicable.

The closing times for shops, markets, shopping malls, bazaars, departmental and general stores, marriage halls, commercial places, festive events, restaurants, cafés and food outlets will therefore remain unchanged.

The notification further stated that austerity measures already in place before the outbreak of the Middle East conflict will continue.

These include measures notified by the Finance Division, Cabinet Division and other policy directions issued before March 9.

Market timings notified on June 3 and June 10 will remain in force, with shops, markets, malls, bazaars and departmental stores closing at 9:00 pm, standalone grocery and kiryana stores and marriage halls at 10:00 pm, and restaurants, cafés and food outlets at 11:00pm, while takeaway and delivery services remain exempt.

The government on Thursday has cut petrol by Rs74 per litre and high-speed diesel by Rs67 per litre.

Under the revised pricing structure, petrol will fall from Rs373 per litre to Rs299 per litre, while high-speed diesel will decline from Rs378 per litre to Rs311 per litre.

In a statement issued by the Prime Minister’s Office, the premier said the government was passing on the benefit of lower global oil prices to the public.

The reduction is expected to provide relief to households, transporters, farmers and industries.