NEWS ARCHIVE
  • Login
NewsRadio - English
  • HOME
  • LOCAL
    Showers above 100mm predicted in several parts of the country

    Heavy showers about 150mm likely at some places

    Appointment of selection committees for all sports under a new system

    East Container Terminal construction work to begin today

    Sri Lanka’s merchandise exports exceed USD 13 billion in 2022 -EDB

    Vendors inconvenienced with no wholesale traders

    Prices of vegetables & fruits drop significantly

    Govt. to receive technical aide on debt restructuring

    Creditors seek clarity on Sri Lanka’s local bonds for debt talks -Report

    Future of Sinhala Cultural Institute discussed

    Future of Sinhala Cultural Institute discussed

    Trending Tags

    • Pandemic
  • INTERNATIONAL
  • EDITORIAL
  • SPORTS
  • #COVID-19
  • NEWS TEAM
  • සිංහල
No Result
View All Result
  • HOME
  • LOCAL
    Showers above 100mm predicted in several parts of the country

    Heavy showers about 150mm likely at some places

    Appointment of selection committees for all sports under a new system

    East Container Terminal construction work to begin today

    Sri Lanka’s merchandise exports exceed USD 13 billion in 2022 -EDB

    Vendors inconvenienced with no wholesale traders

    Prices of vegetables & fruits drop significantly

    Govt. to receive technical aide on debt restructuring

    Creditors seek clarity on Sri Lanka’s local bonds for debt talks -Report

    Future of Sinhala Cultural Institute discussed

    Future of Sinhala Cultural Institute discussed

    Trending Tags

    • Pandemic
  • INTERNATIONAL
  • EDITORIAL
  • SPORTS
  • #COVID-19
  • NEWS TEAM
  • සිංහල
No Result
View All Result
NewsRadio - English
No Result
View All Result
Home INTERNATIONAL

Pakistan economic crisis forces malls and markets to close early

Tamara Rebeira by Tamara Rebeira
4 weeks ago
in INTERNATIONAL
0
Pakistan economic crisis forces malls and markets to close early
0
SHARES
4
VIEWS
Share on FacebookShare on TwitterShare on Whatsapp

Pakistan’s government has ordered shopping centres and markets to close early every day as the country faces an economic crisis.

Defence minister Khawaja Asif says the measures will save the South Asian nation around 62bn Pakistani rupees ($274.3m; £228.9m).

Pakistan generates most of its power using imported fossil fuels.

Global energy prices jumped last year, putting further pressure on the country’s already dwindling finances.

To pay for those energy imports the country needs foreign currency, especially US dollars.

The Pakistan government had $11.7bn of foreign currencies available last month after its reserves fell by about 50% last year.

That is only enough to cover around one month’s worth of all the country’s imports, most of which is energy.

Mr Asif told reporters on Tuesday that shopping malls and markets would have to close by 20:30 local time and government departments had been ordered to reduce their electricity consumption by 30%.

Meanwhile, the production of inefficient electric fans will be banned from the start of July.

“The federal cabinet has immediately approved the Energy Conservation Plan’s enforcement,” the ruling Pakistan Muslim League-N (PML-N) party said on Twitter.

The nation of 220 million people has been struggling for years to stabilise its economy.

In 2019 Pakistan secured a $6bn bailout from the International Monetary Fund, while in August last year it received a further $1.1bn.

The government is also negotiating with the IMF over the delayed release of another $1.1bn of bailout money.

Pakistan’s finances were also impacted last year by devastating floods that hit the country.

In October the World Bank estimated that the flooding had caused $40bn of damage to the country.

Tamara Rebeira
Previous Post

Congress adjourns without a speaker for the first time since 1923

Next Post

SL encountered the most challenging year in 2022-CBSL

Tamara Rebeira

Tamara Rebeira

Related Posts

Pakistan mosque blast death toll up to 32; 150 injured
INTERNATIONAL

Pakistan mosque blast death toll up to 32; 150 injured

by Tamara Rebeira
January 30, 2023
China reopens borders to tourists after 3 years of Covid closure
INTERNATIONAL

Chinese officials say current wave is ‘coming to an end’

by Tamara Rebeira
January 30, 2023
At least 17 killed after explosion in Peshawar mosque blast
INTERNATIONAL

At least 17 killed after explosion in Peshawar mosque blast

by Tamara Rebeira
January 30, 2023
India’s Gautam Adani is now the world’s second richest person
INTERNATIONAL

Adani Group says fraud claim a ‘calculated attack on India’

by Hazari Mohamed
January 30, 2023
Strikes to disrupt public transport in France tomorrow
INTERNATIONAL

Strikes to disrupt public transport in France tomorrow

by Hazari Mohamed
January 30, 2023
Next Post
Central Bank of Sri Lanka increases SDFR and SLFR

SL encountered the most challenging year in 2022-CBSL

  • Address: No 52 5th Lane, Colombo 03
  • Email: news@tnlradio.com
  • Phone: 0117-777-555
  • Extention: 561 / 562 / 563
  • Fax: 0112-372-993
  • Address
  • Email
  • Phone
  • Ext
  • Fax
  • No 52 5th Lane, Colombo 03
  • news@tnlradio.com
  • 0117-777-555
  • 561 / 562 / 563
  • 0112-372-993
FEEDBACK

© 2021 NEWSRADIO, All Rights Reserved. Developed by TNL Radio Network - IT

No Result
View All Result
  • HOME
  • LOCAL
  • INTERNATIONAL
  • EDITORIAL
  • SPORTS
  • #COVID-19
  • NEWS TEAM
  • සිංහල

© 2021 NEWSRADIO, All Rights Reserved. Developed by TNL Radio Network - IT

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In