Pakistan to set weekly fuel prices; considers shorter work and school

ISLAMABAD: The government has finalised an energy conservation plan in response to concerns over a potential closure of the Strait of Hormuz and the growing regional energy crisis, officials said on Friday.

Under the new plan, the government will set petroleum product prices on a weekly basis, while measures to reduce working days in offices and educational institutions, similar to those adopted during the COVID‑19 pandemic, are also being considered.

Officials said that the new pricing mechanism for petroleum products and RLNG aims to reduce overall demand, with weekly adjustments expected to better manage supply and consumption.

In the first phase of the plan, the government will implement measures in the public sector, including increasing the number of holidays in line with strategies used during the COVID‑19 outbreak.

The second phase will involve private schools, universities, and hospitals, where online assignments and virtual work systems may be introduced. Weekly fuel price adjustments are also planned under this phase.

A high-powered committee on petroleum product reserves and consumption, chaired by the Prime Minister Shehbaz Sharif, met to review the strategy in light of the changing regional situation. Finance Minister Mohammad Aurangzeb briefed the Prime Minister during the session.

Officials said that the plan includes reducing working days for offices, educational institutions, and service providers, while introducing virtual learning systems for schools and universities and a work-from-home framework for offices is under consideration.

“These measures are intended to optimise the use of existing fuel reserves and lower overall demand,” an official told Reuters. Weekly adjustments to petroleum prices will also be implemented to regulate consumption.

Authorities said a strict crackdown on hoarding, illegal storage, and smuggling of petroleum products has been decided, and the Prime Minister is expected to announce key decisions later on Friday.