Islamabad: Amid rising oil consumption and import bill owing to higher international prices, the Pakistan government is mulling the possibility of fuel conservation through reduced working days a week, hoping to save an estimated annual foreign exchange of up to $2.7 billion.
The estimates are based on three different scenarios in terms of working days and fuel conservation prepared by the State Bank of Pakistan for foreign exchange savings of $1.5 billion to $2.7 billion, Dawn news reported.
Pakistan’s total oil import during the first 10 months (July-April) of the current fiscal year (FY22) has gone beyond $17 billion, showing a massive 96 per cent growth compared to the same period last fiscal year. This includes import of petroleum products worth $8.5 billion and petroleum crude of $4.2 billion, showing 121 per cent and 75 per cent surge, respectively.
