Pakistan has made the decision to cease making and selling conventional fans. On Wednesday, the central government decided to implement the Ministry of Science and Technology’s suggestion to reduce energy use. From June 1, this ruling will be in force.
The Express Tribune reported that the National Power Conservation Policy has mandated a prohibition on the manufacture and selling of conventional fans. In this respect, a government Statutory Regulatory Order (SRO) will be published shortly.
It is the responsibility of the National Energy Efficiency and Conservation Authority (NEECA) to only approve fans that use less than 80 watts of electricity. Additionally, it has been mandated that the national standards for fans in the nation be updated by the Pakistan Standards and Quality Control Authority (PSQCA).
Pakistan’s reserves will not cover even three weeks of import expenses
The government has decided to authorize the manufacture and sale of fans in the nation that are in the first level of star rating group and use less than 80 watts of electricity. This group includes AC inverter fans, which use between 45 and 50 volts of power. In order to grow the industry similarly to that of energy-efficient lights, associations that represent Pakistan’s fan manufacturing sector will be considered before producing energy-efficient fans.
A plan to give each household an energy-efficient fan in payments is also being taken into consideration while keeping affordability in mind.
The future of children in Pakistan is uncertain
The foreign currency assets of Pakistan are decreasing. The State Bank of Pakistan reported on February 3 that the nation’s foreign currency reserves, which are already severely depleted due to the extreme financial crisis, have dropped by 170 million dollars. At this time, it totals $2.9 billion. The International Monetary Fund (IMF) is seeking funding for Pakistan. This topic has been discussed. However, due to ongoing talks, this crucial budgetary accommodation has not yet been made.
Pakistan’s foreign exchange reserves fell below $3 billion
During discussions with the Pakistani administration, the IMF’s objectives have changed. As a result of the discussions’ latest impasse, the staff’s agreement is once more reversing course. The Pakistani equity market experienced a significant decline on March 28 as a result of the dissemination of this news. The KSE-100 index, the country’s primary market gauge, dropped 435.08 points, or 1.07 percent, that morning.
Pakistan is currently experiencing a severe fiscal catastrophe as a result. The Pakistani rupee is now worth 265 rupees per dollar as its value is declining. Foreign currency assets reached an all-time low. The current amount of reserves is the lowest since 1998. The rising cost of products is putting strain on the general public. Everything is expensive beyond the means of the average person, including flour, lentils, rice, and milk. In this circumstance, the cost of tea, one of the nation’s most famous beverages, has soared. A rapid rise in prices has been observed. The price on the open market has now risen to 1,600 Pakistani rupees.
Scissors at the expense of Pakistan’s minister-advisors in the face of financial crisis
The government of Pakistan is reducing the minister-advisers’ salaries and travel costs as part of economic measures, according to Pakistan’s Prime Minister Shahbaz Sharif, who made the announcement last month. Through economic measures, his administration hopes to yearly save 200 billion Pakistani rupees.
Pakistan has made the decision to halt the manufacture and distribution of conventional fans in this circumstance.
