Pakistan to shut markets and restaurants early to save power amid economic crisis | CNN Business

TL;DR

The government has ordered all markets to close by 8.30 pm and restaurants by 10 pm, according to a tweet by its ruling party.The announcement comes at a time when Pakistan’s foreign exchange reserves have dwindled to alarmingly low levels.In December, Pakistan’s total liquid foreign exchange reserves stood at $11.7 billion, which is half the amount it held at the start of last year, according to the central bank.The country’s finances are also suffering because of differences with The International Monetary Fund (IMF) over a review process, which has delayed the release of a $1.1 billion bailout tranche.“Survival without IMF is not an option given the scale of the external financing needs,” wrote analysts at Arif Habib, a Karachi-based research firm, in a recent report."

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