InfoAnda - Pakistani banks to close on Saturdays to save power

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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Singapore Asia Pacific World Pakistani banks to close on Saturdays to save power Reuters - Saturday, April 24 Send IM Story Print KARACHI, April 23 - Pakistan's central bank said on Friday that it and all commercial banks will be closed on Saturdays as part of measures to cut state electricity consumption. Pakistan, battling a chronic energy shortage announced the measures this week which included an extra day off for government workers and turning off half the lights in government offices. "The State Bank will be closed on Saturdays starting from tomorrow," said Syed Wasimuddin, chief spokesman of SBP. Saturday is a working day in Pakistan. Prime Minister Yusuf Raza Gilani and Water and Power Minister Raja Pervaiz Ashraf announced the series of measures they said would reduce a 4,500-5,000 MW daily shortfall and encourage conservation in the private sector. [ID:nSGE63L0IB] Shopping centres will be ordered to close at 8 p.m. while lighted billboards, neon signs and other commercial decorative lights will be switched off. The crisis has crippled industry, notably textiles, the main export sector and largest employer in the manufacturing sector. The International Monetary Fund has cited the power shortage as a serious economic constraint. (For more Reuters coverage of Afghanistan and Pakistan, see: http://www.reuters.com/news/globalcoverage/afghanistanpakistan) Recommend Send IM Story Print Related Articles India cbank eases accounting rules on infra bonds Reuters - 24 minutes ago WRAPUP 2-G20 aims to reassure on recovery despite Greece Reuters - 25 minutes ago Greece only seeking first IMF tranche-G20 source Reuters - 28 minutes ago NEWSMAKER-MTN's Nhleko wants to bow out in style Reuters - 32 minutes ago Russia's MTS outsources some ops to Nokia Siemens Reuters - 37 minutes ago News Search Top Stories Greece pleads for debt aid At least 32 killed in Baghdad attacks Greece asks for activation of EU-IMF debt rescue Greece to seek EU-IMF debt bailout: govt source 'Major oil spill' as rig sinks off US coast More Top Stories » Most Popular Most Viewed Most Recommended Airlines want compensation as Europe's skies reopen At least 45 wounded in Bangkok blasts: hospital Stars shine spotlight on the planet for Earth Day Apple engineer loses iPhone prototype Iceland turns to jokes -- and soul-searching More Most Viewed » Apple engineer loses iPhone prototype Two-million-year-old hominid sheds light on evolution Taiwan's male 'Susan Boyle' a web sensation Airlines want compensation as Europe's skies reopen More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos World Cup 2010 Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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