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Power crisis: Finance ministry releases funds for PSO
Pepco sources said only three hours of relief from loadshedding would be provided with this payment.
Pepco sources said only three hours of relief from loadshedding would be provided with this payment.
ISLAMABAD: The finance ministry released Rs11 billion to the petroleum ministry for onward payment to Pakistan State Oil (PSO) for the resumption of full supply of fuel to the thermal power plants, Express 24/7 reported on Wednesday.
Prime Minister Gilani issued the directives to the finance ministry for the payment on the behalf of Pakistan Electric Power Company (Pepco) after which power generation has increased.
3,000 megawatts of electricity is now being included in the national grid.
However, Pepco sources said relief of 2-3 hours can be given to the masses even after this payment.
Declaring the given amount insufficient, sources said Pepco needs Rs55 billion on an urgent basis, or unscheduled loadshedding will continue after three days.
Officials said masses will get only a temporary relief if the required payment is not arranged.
On Sunday, PSO halted the supply of oil to power companies due to the non-payment of bills. Its receivables have crossed an alarming Rs155 billion.
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This is NOT the way you solve this crisis.
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@meekal ahmed:
Meekalsaab,
if the correct longterm plans and strategies were adopted, the crisis itself could have been avoided. The fact is in economics demand is defined as ‘desire and willingness to oay for an item’. When politicians allow people to believe that desire alone without the willingness to pay for it constitutes demand and people are ENTITLED to have their demand met, then the consequences are inevitable.
Across the border too we have those issues with irrigation – the reason why 60% of our counry’s agriculture is still rain-fed. But some Chief ministers are charging full price and delivering services and they are getting re-elected, so hopefully such governance practices will spread because after all politicians want to get re-elected.
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