Power crisis: Finance ministry releases funds for PSO

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.