Business

PSO and KESC sign fuel supply agreement

April 23, 2010

KARACHI: Pakistan State Oil (PSO) and Karachi Electric Supply Corporation (KESC) have signed a 10 year fuel supply agreement (FSA) on mutually agreed terms, in a bid to cement a long term relationship between the two organisations.

According to the agreement, PSO will supply up to 33,000 metric tons of furnace oil to KESC every month under the new commercial terms, PSO announced here on Friday.

Managing director PSO Irfan K. Qureshi and CEO KESC Tabish Gauhar signed the FSA on behalf of the respective entities.

Speaking on the occasion Tabish Gauhar said that the landmark agreement will ensure smooth supply of furnace oil to KESC. "This will help us plan our operations better and effectively manage electricity needs of Karachi, which happens to be the industrial and business hub of Pakistan", he added.

Here we would like to extend a special word of thanks to PSO management for their support and cooperation in the finalisation of this critical agreement. We hope to enter into a similar "Gas SupplyAgreement" with SSGC soon, Gohar noted.

Qureshi stated that this is a well negotiated agreement between both parties that shall serve as a milestone helping streamline the fuel supply to KESC.

COMMENTS (2)

Syed A. Mateen | 14 years ago | Reply I hope that KESC will really buy the fuel supplied by PSO to generate the electricity and will provide uninterrupted electricity supply to Karachiites. Despite privatization, KESC has failed to achieve to required target to generate electricity, as there is no proper planning as how to manage the load. KESC has hired inexperienced people and while receiving telephone calls on 118, they are unable to tell to the consumers that how much more time load-shedding will take to end. If KESC cannot run it show properly than it would be wise that Government should take over its control and manage the electricity supply. Karachi should be divided into four parts and each of it should be able to generate independent power supply.

Adnan | 14 years ago | Reply This seems to be good and beneficial deal to mitigate the power crisis in Karachi between two corporations but the real benefits and relief must be transfer at the consumers end. This might be a good initiative that should have taken early but the attitude of our institutions and Government is unfortunatly reactive rather than proactive. This deal migh be benefiacial for the short term but for the long term, our so called KHAADIM E ALA must design and develope HYDRAL power projects for cheapist production of power by cheapist & abundent resource i-e Coal and Water.

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