PSO reduces fuel supply to power plants – Alfalah Securities Limited

Karachi, June 19, 2012 (PPI-OT): Pakistan State Oil (PSO) has lowered the supply of furnace oil to thermal power plants reducing from 33,000 MT to 8,000 MT per day.

According to Alfalah Securities Limited, this is done after PSO’s total receivables surged to PkR 217.4 bn due to non-payment from the power sector and other sectors companies, against PkR 179.36 bn payable to local and international fuel suppliers. HUBCO has to pay PkR 104.058 bn outstanding dues followed by WAPDA with PkR 55.071 bn, and KAPCO with PkR 29.5 bn outstanding dues. The decline in supply of fuel to power plants has resulted in acute power shortage across the country which would seriously hamper productivity and has also resulted in shifting gas from Fertilizer sector toward power sector to slightly avert the crisis like situation.

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