Loadshedding likely to be increased in Karachi
Loadshedding is likely to be increased in Karachi amid extremely hot weather while the power crisis is deepening with each passing day.
KARACHI: The loadshedding duration is likely to be increased in Karachi, the port city of Pakistan, amid extremely hot weather while the power crisis is deepening with each passing day.
The sole power distribution company of Karachi, K-Electric warned of extended loadshedding hours for Karachiites after failing to receive Rs25 billion subsidy from the Centre.
Sources told News360 that the federal government led by Pakistan Muslim League Nawaz (PML-N) has rejected to grant Rs25 billion subsidy to the K-Electric which reduced the purchasing power of the power distribution company for furnace oil to run their electricity generation plants.
Moreover, the banks have also rejected to give a credit line to the company, whereas, the federal government refused to give any guarantee to K-Electric.
Many companies linked to the energy sector are reaching potential default due to non-payment of subsidy amount from the Centre, sources said.
The prices of LNG and petroleum products have peaked in the global market which increased the power generation cost up to 48 per cent.
Sources added that the rise in fuel prices globally will directly affect the power generation which will increase the cost of per unit electricity up to Rs10.24, whereas, Rs10 to Rs12 per unit will be increased in terms of the fuel adjustment charges.
