ISLAMABAD - With unrelenting efforts of Prime Minister Mir Hazar Khan Khoso prospects of release of funds to tackle power crisis has brighten as high ups of the Finance Ministry Tuesday pledged to release first installment of Rs.10 billion soon.
The premier on April 10 announced Rs.20 billion to control spiraling up power outages. However, officials at finance ministry found reluctant to release funds due to unknown reasons. But with placement of new economic team in the finance ministry, it seems that worsening power load shedding, which has become out of control, would witness decreased power outages in near future across the country.
In a high-level meeting held under the chairmanship of Prime Minister Mir Hazar Khan Khoso at the PM’s House to review the excessive power loadshedding in the country. Officials of finance ministry have agreed to release a sum of Rs.10 billion and promised a similar amount for provision of oil as and when required.
Sources also told that the Ministry of Water and Power has briefed the Prime Minister about current generation, which was hovering around 9,000MW against a demand of over 12,500 MW. At present the total demand of the energy in the country is estimated at 80 million tons equivalent of oil while supply was 65 million tons whereas oil potential of the country is estimated at 27,000 million barrels and gas potential at 283 trillion cubic feet. However, nearly 500 million cubic feet of gas is available and gap between the gas demand and supply is estimated at 230 million cfd.
Earlier, state-owned oil giant-PSO- in a bid to meet fuel supply target of April and May had asked the government to provide Rs72 billion to meet the demands of power plants. However, no release of funds by finance ministry has increased the financial constraints of Pakistan State Oil (PSO).
It is to be noted here that up to 16 hours power outages have disturbed the routine life. Students, housewives, traders, businessmen, industrialists etc have been bearing heavy brunt of disproportionate loadshedding as domestic and commercial activities halted very much in the country