KARACHI - The Karachi Electric Supply Company (KESC) has owed a staggering amount of Rs 65.35 billion to WAPDA, Sui Southern Gas Company and Pakistan State Oil (PSO), The Nation has learnt on Friday. The KESC is supposed to make payment of Rs 56 billion worth arrears to WAPDA, Rs 8.60 billion to SSGC and Rs 0.75 billion to PSO, said sources. The WAPDA and SSGC are facing financial crunch due to the piling up of their arrears towards the KESC, said sources. "The new management of the KESC was facing a tough task of making payment to the aforementioned mega companies in the country." They said that the KESC had collapsed financially and operationally due to mismanagement as a result the mega city of the country was embracing the worst-ever loadshedding that had crippled the daily life in Karachi. The situation is worst then ever as the top-level management has resigned from their posts. Interestingly, the company has survived the situation of working without the MD for last two months. Now this deteriorated situation has raised questions over the working credibility of the KESC. Meanwhile, the recurring state of unscheduled loadshedding continues in the City. During last 24 hours, the citizens of Karachi face the deficiency of 600 to 700MWs of power utility. The working of Bin Qasim power plant remained below the mark as the Unit 1 and 4 remained non-operational. A senior official of SSGC explained on Friday clarified that the PSO arrears towards the KESC including overdue amount of Rs 2.70 billion have piled up to Rs 8.60 billion by August 2008. Regarding low pressure of gas supply to KESC, he said the SSGC had already informed the KESC in advance that the Bhit Gas Field would undergo repair and maintenance from August 23 to September 4 as a result of which the gas supply could decline during these days. He said that the KESC should have arranged the furnace oil to cope with the low pressure of gas during the said deadline, but the KESC could not manage it, resultantly Karachiites are facing the worst-ever loadshedding, ranging from 12 to 16 hours a day. The SSGC official said that at present the KESC's power plant at Bin Qasim was receiving 161 MMCF gas daily in spite of the fact the Bhit Gas Field was going through the phase of maintenance. He pointed out that after September 4, 2008, the gas supply to KESC from the said gas field could become normal and according to the requirement of the KESC. Meanwhile, sources in KESC said that company was refraining from producing maximum electricity from furnace oil mainly because of very high furnace oil prices in the international market and poor financial health of the company. As the new management of Al-Abraj had taken over the management control of the KESC and appointed its own chief executive officer, the KESC officials and the consumers are optimistic about improvement in power generation and loadshedding in this financial capital of Pakistan.