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Πέμπτη, 7 Νοεμβρίου, 2024

Pakistan Reels Under Severe Electricity Crisis As Shortfall Reaches 6,500 Megawatts

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Pakistan has been experiencing a severe electricity shortage, with a power shortfall of 6,500 megawatts (MW) and protracted periods of load shedding of up to 12 hours. According to a report by Ary News, the country’s power supply remained at 19,500 megawatts, despite demand of 26,000 megawatts. The report further stated that rural areas in the country are also experiencing power outages for up to 12 hours. Furthermore, the Lahore Electric Supply Company’s (LESCO) electricity shortfall has reached 8,00 megawatts, with demand reaching 4,800 megawatts, and the supply is just 4,000 megawatts.

According to reports, several power plants in Pakistan have closed due to a lack of fuel and other technical issues, resulting in an electrical shortage and power outages. A few power plants also got capacity payments after they were shut down. Meanwhile, in response to the International Monetary Fund’s (IMF’s) demands for the disbursement of a USD 1 billion loan tranche, Pakistan’s government, led by Prime Minister Shehbaz Sharif, has agreed to raise electricity tariffs by Rs 7 and privatise profitable state-owned Power Distribution Companies (DISCOS).

Pak PM Sharif accuses former govt of not addressing power issue
This comes after the IMF voiced concerns over the electricity tariff of Rs 2,600 billion. The world financial body had recommended that the Pakistani government promptly privatise the profitable public-owned DISCOs. Meanwhile, Prime Minister Sharif allowed power distribution corporations to increase their charges to consumers, burdening the country’s citizens even further. Last month, PM Sharif also accused the former government led by Imran Khan of failing to address the problem of power generation during its tenure. “The PTI government neither purchased fuel on time nor repaired power plants, hence resulting in the current load-shedding,” he added.

Pakistan announces huge hike in fuel prices
It is significant to mention here that Pakistan also announced a substantial surge in the price of petroleum products on May 26. Addressing a press conference, the country’s Finance Minister Miftah Ismail stated that the government has decided to raise the price of fuel, diesel, kerosene oil and light diesel by Rs 30. The revised rate for Petrol now stands at Rs 179.86 and that of Diesel is Rs 174.15, Kerosene oil at Rs 155.56 and Light diesel is costing Rs 155.56 per litre.

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