The country may witness severe power loadshedding and scarcity of petroleum products during the holy month of Ramazan as the receivables of Pakistan State Oil (PSO) from power sector entities has reached an alarming high level.
Official sources in petroleum division disclosed that the receivables of PSO from the power sector entities have reached at alarming high level of Rs167,300 million and they are posing serious threat to the supply chain of petroleum products including RLNG (Re-gasified Liquefied Natural Gas) and furnace oil (FO). The said threat will have direct implications for the power sector, said sources.
“Moreover, a surge in the demand of petroleum products is expected in the retail as well as power sector from April to June 2022, which will be difficult to fulfill unless funds are paid to PSO to reduce the receivables,” said the sources.
Sharing details of PSO’s receivables, sources said that the receivables along with Late Payment Surcharge (LPS) of power generation companies (GENCO) have reached at Rs140,431 million while HUBCO at Rs21,702 million and KAPCO at Rs5, 167 million.
“ In view of the above, power division has been requested to ensure payment of at least Rs25 billion out of the above outstanding to PSO on most immediate basis by 15th April 2022 positively so that PSO could avoid default and continue smooth supply of energy products in the country,” said sources.
According to sources, high system load demand is persisting during the prevailing hot...
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