The electricity crisis is expected to get worse in the coming three peak summer months as oil stocks are plunging to historic low with reserves covering less than two days and the Pakistan State Oil (PSO) is canceling shipments of fuel for May.
Anticipating the worst power crisis, the government came up on Wednesday with an offer to a group of 10 independent power producers (IPPs) to put on hold their financial claims for two months and run their plants to full capacity against direct fuel supplies to them on credit.
“Practically, it is a two-way short-term moratorium on cash payments. The IPPs will not pay anything to fuel suppliers and run their plants to full capacity without getting payments for electricity they sell to the power system. The government will be responsible to meet their fuel requirements,” a senior official told Dawn after talks between IPPs and a government team, led by Minister for Water and Power Dr Musadik Malik.
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