Pakistan Economy Watch (PEW) on Wednesday said the country may slip into a severe power crisis leading to massive load-shedding in the ongoing month of June. The flour and power crisis will hit masses and every sector of the economy badly which should be tackled without delay, it said.
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President of the Pakistan Economy Watch (PEW) Dr. Murtaza Mughal said that two gas fields have been closed in Sindh, dams are not producing enough electricity due to water scarcity and there is a shortage of furnace oil in the country. Sensing the opportunity, owners of an LNG terminal has planned to close their business in the garb of annual maintenance to profit from the situation. Closure of one terminal will discontinue supply to LNG-based power plants which will intensify the crisis to erode the popularity of the government, he said.
Dr. Murtaza Mughal said that the government has closed down the LNG sector but soon it will have to shut the industry and fertilizer sector to save some gas for power generation. The government should import furnace oil on a war footing and direct the terminal operators to leave the maintenance of terminals to winter when the electricity demands are relatively low.
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He noted that maintenance in winter is relatively costly which is why operators have planned to blackmail the government to share the burden which will increase their profit.
