Ministry not to renew power contract with K-Electric: sources

According to Ministry for Water and Power sources, K-Electric is taking more electricity than its approved quota. The K-Electric’s contract with the ministry expires on 26th January.

It is also being said that the federal ministry will not renew the contract with the utility supplying power to the port city of Karachi.

The circular debt of the energy sector has increased to Rs. 300 billion, the ministry said. The energy shortfall has also hit 5,000 megawatts.

Pakistan State Oil (PSO) has ten days of crude oil deposits left and is urgently in need of Rs.500 billion, sources mentioned.

The cities are expected to face eight to ten hours of announced load shedding in summers.