Karachi: Pakistan may witness severe gas and power crises in the upcoming winter season which is feared to result in a complete closure of fertilizer manufacturers, CNG stations and other industries.
According to Alfalah Securities Limited, on the other hand, the finance ministry has promised to inject funds for the import furnace oil in order to provide relief to the citizens against severe power outages; however, nothing is being done to avert the prevailing gas shortage in the country which would worsen in winter. The ever rising circular debt has also become a major concern for the government as it has reached to a level of PKR 300bn and it has been feared that the entire country would protest on the streets due to gas and power shortage. The supply of natural gas in FY12 is estimated to be 4,172 mmcfd against a demand of 5,777 mmcfd, depicting a huge shortfall of 1,605mmcfd. Attock Refinery has also warned the government to abandon the supply of petroleum products to PSO, as the Oil and marketing company has failed to clear its dues of worth PKR 17 bn to ARL.
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