The Cabinet has refused to give Rs 175 billion to the Ministry of Water and Power for complete elimination of power loadshedding this winter in the country due to financial crunch, official sources told Business Recorder. The sources said, the ministry was of the view that if the government extends Rs 146 billion to Pakistan Electric Power Company (Pepco) to contain power loadshedding ie four hours in urban areas and six hours in rural areas.
The ministry requested the Cabinet to approve at least Rs 55 billion to keep the loadshedding at the present level. According to sources, the Cabinet, however, expressed consent to give Rs 35 billion to Pepco which was earlier demanded by the ministry. Though the finance ministry has promised at the highest level that it would arrange funds for import of furnace oil for power sector to minimise loadshedding, yet nothing is being done with regard to gas, they added.
The issue of inter-circular debt is also yet to be resolved. "The ministry of water and power and the ministry of petroleum have doubts about the ability of the finance ministry to deal with the gigantic inter-circular debt of about Rs 300 billion," said an official. The sources said there will be no let-up in the power loadshedding in the country as the finance ministry has expressed its inability to arrange funds.
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