Worst power crisis has hit the distribution system, as power shortfall reduced by 4000 mw immediately against the Pepco's estimates of 2000 mw ahead of canal closure for desilting campaign. Sources said that Pepco had developed six scenarios on load shedding, starting from 500 mw to 4000 mw, during canal closure by the end of current month.
However, the worst has hit the distribution network much earlier and the power consumers had no option but to face long hours load shedding throughout Thursday. Sources said that power supply has reduced to 9000 mw against generation of 13000 mw, and more is likely to take place.
Both domestic and commercial consumers kept on waiting for power supply for major party of the day. Especially, very little production work took place in the industrial sectors leading to massive layoff. Interestingly, the gas supply is also under severe pressure due to constant drop in mercury on SNGPL network. Not only the domestic but the industrial consumers were also hit hard on this front as well.
Pepco sources said high price of furnace oil was proving unbearable and short supply of it was resulting in heavy power cuts. According to them, the crisis would be severe further with the canal closures for a month. Textile industry is highly affected due to the situation, as it has neither gas nor electricity to keep its wheel running. There were some rumours initially that the Petroleum Ministry was mulling over gas curtailment to textile for 90 days.
The Aptma leadership made a hue and cry and pursued the ministry to reduce gas holidays for three and a half days a week. But what the present scenario is suggesting is that majority of the mills would close down operations voluntarily due to gas and electricity shortage. It would have negative impact on the economy and industry workers. They would be left with no option but to face joblessness during the crisis-like situation.
Industry circles said production cuts are taking place when the country is already passing through high inflation rate. According to them, it is becoming difficult for textile mills to pay back high interest against loans and possibility of inflated NPLs is turning into reality fast.
Aptma Chairman has already urged the government to reduce interest rate to single digit and ensure uninterrupted energy supply to textile mills in order to keep production momentum up. It is also worth noting that textile exports have registered alarming decline during five months of current fiscal year and more is likely to come in case no change in prevailing depressing situation takes place soon.