Pakistan Power Crisis: Pakistan faces energy crisis, massive power cuts in household and industrial sectors to save costs

Pakistan Power Crisis: Treasury situation is such that Pakistan is not able to import natural gas or coal from abroad.

In the midst of political turmoil, Pakistan is in a financial crisis like poison on its knees. India’s neighbors are on the verge of bankruptcy like Sri Lanka. Treasury situation is such that Pakistan is not able to import natural gas or coal from abroad. As a result, there has been a huge shortage in power generation. In this situation, the government of Pakistan is being forced to cut electricity in household and industrial areas.

Pakistan Power Crisis

Fuel-gas and coal prices in the international market have risen to record levels in the past month due to the Ukraine-Russia war. As a result, this South Asian country is not able to buy gas and fuel from the market. Pakistan has spent ১৫ 1.5 billion on energy production in the last one year. Almost twice as much as the previous year. Due to the financial crisis, the situation of mother Bhabani is in the country.

Pakistan has decided to cut off power supply to homes and industrial areas due to the recent energy crisis in the country.

According to media reports, the war in Ukraine has led to a record rise in fuel prices worldwide. As a result, Pakistan is struggling to buy fuel with foreign currency if the country needs it. In the last nine months, Pakistan’s energy costs have risen to about ০০ 1.5 billion. Which is exactly double his previous year.

Newly-appointed Finance Minister Miftah Jamil’s Twitter post said that Pakistan was forced to shut down the 3,500-megawatt thermal power plant on April 13 due to lack of fuel alone. About the same amount of power plants have been shut down due to technical problems. Jamil said the 7,000-megawatt power plants would provide one-fifth of the country’s total electricity needs. The same tune was heard on the face of Tahir Abbas, an expert from Karachi.

The biggest challenge now facing Pakistan’s newly elected Prime Minister Shehbad Sharif is tackling the country’s financial crisis. The power crisis is one of them. Pakistan, the world’s poorest country, does not have its own source of energy. So Pakistan is dependent on the world market. Imports cost a lot of money. In the wake of the Russia-Ukraine war, fuel prices have skyrocketed.

Meanwhile, suppliers of liquefied natural gas to Pakistan have canceled many exports in the last few months. Pakistan on Sunday issued a tender to import six LNG cargoes from the spot market. It will cost millions of dollars.

Experts claim that the power crisis is adding a different dimension to the economic challenges facing Pakistan’s newly elected Prime Minister Shahbaz Sharif. Being relatively poorer than the rest of the world and having no such source of energy, it is totally dependent on imports. That is why the price of the war in this way has increased in the country.

At the same time, Pakistan, one of the countries that imports liquefied natural gas, has not exported even with a number of promises. As a result, the country is in turmoil. The spot market on Sunday issued a tender for the purchase of six LNG cargoes. Once the process is complete, the country’s government may have to spend millions of dollars. The question is whether Islamabad can handle it.

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