KARACHI: All stakeholders including Chief Minister Sindh and his team must coordinate with K-Electric (KE) to resolve the issue of Rs50 billion outstanding payments yet to be paid by provincial government to the utility, a trade body official said on Thursday.
“Any interruption to industry’s power supply causes huge revenue losses and deals a blow to its export potential, which we cannot afford in current economic conditions,” said Naveed Shakoor, president, Qasim Association of Trade and Industry (BQATI) in a meeting with K-Electric officials.
Shakoor said it was necessary to find a reasonable solution quickly, because any adverse impact on K-Electric’s operations would have a cascading effect on economic activities in Karachi.
K-Electric officials apprised BQATI president that company’s cash flows were in a pinch owing to the non-payment of this amount and a liquidity crunch was forcing them to borrow more banks and if things didn’t improve Karachi could face a huge power crisis.
