Now things like Sri Lanka are going to be created in Pakistan. The clouds of power crisis are hovering over Pakistan. Electricity supply to Pakistan’s homes and mills has been cut off on Monday. Alam is that Pakistan is currently facing a shortage of foreign exchange. At present, Pakistan does not have the necessary money to buy coal or natural gas from abroad. As a result, many of their power plants are not generating electricity.
International gas and coal prices have risen sharply in recent months following Russia’s invasion of Ukraine. This hike has made it difficult for Pakistan to procure fuel. Pakistan’s energy has doubled to 15.15 billion in the last nine months and it has no money to place any more orders.
Pakistan’s new Prime Minister Shahbaz Sharif has appointed Mifta Ismail as the new Finance Minister of the country. Miftah said in a tweet that on April 13, power generating stations with a capacity of about 3,500 MW were shut down due to fuel shortage. He said that almost the same capacity plants have also been closed due to technical problems. This is approximately 7,00 MW of electricity, which is 20% of the total generation capacity of Pakistan.
Shahbaz Sharif has not been able to choose an energy minister since coming to power and the power crisis has become a major problem for him due to Pakistan’s economic crisis. Shahbaz Sharif became the Prime Minister of Pakistan only last week. After a long period of turmoil, Imran Khan was ousted last week by an unreliable resolution passed by an MP.
A company that supplies liquefied natural gas (LNG) to Pakistan last month canceled the delivery of some of its shipments due to non-receipt of funds. “The global equation is not expected to change in the near future,” said Samiullah Tariq, head of research at Pakistan-Kuwait Investment Company. In such a situation, the situation in Pakistan is expected to improve.