The acute shortage of RFO in the country has created a massive shortage of available electricity leading to heavy load shedding in many parts of the country.
In this regard CEO, Hubco Kamran Kamal, in a letter to Power Division has stated that RFO stock at the plant needs to be replenished on a continuous basis to ensure the plant continues to meet the despatch without interruption. However, PSO has only supplied 5,000 tons of fuel in the last three months as a result the fuel stock at the Plant has depleted from around 47,000 tons to around 13,000 tons.
If the fuel is not promptly replenished the plant will run out of fuel in a few days, resulting in complete shutdown which will further increase the electricity shortage in the country. Hubco has sought urgent intervention of Power Division’s top brass for immediate settlement of its overdue receivables.
According to souces currently the Group’s overdue receivables from CPPAG currently stand at over Rs 81 billion.
