K-Electric faces liquidity issues, appeals Sindh Govt for release of immediate funds

MG News | January 03, 2020 at 03:07 PM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

January 3, 2020: K-Electric Company has appealed Sindh Government to immediately release Rs 50 billion, as it has been facing liquidity issues and financial crunch lately.

However, the Sindh Government has maintained silence over the appeal so far, despite several letters sent out to chief minister, provincial energy and local government ministers by the company.

From what it seems, non-payment of bills has reduced the company’s fuel stock, thus creating severe financial hardships for it. If this continues without any release of funds by the Government, the industrial areas of the city may have to witness increase in load shedding, which will have an adverse impact on the economy as well.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	180,383.32 212.75M	0.58% 1048.08
ALLSHR	107,590.05 776.64M	0.54% 579.88
KSE30	52,645.94 105.74M	0.46% 239.99
KMI30	257,950.25 109.35M	0.53% 1366.42
KMIALLSHR	69,406.39 493.55M	0.46% 315.79
BKTi	49,947.83 34.37M	0.45% 225.82
OGTi	35,388.94 5.39M	0.25% 87.08

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	73,985.00	74,205.00 73,230.00	180.00 0.24%
BRENT CRUDE	91.84	92.69 91.75	0.35 0.38%
RICHARDS BAY COAL MONTHLY	125.75	0.00 0.00	-0.45 -0.36%
ROTTERDAM COAL MONTHLY	134.00	0.00 0.00	0.00 0.00%
USD RBD PALM OLEIN	1,182.50	1,182.50 1,182.50	0.00 0.00%
CRUDE OIL - WTI	86.18	86.81 86.04	0.14 0.16%
SUGAR #11 WORLD	18.15	18.29 17.92	-0.06 -0.33%