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

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	164,626.29 351.26M	-0.98% -1632.25
ALLSHR	98,999.23 613.73M	-0.76% -757.44
KSE30	50,342.54 122.55M	-1.13% -575.33
KMI30	229,014.43 138.56M	-1.61% -3757.33
KMIALLSHR	63,057.91 362.66M	-1.13% -722.77
BKTi	49,028.54 65.39M	-0.01% -2.61
OGTi	32,109.94 7.71M	-1.79% -583.79

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	66,185.00	67,760.00 64,325.00	-1640.00 -2.42%
BRENT CRUDE	71.88	71.96 70.69	0.12 0.17%
RICHARDS BAY COAL MONTHLY	96.00	0.00 0.00	-3.50 -3.52%
ROTTERDAM COAL MONTHLY	107.95	107.95 107.95	0.30 0.28%
USD RBD PALM OLEIN	1,071.50	1,071.50 1,071.50	0.00 0.00%
CRUDE OIL - WTI	66.60	66.67 65.38	0.12 0.18%
SUGAR #11 WORLD	14.05	14.10 13.78	0.18 1.30%