Lights dim as costly oil squeezes Pakistan

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Monday Nov 20 2000 | Updated 0020 hrs IST 1350 EST

Lights dim as costly oil squeezes Pakistan

KARACHI HIGH world oil prices are inflicting fresh pain on Pakistanis who know they can expect little help from their government.

Karachi, Pakistan’s largest city, main port and industrial hub, suffers daily power cuts simply because its loss-making power utility cannot afford the 4,000 tonnes of fuel oil a day it needs to make electricity.

The state-owned Karachi Electric Supply Corporation, the city’s sole power supplier, has imposed two-hour power cuts — hitting industry in the evening, as well as commercial and residential customers during the day.

"How would we be able to attract investment and confidence of investors?" said Abdullah Rafi, chairman of Karachi’s main industrial body, SITE Association of Industry. "KESC is testing the consumers’ patience beyond belief," the Dawn said in an editorial. But, as long as world oil prices remain high there is little hope of relief. — Reuters

http://www.economictimes.com/today/20comm07.htm

-- Martin Thompson (mthom1927@aol.com), November 19, 2000


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