Energy crisis intensifies in Pakistan, China threatens to withdraw help
Islamabad, June 8: Pakistan's economic situation is deteriorating rapidly. Some of China's influence is directly responsible for the country's dire situation. It is unfortunate that poor governance of the country, mismanagement of various resources and weak law and order situation have led Pakistan to a huge economic crisis. Meanwhile, the country's energy crisis has begun to intensify.
According to the report, more than two dozen Chinese companies, or Independent Power Producers (IPPs), have been threatening to shut down power plants since May 9. According to media reports, the reason given is that Pakistan has to pay first.
According to the report, Pakistan will have to pay more than 300 billion Pakistani rupees to several Chinese companies. These organizations operate in Pakistan. This important issue was raised in one meeting. It was chaired by the country's Minister of Planning and Development Ahsan Iqbal.
According to the report, there are more than 30 Chinese companies in Pakistan under the China-Pakistan Economic Corridor (CPEC). These companies are working on a number of infrastructure projects in the country, including energy, communications, railways and highways.
However, there are numerous complaints from the Chinese side, including complicated visa procedures for the Chinese, heavy taxes etc.
At least 25 representatives of the IPP have complained one after the other about the increase in their deposits. They also warned that they would stop work in a few days if they do not receive any payment in advance.
"The authorities are pressuring us to maximize power generation to meet the maximum demand of the summer but this is impossible for us due to the severe financial situation," they said.