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| Oil stocks deplete as economic shutdown continues |
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Sunday, December 30, 2007
Electricity generation may halt for Punjab, NWFP and Balochistan
By Dilshad Azeem
ISLAMABAD: The crippling effect of the complete economic shutdown following Benazir Bhutto's tragic assassination is likely to impact oil refining soon if supplies of crude and furnace oil are not restored, further complicating the overall supply situation and the worsening law and order, experts and officials say.
The power crisis may worsen in the next couple of days as furnace oil supply is completely suspended and stocks would only last for a few days to continue electricity generation particularly for Punjab, NWFP and Balochistan.
"If rail and road services are not restored immediately, it is feared that key powerhouses and some oil refineries, including Attock Refinery, may stop electricity generation and oil production due to non-availability of furnace and crude oil respectively," official sources told The News here on Saturday.
The Attock Oil Refinery, having capacity of refining oil up to 13,000 to 15,000 barrels per day, may stop production in a day or two as supply line from Karachi is halted since last Thursday evening, the officials said.
"We maintain stocks of furnace oil for about 10 days to ensure electricity generation from the existing powerhouses and definitely there will be a severe problem because its supply is zero at present," the official sources at Water and Power Development Authority (Wapda) said.
The same officials maintained that furnace oil up to 20,000 to 22,000 tons daily was the
total requirement of the powerhouses.
"There may not be immediate problem at Karachi and Hub but severe crisis as far as rest of the country is concerned."
Apart from loss of life in dozens in December 27 tragic incident and its aftermath, the relevant authorities see financial losses in billions.
"It is an economic shutdown but the government is trying to maintain law and order and will ultimately restore the supply line whether its fuel or daily use items," Caretaker Finance Minister Dr Salman Shah said when contacted.
Apart from already reduced strategic oil stocks, the suspension of fuel supply and a complete halt in transportation of daily use items are not only causing shortage of commodities but also pushing prices beyond the reach of common people.
Shah was worried about the tense situation prevailing throughout the country and the complete economic halt in the routine working. "It is a great financial loss to the country and we are trying our level best to bring the situation back to normal."
The finance minister said private sector had a pivotal role in restoration of the supply lines, particularly of petrol from Karachi to other parts of the country.
"Our emphasis is to provide security to the private sector so that the major traffic is restored."
In response to a question about the estimated financial losses to the country, the finance minister said that the government's priority was to maintain law and order. "The losses in terms of finance are obviously tremendous and unbelievable."
Shah further said that there was no second opinion about the December 27 tragedy but the economic business of the country should not be stopped. "It is the duty of every one to help the government in restoring the law and order and supply lines."
"As the people are already suffering with many articles unavailable, the situation can deteriorate if immediate restoration of supply of fuel and the essential commodities is not done," said one of the traders here at the local market.
The petrol pumps and the CNG stations remained closed and their stocks are going to be eaten up by the transport vehicles standing without fuel in
the last three days since the tragic assassination of Benazir Bhutto.
Though some of the petrol pumps and the CNG stations provided fuel to the vehicles under the umbrella of law enforcement agencies yet the major concern remains smooth supply that may not reach immediately.
In the federal capital, the people had to abandon their vehicles due to non-availability of the fuel as the petrol pumps and CNG stations are not ready to open due to fear of attacks by miscreants.
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ISSN 1563-9479 
