Karachi is once again suffering from prolonged spans of unannounced power outages amid hot weather as the main power provider of the city has failed to meet the city's electricity consumption needs.
K-Electric has again begun to carry out unannounced loadshedding in the port city. Different areas of the metropolis, including Federal B. Area, are facing six hours of unannounced loadshedding.
Several areas — including those exempt from loadshedding — such as North Karachi, Liaquatabad, North Nazimabad, Nazimabad, Gulshan-e-Iqbal, Korangi and Clifton are facing interruptions in power supply.
When contacted, the power utility reiterated its oft-repeated position, saying it has not enhanced the span of power outages in the city nor was any change made in the loadshedding schedule.
Earlier this week, the KE announced that the first unit of K-Electric’s Bin Qasim Power Station 3 (BQPS-III) is currently offline following a fault identified during a test. It said, however, that no additional loadshedding will be carried out.
Per a statement by the K-Electric, "Currently, the power supply to the city is as per the routine schedule announced on June 30th 2022 and available on KE website."
The Prime Minister Shehbaz Sharif-led incumbent government had earlier pledged to surmount the issue of power shortfall. Last month, PM Shehbaz said the federal government was making all-out efforts to revive the stalled power plants to put an end to the huge energy crisis faced by the country.
The rupee, which has been on an upward trend for more than a week now, continued strengthening against the dollar in the interbank market on Friday. By 10:05am, the local currency had gained Rs2.15 against the dollar to reach Rs224, up 0.95 per cent from yesterday’s close of Rs226.15. The rupee had been on a consistent decline from July 15 and fallen to a record low of 239.94 on July 28. But since July 29, it has reversed gears and its value had risen by Rs14.15 till yesterday (Aug 4). The biggest hike was seen on Wednesday (Aug 3), when the rupee appreciated by a record single-day gain of Rs9.59 or 4.19pc. This major gain by the rupee has brought exchange rate stability as currency dealers feel that the fluctuations would not be as volatile as were witnessed in July when the greenback gained over 13pc in a single month against the local currency. More to follow. Source link
https://www.news.qm.com.pk/pkr-gains-rs2-15-against-dollar-in-interbank-market-business/?feed...
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