ISLAMABAD: The country may plunge into the worst imaginable energy crisis as virtually all refineries are teetering on the verge of financial default and may close down operations by Jan 15.
All the oil refineries of the country, currently working on a negative gross revenue margin, and with their borrowing limits already exhausted, are likely to shut down within the next two weeks following their expected default to retire the existing L/Cs to import crude oil. The shutdown would mean no oil supplies for thermal power generation plants and the picture turns outright dark.
This harrowing scenario of the looming crisis was given to The News by a senior functionary of the Ministry of Petroleum and Natural Resources, speaking on condition of anonymity.
The functionary said that after generating over Rs 85 billion from banks by marketing TFCs (Terms Finance Certificates), the circular debt has again started to haunt all the players involved in the energy sector.
“Some players in the energy sector, including Oil Marketing Companies (OMCs) and refineries have termed the Pakistan Electric Power Company (Pepco) responsible for the monster of circular debt, which has surfaced again, saying this is the most disorganised company which failed to pay the dues of PSO which have amounted to Rs69.7 billion,” the source said, adding: “The refineries have also informed the government that they will not be able to get fresh loans to continue functioning, as their borrowing limits have already been exhausted.”
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EXCELLENT! More reasons for the US to bomb bomb bomb Pakistan, clean out them al qeda terrorist! Thank God for our "Peace" President! And no telling how many Pak's are planning on uderwear bombing our airliners!
ReplyDeleteoh great more reason to expand the war into Pakistan now and to reinstate the draft. the excuse they will use is "Pakistan is unstable and its economy has collapsed and we don't want the warlords to get the nukes". Its the shadow elites that gave weapons to the warlords and they probably engineered to collapse Pakistan's economy to create a multi civil war in Pakistan. Pakistan has a large and powerful military and it has millions of people in militias and when you add an economical collapse it will lead to a multi civil war in Pakistan and our govt will go in and lead us to a quagmire that will make Vietnam look like a walk in the park. but on the other hand china will not allow us into Pakistan because Pakistan and china are close military allies and plus our military is stretched thin. But they gotta get the nukes from the "taliban" but all the while pakistan are very nationalistic and will kill nato troops because we are in their sovereign nation. its getting very bad guys.
ReplyDeleteThe USA is already in Pakistan attacking with the predator drones killing people. Does the IMF back to loans that relate to the oil business? What about rebels that might attack the Caspian Oil Pipeline? And where is Pakistan in relation to Iran?
ReplyDeleteYes. Our Clandestine Empire aka the Fourth Reich and our Peace Puppet President (PPP) are busy beavers.
ReplyDeleteNow thanks to al-cia-duh we have an excuse to go kills thousands of Yemens too Yippeee!
ReplyDelete@ anon 10:08
ReplyDeleteIran and Pakistan have a dysfunctional military relationship. it was Pakistan that was giving iran military aid during the Iraq-Iran war.On the other hand they almost went to war in 97 over drug trafficking and territory disputes. however recently Pakistan has sold military equipment to Iran. The only reason why they don't have close relations is because the west doesn't want them to. If Pakistan does collapse it will be very interesting how china will respond. but remember its all engineered. the NWO motto "Order through chaos." The Pentagon has plan in case a Pakistani collapse. I hope this never happens but we know what the elites want. Remember Rahm Emanuel want a draft to start a new front in the war of terrorism. I just don't how we can wage a war in Pakistan.
The USA is just a disposable tool used by the elite. Once we cannot be used as a billy club any longer we will be flushed down the toilet.
ReplyDeleteB.O. is pimping the same fear mongering BS that the other elite puppet GWB did. Same agenda. Stir up fear based on false flag BS. Everyday B.O. is hyping now how we need even stricter Airline security. A bad joke. No 'terrorist' will ever be stopped by airline security. Even with degrading body scanners a person can shove C4 up their ass.
ReplyDeleteOf course since we do our own terror via al-cia-duh any perp would be escorted through customs and onto the plane just as this last fellow was.
There are all sorts of devices and potions that can easily be brought on a plane regarding of any security. That is not the point. The point is to initiate the sheeple into a system of degradating control.
Fortunately for the elite that run our country they don't have to get creative. All the same BS fearmongering will do very nicely and all the sheeple will grovel for protection.
2;20 you couldn't have said it better. my mother stated that we need more protection from the terrorists, I hung the phone up..
ReplyDeleteThis blog is light years ahead of others in terms of real knowledge.
ReplyDeleteThis war on terror BS lie is what is putting the most drain on our frail economy. Trillions going into the coffers of the military industrial elite scumbags.
ReplyDeleteEvery person in the US could have a home and three squares a day, but no, we have to be played for fools.
2:51 that is fact, considering you probably read newsmaxx and prisonplanet.com.
ReplyDeleteAmericans watched fake spectacle of "hijackers" destroying two office buildings and applauded further crimes based on this.
ReplyDeleteActually it was their own government that was hijacked.
Now they are watching their own econonic destruction.
The solution is to identify the criminals inside the US government and Wall St and understanding the mindset of people who maintain power this way.
Buying the myth is equivalent to signing a suicide pact.