KARACHI: The Karachi Electric Supply Company (KESC) on Wednesday disconnected power supply to Pakistan Steel Mills (PSM) over outstanding dues of Rs930 million.
KESC spokesman said the PSM was directed to pay Rs550 million, out of Rs930 million outstanding dues by Wednesday but the company did not made the payment.
The KESC has also cut the supply to residential colony of the PSM which sparked protest at the National Highway.
Meanwhile, PSM spokesman said they would pay Rs100 million to KESC on Thursday. He said cut in power supply will cause billions of loss to Steel Mills.
The PSM had earlier producing its own electricity but the company shut its three turbines out four to overcome the financial loss. Sources said that the production of the PSM had been decreased to 12 per cent which is the lowest in its history.
It is pertinent to mention here that the country around the world shut their mills if their production decreases to below 15 per cent, however, in Pakistan the government has not taken any step to increase the production of the PSM.
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