KARACHI, Nov 26: Federal Minister for Petroleum and Natural Resources Dr Asim Hussain on Saturday brokered a deal between the Karachi Electric Supply Company (KESC) and the city-based business community to prevent them from adopting a collision course.

Perturbed over the 12-hour daily loadshedding schedule in industrial zones causing heavy losses to industrialists, the Karachi Chamber of Commerce and Industry (KCCI) had on Friday asked its members not to pay power bills anymore. Reacting to the move hours later, the KESC warned of cutting off connection of any industry failing to pay its bill by the due date and the KCCI threatened to shut down the industry and lay off thousands of workers.

The federal minister rushed to the city to prevent a showdown and held negotiations with the KESC, KCCI and other stakeholders — Sui Southern Gas Company (SSGC), Pakistan State Oil (PSO) and Karachi Water and Sewerage Board (KWSB) — at the KCCI office and the Governor’s House on Saturday.

After the final round of talks at the Governor’s House, the minister announced that a decision had been taken to end the industrial loadshedding forthwith. However, he added, loadshedding in residential areas would be curtailed to a maximum of four hours a day.

He told the media that loadshedding in industrial areas during December would be carried out only on Sundays. “This has been decided because of a paucity of gas in the country,” he added.

He said that the KESC would be provided with 180MMCFD gas while it would try to resolve its circular debt issue. The closure of CNG stations for two days was also on the cards and a schedule was being worked out, he added.

Dr Asim said that a committee comprising all stakeholders had been formed to settle electricity matters in the future.

Sindh Governor Dr Ishratul Ibad, besides representatives of the stakeholders, was also present.

Earlier, in his meeting with KCCI leaders, the federal minister told the business community that if they were not happy with the power utility’s performance then the government was prepared to “get rid of the KESC management”.

He, however, assured the protesting business community in the city that electricity loadshedding would come to an end by Monday as the government had arranged supply of additional furnace oil to the KESC. He also proposed to look into the option of handing over the KESC management to industrialists.

Dr Asim held out the assurance that the KESC would get the required quota of furnace oil through PSO under the gas load management plan (GLMP) enabling it to end loadshedding.