The government has also decided to cut gas supplies to fertiliser plants, minimise gas flow to power plants from 250 to 80 mmcfd and, if needed, cut supplies to CNG stations.
Government officials said that despite the curtailment of gas to the fertiliser plants, there would not be any shortage of the commodity due to the availability of over 800,000 metric tons of stocks. To meet power needs during evening, the government may run some of the closed plants on alternative fuels. There would also be gas rationing for households considering the recent developments, the officials said.
Pakistan's crude oil supplies would be affected in the wake of tensions in the Strait of Hormuz and the Red Sea. The officials said that PM Sharif was expected to ask the Saudi ambassador to provide oil cargoes through the Red Sea as the Strait of Hormuz was closed.
Iran has broadened the scope of the war after it was attacked by the United States and Israel. Iran is now hitting energy facilities of those Gulf countries that have provided military bases to the US.
Crude oil prices jumped above $83 per barrel on Tuesday, which would carry huge implications for consumers as well as the current account deficit. Owing to limited supplies, LNG prices are also on the rise, making it difficult for the government to book cargoes from alternative routes.
