KARACHI - Despite a drastic decline in the furnace oil prices, the mega city of Pakistan is facing hours long unscheduled and irritating loadshedding. The furnace oil price has witnessed a sharp decline as currently it stands at Rs19.7 per litre against the previous record benchmark of Rs51.53 per litre in July, The Nation learnt on Friday. The international and domestic furnace oil prices have declined sharply during the past few months. But the benefit of low oil prices is still to reach the general public. The energy sector in the country is the major consumer of furnace oil. In Karachi, the KESC is the chief electricity supplier to the City. The management of the company admitted few days back that the company has almost stopped its furnace oil units and the company was generating 90 per cent of the electricity from natural gas. It is noteworthy that the new management has said that the company was suffering huge financial losses. In order to overcome this situation the company is not eager to enhance its oil bill. So, the generation capacity of the company is shifted towards gas, as it is cheaper. It is worth mentioning that during summer season this year, the City had witnessed prolonged power outages. At that time, company was of the opinion that furnace oil prices are very high, Rs51/liter during that time, so the company cannot operate on it. "We are facing financial crisis that has forced us to halt our production on oil for some time," said an official from the company at some stage in summer. "As soon as the financial crisis is over, the electricity production will be started with furnace oil as well," he added. But ironically, even after such sharp decline in the oil prices, company is still showing reluctance over oil consumption. Company's desire to keep their oil bills low has resulted into power outages in the metropolitan during the current winter season. Previously, it was claimed by the company that the loadshedding situation would improve during winter as electricity consumption drops significantly in the season. The company has shifted its 90pc generation on gas, while keeping very low production on oil. During winter the gas pressure also suffered. Power outages which are prevailing these days have been attributed to this condition of gas supply by KESC. Amazingly, it is the responsibility of the KESC to provide electricity to the City but the officials of the company are neglecting it. Furnace oil price stands at Rs19.7/ litre these days. It is easy to understand that there is huge difference between the prices from their peak hike. If the company would have started generation on oil, the power crisis had been solved in the City. Meanwhile, the City is facing 200 to 300MWs shortfall in electricity. The total demand of electricity supplied to the City is 1600MWs but only 1300MWs have been supplied. Unit 3 and Unit 4 of Bin Qasim power plant have been shutdown due to oil shortage. KANNUP is also non-functional for the last few days.