AIRLINK 74.00 Decreased By ▼ -0.25 (-0.34%)
BOP 5.14 Increased By ▲ 0.09 (1.78%)
CNERGY 4.55 Increased By ▲ 0.13 (2.94%)
DFML 37.15 Increased By ▲ 1.31 (3.66%)
DGKC 89.90 Increased By ▲ 1.90 (2.16%)
FCCL 22.40 Increased By ▲ 0.20 (0.9%)
FFBL 33.03 Increased By ▲ 0.31 (0.95%)
FFL 9.75 Decreased By ▼ -0.04 (-0.41%)
GGL 10.75 Decreased By ▼ -0.05 (-0.46%)
HBL 115.50 Decreased By ▼ -0.40 (-0.35%)
HUBC 137.10 Increased By ▲ 1.26 (0.93%)
HUMNL 9.95 Increased By ▲ 0.11 (1.12%)
KEL 4.60 Decreased By ▼ -0.01 (-0.22%)
KOSM 4.83 Increased By ▲ 0.17 (3.65%)
MLCF 39.75 Decreased By ▼ -0.13 (-0.33%)
OGDC 138.20 Increased By ▲ 0.30 (0.22%)
PAEL 27.00 Increased By ▲ 0.57 (2.16%)
PIAA 24.24 Decreased By ▼ -2.04 (-7.76%)
PIBTL 6.74 Decreased By ▼ -0.02 (-0.3%)
PPL 123.62 Increased By ▲ 0.72 (0.59%)
PRL 27.40 Increased By ▲ 0.71 (2.66%)
PTC 13.90 Decreased By ▼ -0.10 (-0.71%)
SEARL 61.75 Increased By ▲ 3.05 (5.2%)
SNGP 70.15 Decreased By ▼ -0.25 (-0.36%)
SSGC 10.52 Increased By ▲ 0.16 (1.54%)
TELE 8.57 Increased By ▲ 0.01 (0.12%)
TPLP 11.10 Decreased By ▼ -0.28 (-2.46%)
TRG 64.02 Decreased By ▼ -0.21 (-0.33%)
UNITY 26.76 Increased By ▲ 0.71 (2.73%)
WTL 1.38 No Change ▼ 0.00 (0%)
BR100 7,874 Increased By 36.2 (0.46%)
BR30 25,596 Increased By 136 (0.53%)
KSE100 75,342 Increased By 411.7 (0.55%)
KSE30 24,214 Increased By 68.6 (0.28%)

imageCARACAS:Recession-wracked Venezuela is to ration electricity in 10 of its most populous and industrialized states, including metropolitan Caracas, the socialist government said Wednesday.

It is the latest drastic measure to alleviate a severe electricity crisis which President Nicolas Maduro and his government blame on the El Nino weather phenomenon that causes drought.

Critics say it's the result of years of economic mismanagement.

Luis Motta Dominguez, minister for electric power, made the announcement during a televised broadcast and said further details would be released in the coming days.

Maduro is under growing pressure from the center-right opposition, which vowed to oust him when it took control of the legislature in January after winning elections, blaming him for the crippling economic crisis.

Venezuela's economy has plunged along with the price of the oil on which it relies for foreign revenues. Shortages of medicines and goods such as toilet paper and cooking oil are widespread.

Maduro blames the collapse on an "economic war" by capitalists.

Last week, his government said it was shifting its time zone forward by 30 minutes to save power.

Other measures include giving government workers an extra day off each week for the next two months, and Maduro has urged Venezuelan women to stop using their hairdryers.

"The greatest power consumption is residential," Motta said, speaking at the Guri hydroelectric plant.

The water level in the dam feeding the facility in Venezuela's southeast, which supplies 70 percent of the country's grid, "continues to decline steadily and is approaching the minimum operating height," he added, saying it left authorities no option but to ration.

Maduro said Wednesday that residential energy-saving targets had not been met, necessitating the rationing that "will save the Guri" from collapse.

Water levels in the country's 18 hydroelectric dams have dropped to dangerously low levels, and citizens regularly suffer blackouts and water rationing.

Venezuela has the world's largest proven oil reserves, but the government has resisted using crude to generate electricity, calling it inefficient.

Copyright AFP (Agence France-Presse), 2016

Comments

Comments are closed.