IMF Drives Pakistan to Coal in Bid to End Subsidies

ICI Pakistan Ltd.’s polyester business is losing money because it doesn’t get enough power. The company’s solution is to end its dependence on gas, whose supplies are dwindling, and switch to coal.

“If today we had gas seven days a week or had converted to coal already then we wouldn’t be losing money,” said Chief Executive Officer Asif Jooma. The unit didn’t receive gas for 131 days last year.