Pakistani minister claims first consignment of cheap oil from Russia will reach next month
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Islamabad : Pakistan, which is facing cash crunch and historic inflation, plans to place its first crude oil order to Russia next month. Pakistan’s Minister of State for Petroleum Musadik Malik told that after this the oil will take about four weeks to reach Pakistan. At present, Pakistan, which is struggling with the highest foreign debt and weak local currency, is excited to buy crude oil from Russia at cheaper rates.
Pakistan is considering for a year
According to the report of Dawn News, the leading English newspaper in Pakistan, Finance Minister Ishaq Dar said last year that the government is considering buying crude oil from Russia at cheaper rates. He had said that neighboring India is also buying oil from Russia. Pakistan also has the right to take its own decisions. After this, Malik visited Russia to hold talks on issues including oil and gas. After this, the government had announced to buy crude oil, petrol and diesel from Russia at cheaper rates.
finalized the deal
During an interview given to a private news channel, Minister of State for Petroleum Mussadiq Malik claimed on Monday that the deal with Moscow has been finalized to buy cheap oil from Russia. He said that the first consignment will reach Pakistan next month through a cargo.
Consumers will get benefit of cheap oil
The Pakistani minister has also assured that the government will give the benefit of cheap oil to the consumers. According to media reports, in response to a question about rationalization of electricity and gas rates, he said that the government will introduce separate charges for the poor and the elite class. It has been said in the report that this deal to buy cheap oil from Russia has been going on for months. After buying cheap oil through this deal, Pakistan’s fiscal problem can be reduced to some extent. This is because Pakistan is a net importer of energy and is looking for ways to cut its oil import bill. According to media reports, Pakistani minister Malik said that the government has already made progress in this regard.
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