Ishaq Dar, the finance minister, had previously stated that Pakistan was thinking about purchasing discounted Russian oil, pointing out that neighbouring India had been doing so and that Islamabad also had a right to investigate the prospect. The government will make the initial order for Russian crude next month, according to Minister of State for Petroleum Musadik Malik, and it will take the product about four weeks to arrive in Pakistan.
Pakistan is Planning to Purchase Russian Oil
The government then declared that it would buy discounted crude oil, gasoline, and diesel from Russia after Malik had travelled to Moscow for discussions on topics like oil and gas supplies.
A Russian delegation have arrived in Islamabad in January 2023 to hold negotiations to seal the agreement. The nations agreed to deal with all technical concerns, including insurance, transportation, and payment methods, during the three-day conference in order to sign an agreement by the end of March this year.
Musadik Malik stated that Pakistan will place an order next month during an appearance on the Jirga episode of the Geo News program on Saturday night. The oil will, however, require some time to reach Pakistan. He revealed that the product will enter the nation by water in “nearly 26 to 27 days.”
Musadik Malik added that Russia had promised the government that Pakistan was getting the same discount as every other neighbouring nation. Speaking about the government’s choice to set different gas prices for the wealthy and the poor, the minister claimed that Nawaz Sharif, the leader of the PML-N, and Prime Minister Shehbaz Sharif were responsible for creating the mechanism.
Musadik Malik stated that the usage of gas, which is the same for the rich but decreases for the poor in winter, from November to March, would distinguish between the rich and the poor. “We either decreased the gas tariff for them or kept it the same as it was in the past,” said the speaker. “In Pakistan, 60% of the population is poor.
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