ISLAMABAD: Finance Minister Ishaq Dar has said that Pakistan was actively pursuing the option to purchase cheaper oil from Russia.
Speaking to the media, he said that if India could benefit from buying Russian oil, Pakistan could do so as well.
“We will not ink a deal on terms that are worse than India’s,” he said. “I have told this to relevant quarters in Washington and so far, there has been no resistance against it.”
He also said that the rupee was undervalued and it would soon recover to the Rs200 per dollar mark, which is “its real value”.
Dar asked the business community to give confidence to the market. “I assure you that we have ample foreign exchange reserves and they will not pose a problem for the country,” he said.
Speaking about inflation, he said that it has been a gradual process that emerged over the past four years “due to the incompetence of the previous government”.
“It will take time to recede,” the finance minister said. “When macroeconomic indicators stabilize, inflation will fall.”
