ISLAMABAD: Pakistan’s State Minister for Petroleum Musadik Malik, has said Pakistan that will receive the first cargo of Russian crude oil in April this year.
In a television talk show, Musadik Malik said the government had fulfilled ’80 percent to 85 percent of negotiations with Russia.
The minister said the commercial deal was in the final stages, and the entire agreement would be negotiated by March.
Pakistan to receive one-third of crude oil imports from Russia
“In April, Pakistan will give them the first shipping order. The first cargo of Russian crude oil will arrive by the end of April.”
Musadik Malik said Pakistan would receive one-third of its crude oil imports from Russia at a reduced price, “the impact of which will be translated to the people.”
About the latest price hike, the state minister said Pakistan pays dollars for oil, and currently, the country is short of it. “Oil prices depend on ongoing international prices and the currency parity,” Musadik Malik added.
The minister said Pakistan imports $2 billion to $2.5 billion of energy commodities monthly. “If we give subsidy on energy commodities, the entire liquidity of Pakistan will be drained off,” he maintained.
