Business News Desk, The condition of Pakistan is in a very critical condition. Things ranging from fuel prices to food and drink are at a high level of inflation. During the last month of April, the inflation rate here was more than 36 percent. People have to pay Rs 272 for filling one liter of petrol. Earlier, the price of petrol has also touched a high of Rs 282 per litre.
Pakistan is ready to import crude oil from Russia. In such a situation, Development and Special Initiatives Minister Ahsan Iqbal said in an interview with Voice of America that the impact of high fuel prices can be seen due to the import of oil from Russia. Will the price be reduced by Rs 100 per litre? On this question, the minister said that there may not be any significant change in the prices, but some changes can be seen.
‘Fuel prices will come down due to increase in oil imports’
The minister said that importing large quantities of crude oil from Russia would definitely result in a change in oil prices. Iqbal said that in the beginning the import of crude oil will be less, but as the quantity will increase. It will help in reducing the prices of petrol and diesel. It is worth mentioning that before reaching a deal in April, Pakistan was in talks for several months regarding oil imports from Russia.
how much oil pakistan wants to import
Pakistan’s Minister of State for Petroleum Musadik Malik had said last month that the first shipment of Russian oil could arrive at the Karachi port at the end of May. He believes that if everything goes well, the country can import 100,000 barrels per day (bpd) of Russian crude oil. These oils will be refined by Pakistan Refinery Limited (PRL), Pak-Arab Refinery Limited (PARCO) and others. Pakistan’s plan is to import one-third of its crude oil requirement.
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