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Pakistan Places First Order For Low-Price Russian Crude

Where a parallel increase in fuel price and back-breaking have made considerable dent to the daily life of a common man, the incumbent government has also observed a major slump in its political capital in the country. In a bid to reverse the situation, the government has been trying its best to okay a deal with a Russia to buy discounted petrol for past few months.

And after months-long strive, Pakistan has placed its first order to buy low-cost crude from Russia. State Minister for Petroleum Musadik Malik confirmed the recent development, stating that one cargo will dock at Karachi port next month.

Malik informed, “The deal will see Pakistan buy crude oil only, not refined oil, and imports are expected to reach 100,000 barrels per day if the first transaction goes through smoothly”. “Our orders are in, we have placed that already”, he added.

Russians during the talks have raised the issue over the reporting of the talks in the media particularly about the discount in crude oil price and mode of payment stressing the Pakistani counterparts to ensure keeping the deal with Moscow secret as they do not want the disclosure to other Russian crude buyer countries,” Sources revealed.

Moreover, Pakistan top officials also decided to not disclose the details regarding exact discount and payment mode. It is pertinent to mention that a Russian delegation reached Pakistan to hold talks on payment mode.

Earlier this month, Musadik Malik stated that first oil shipment of Russian will reach Pakistan by May 2023. “The first shipment will reach Pakistan next month [May] through a cargo”, he confirmed. The minister told that once the shipment reached, the government will must trickle down the benefit to the inflation-stricken masses.

What do you think about recent development and subsidized petrol in the country? Tell us in the comments section.

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