A delegation led by Minister for State Petroleum Musadik Malik has left for Russia to discuss an agreement for the import of oil at a cheap price. The agreement for the import of oil at a cheap price will help Pakistan save dollars and tackle raising fuel prices.
The delegation led by Minister of Petroleum Musadik Malik comprised of secretary petroleum Muhammad Mahmood and others will discuss cooperation between Islamabad and Moscow in the petroleum sector.
Furthermore, the construction work on the Pak-Stream Gas Line will also come under discussion. Earlier, the National Assembly was informed that a high-power delegation would soon visit Russia to negotiate any possibility of long-term cooperation to acquire gas and oil.
According to details, Parliamentary Secretary for Petroleum Division Hamid Hameed told the House in response to a question during Question Hour. “At present Russia has not offered to supply gas to Pakistan,” he said.
Secretary for Petroleum Division, however, added the government of Pakistan had written a letter to Russian authorities on the 11th of the last month, conveying interest to procure two to three cargoes of LNG for the month of December 2022 and January next year at a discounted price and deferred payment facility.
Earlier government formally contacted authorities to buy Russian cheap oil and gas as prices of these commodities in the South Asian country have surged to a record level.
The development comes a month after Federal Finance Minister Ishaq Dar said that the government was considering an option to import oil from Russia. “If India can buy oil from Russia, why can’t we? We can also import it,” Dar had said while addressing the Chartered Accountant Association Conference on October 19.
Read More : Federal Government contacts Russia to buy Cheap Oil & Gas
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