Economic Expert Hafeez Pasha expressed hope that the petrol and diesel prices might see a huge cute following the arrival of Russian oil in Pakistan.
According to the details, the former finance minister, Hafeez Ahmed Pasha, during an interview with the Private Media Channel,” revealed that there is a possibility of a temporary reduction in petrol prices in Pakistan as a result of the arrival of Russian crude oil shipments.
Hafeez Pasha expressed his belief that the Pakistan Diesel Limited (PDL) can be brought up to Rs 75 per liter as currently, the PDL is charging Rs 50 per liter.
The former Finance Minister stated that the annual average inflation rate stands at 30 percent, while essential food and beverage items have witnessed a staggering 50 percent increase in prices.
It is pertinent to mention here that earlier this week, the first ship carrying Russian oil has reached at Karachi port.
As per details, the ship brought 45,142 metric tons of crude oil to Pakistan. The ship which arrived before the cyclone was anchored at berth OP2.
Experts said that the launch of shipping services will reshape trade relations between both countries, with immense business opportunities and the potential to extend bilateral trade up to US$20 billion.
Experts further revealed that the second direct ship is expected to arrive at the port by May 29.