KARACHI: State Minister for Petroleum Mussadik Malik told that the coalition administration plans to import one-third of Pakistan’s crude oil from Russia. While, waiting for its shipment of discounted Russian petroleum.
The state minister told that the government has finished a comprehensive energy security agreement with Russia. It covers all areas of the country’s energy supply.
Mallik added, “We want to open an energy corridor with Central Asia like the one we have with Gulf countries.”
“This would lower energy costs and help develop industrial clusters and value-added agriculture,” he said.
Moreover, Malik refused to reveal the business transaction for inexpensive Russian crude oil, citing contractual obligations.
While, He mocked former prime minister Imran Khan. He said the government values actual work over “waving cyphers” to harm national interests.
Moreover, The minister said the government wants to buy 18-20% of its crude oil from Russia. It is to cut domestic petroleum product prices.
He claimed the arrangement with Russia was transparently structured within four to five months and will reduce oil prices domestically to serve the masses.
