ISLAMABAD: Minister of State for Petroleum Musadik Malik said that government will place its first order for Russian crude next month and it would take about four weeks for commodity to reach Pakistan.

In January 2023, Russian delegation arrived in Islamabad for talks to finalise deal. During three-day meeting, countries decided to address all technical issues insurance, transportation and payment mechanism to sign an agreement by late March this year.

“After consensus on technical specifications achieved, oil and gas trade transaction will be structured in way it has mutual economic benefit for both countries,” joint statement issued by two sides had then stated. “However it will take some time for oil to reach Pakistan nearly 26 to 27 days,” he stated, revealing that commodity will arrive in country via sea.

Malik clarified that Russia had assured government that it was giving Pakistan discount as much as any other neighbouring country was receiving.

“We divided country into population of rich and poor so if poor woman is using unit of gas she will give one-fourth of bills that woman in F-7 or Gulberg is paying,” he said.

Malik explained that the distinction between rich and poor would be determined by usage of gas which remains same for rich but reduces for poor in winter from November to March.

“In Pakistan, 60 percent of population is poor and for them, we have either reduced gas tariff or kept it same as was in past.”

Published in The Daily National Courier, April, 03 2023

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