Russia to provide petrol, diesel at discounted rates to Pakistan: Musadik Malik
Minister of State for Petroleum Division Musadik Malik on Monday confirmed that Russia had agreed to provide crude oil as well as petrol and diesel to Pakistan at discounted rates.
The development came a month after Finance Minister Ishaq Dar announced to but crude oil from Russia at discounted rates.
After the Finmin’s announcement, Minister of State Musadik Malik visited Russia last week to discuss other issues including oil and gas supply.
As winter approaches, Pakistan is struggling to meet its gas supply needs to its domestic consumers, while the country is also struggling to overcome current account deficit due to energy sector import payments.
Addressing a press conference in Islamabad regarding his visit to Russia, Musadik Malik informed that the Russia’s visit was more successful than expected. He added that the country has to increase energy supply by 8-10 percent every year.
He said the PM Shehbaz has directed to increase energy supply to develop employment opportunites for the youth.
“Russia has decided that it will give us crude oil, petrol and diesel at discounted price or more than the discount given to the world,” he added.
He informed that during talks on the gas pipeline projects, Moscow asked Pakistan to first honour its commitment to the flagship project of the Pakistan Stream Gas Pipeline (PSGP) to be laid down from Karachi to Lahore, Punjab.
Malik said that an intergovernmental delegation of Russia will visit Pakistan in January next year.
In a response to a question, he said the government would ensure uninterrupted gas supply to households during cooking hours. “More gas is being supplied to the domestic sector in December 2022 compared to the last year,” the minister said.
Last week, sourced reported that Pakistan’s delegation asked for a 30-40% discount on Russian crude oil during talks in Moscow, but the Russians said they could not offer anything right now as all volumes were committed.