First crude oil consignment from Russia due next month: Musadik
Business
State minister claims people will get relief after arrival of oil from Moscow
ISLAMABAD (Web Desk) - Pakistan is likely to receive its first consignment of crude oil from Russia next month, said Minister of State for Petroleum Dr Musadik Malik while talking to a private news channel.
Mr Musadik said the talks had been held with Russia by incumbent government and the first shipment will reach Pakistan next month through a cargo. He claimed that after receiving the shipment, the government would be in a position to lower the prices of oil.
“People will get relief from the [petrol] price hike after the arrival of oil from Moscow,” Musadik Malik added. In reply to a question about rationalizing power and gas tariff, the minister said that the government will introduce different tariffs for the poor and elite class.
The government had finalised a strategy in this regard and would issue separate billing for poor and rich classes, he said. Russia had conceptually agreed in January to supply crude oil and oil products to cash-strapped Pakistan at cheaper rates and signed several memoranda of understanding (MoUs) with Pakistan’s energy ministry.
Following the signing of the deals, Pakistan said it wanted to import about 30 to 35 percent of its total crude oil requirement from Russia.
