Musadik mocks PTI for US conspiracy theory, says Russian oil has reached Pakistan
Business
Says draft agreement for LNG import from Azerbaijan awaits cabinet approval
ISLAMABAD (Dunya News) – Ridiculing the PTI for its claim that the previous government was ousted over the plan to import the Russian oil, Minister of State for Petroleum Musadik Malik said the crude had arrived from Russia under the very setup which, according to the former ruling party, was installed through a US conspiracy.
Addressing the PTI directly, he said, “You could not introduce any policy, you could not bring investment [to any sector].”
Malik, at a press conference in Islamabad, rejected the claims that the PTI had moved forward with a plan to import oil from Russia, saying there was not a single document in the ministry to back the notion. The Russian ambassador had already rejected their claim, he reminded the audience.
The state minister questioned why the former government failed to ink a single deal with any foreign country that could benefit Pakistan and its people. A draft agreement was before the federal cabinet under which Pakistan would import one consignment of LNG per month from Azerbaijan, he revealed.
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More importantly, he explained, Pakistan had the right under the proposed agreement to refuse buying any or all of the shipments, but Azerbaijan was obliged to offer the 12 monthly shipments no matter what the circumstances were at that time.
“Have you ever seen such an agreement [to the advantage of Pakistan or any other buyer],” the state minister remarked.
This clause is very significant as it will protect Pakistan from any future market volatility just like the world witnessed after the Ukraine war as the entire Europe rushed to buy LNG from Qatar and other producers.
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It not only resulted in skyrocketing the prices due to a huge demand but also left nothing for the poor or developing countries to meet their energy needs.
Rejecting the notion of Pakistan oscillating between one geopolitical grouping to the other, Malik said, “We are in only one camp and that is Pakistani camp.”
Read more: First ship of discounted Russian oil docks at Karachi port: PM Shehbaz
To prove his point, he said the government had started talks with the US to bring green ammonia and hydrogen to Pakistan. “Does it mean we are now in Azerbaijan’s camp and then suddenly in the US or Russian,” he asked.
He also talked about the plan to upgrade an existing refinery pending with the cabinet and said, without Saudi Arabia, that talks were at an advanced stage for $10 billion investment by one of the Gulf Cooperation Council (GCC) countries. “Does it mean we are in the GCC camp?”
At the same time, the government had offered the European countries to establish LNG plants in Pakistan, he said, as Pakistan currently aims at improving the infrastructure in the country.
Malik said there was a need to lessen the burden on the people hit by inflation. “We are doing it for the masses, not for any camp.”
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About the Russian crude, he said the government had imported 100,000 tonnes of oil and had planned to meet one-third of the country’s needs in future.
