ISLAMABAD: Minister of State for Petroleum Musadik Malik has said that the first-ever shipment of cheap oil from Russia would reach Pakistan next month to facilitate the general public.
He made the remarks during an interview with a private news channel. Following successful dialogues with Russian authorities, the government has finalised a deal in this regard, confirmed the minister.
“The first shipment will reach Pakistan next month [May] through a cargo,” he added. The state minister also assured that the government would pass on the benefit of cheap oil to consumers.
Responding to a question about rationalising power and gas tariffs, he said the government would introduce different tariffs for the poor and elite class.
Malik said the government had already made progress in this regard and hoped to issue separate billing for the underprivileged and elite class.
The poor segment of society will enjoy relief after the announcement of this tariff, he further said.
Last month, the sources told The News that the Petroleum Division was trying to procure Russian crude oil at around $50 per barrel, at least $10 per barrel below the price cap imposed by the G7 countries on the precious commodity being taken from Russia due to its war on Ukraine.
Officials, involved in the virtual talks with Russia, had shared that Moscow was more interested in completing all the prerequisites such as the mode of payment, shipping cost with premium, and insurance cost before signing the agreement with Pakistan.
