Pakistan ready to boost oil imports from Russia subject to affordable price — newspaper

Business & Economy May 31, 2023, 9:29

It is stressed that import of cheap Russian oil is one of the avenues that Pakistan has been pursuing to mitigate its energy crisis

ISLAMABAD, May 31. /TASS/. Pakistan expects to get the first shipment of oil from Russia in a week and is ready to scale up deliveries if the price is affordable, the Dawn newspaper said on Wednesday, citing Minister of State for Petroleum Musadik Malik.

"Importing oil from Russia is not a promise. It’s not just talk. The ships have reached Oman and the supply of cheap Russian oil to Pakistan will begin in a week," the minister said, cited by the news outlet.

"If today we get cheaper sources of energy, we’ll go there," Malik said, answering the question whether Pakistan is ready to scale up imports.

The start of imports from Russia would not have an effect on domestic fuel prices immediately, but "once the supply becomes persistent, the fuel cost will gradually decrease," he noted.

Pakistan faces energy shortages and imports 84% of petroleum products it needs, the newspaper said. "Import of cheap Russian oil is one of the avenues that Pakistan has been pursuing to mitigate its energy crisis," the news outlet noted.

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