ISLAMABAD: Minister of State for Petroleum Musadik Malik has said that the deal struck between Pakistan and Russia for crude oil import would help the government to pass on financial relief to the masses who had been affected by the super inflation stemming from the “flawed economic policies of the previous government.”
Addressing a press conference in Islamabad on Tuesday, the minister called the arrival of the crude oil from Russia historic for the country. He, however, avoided providing details of the terms and conditions of the deal with Russia due to agreements signed by both sides as being confidential.
He said that the Pakistan Tehreeke-e-Insaf government failed to strike any oil deal with Russia which was also confirmed by the officials from the Russian government.
The minister said that Pakistan has imported 100,000 tons of oil from Russia initially with plans to gradually enhance the quantity over time as the country would meet its quarterly oil requirements through the usage of Russian oil.
Minister Criticizes PTI Gov over Russian Oil Deal
He criticized the PTI government’s propaganda about the import oil from Russia that led to its alleged removal adding that if it was true, then how the current government managed to import oil from Russia successfully?
The minister said that the government wanted cordial and friendly relations with all countries including Russia, Europe, America, Tajikistan, Azerbaijan and China as Pakistan was not part of any group.
He said that the government intended to sign a $10 billion contract in the near future for setting up a new oil refinery in Pakistan.
Malik also shared that Pakistan had also received a contract from Azerbaijan under which the central asian country would provide Pakistan a LNG cargo monthly at a lower price compared to the international market.
He added that according to the contract, it would be Pakistan’s prerogative to accept the cargo or not, however, Azerbaijan would be obligated to provide distressed cargo monthly.
He said that the government has also asked European countries to establish LNG plants in Pakistan which would help Pakistan to become a transit route for gas transportation from central asia to European countries.
The minister also said that a joint implementation plan with Turkmenistan was on the cards as a delegation of officials from the central asian country arrived here last week. He said that during its four years tenure, the PTI government failed to sign any such deal or contract.
