The coalition administration has reportedly started talks to purchase less expensive oil from Russia, following in the footsteps of former prime minister and Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan.
The current administration has reportedly started talking to suppliers about purchasing cheaper oil from Russia. In this context, the Pak-Arab, National Refinery, Pakistan Refinery Limited (PRL), and Byco Petroleum heads of four major oil refineries have received letters from the Petroleum Division.
According to sources cited by ARY News, the administration of Prime Minister Shehbaz Sharif has undertaken secret talks to negotiate lower oil prices with Russia.
The petroleum division has inquired in the letter as to the tariff on the purchase of petroleum products from Russian crude oil. The government has also inquired with the oil refineries about the quantity and quality of oil that may be purchased from Russia.
The petroleum division has also inquired about the costs associated with importing Russian crude oil in comparison to Middle Eastern crude oil. The division questioned the oil refineries, “What would be the mechanism of payment for crude oil obtained from Russia?”
According to further sources, representatives of the Petroleum Division met separately and informally with the directors of oil refineries. Four significant refineries will meet with the coalition administration today (Wednesday).
It is important to note that Imran Khan, the previous prime minister, frequently claimed that the PTI administration intended to purchase wheat and oil from Russia at prices that were 30 percent lower. After the trip to Russia, the government led by Imran Khan was deposed by an alleged plot.