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Pakistan Economic Crisis: The economic condition of the neighboring country Pakistan has deteriorated and due to its effect the economy there has collapsed. Pakistani citizens are troubled by the increased inflation, the crisis of buying daily items is creating great difficulties in front of the people. In such a situation, the supply of essential fuels like food and drink to petrol-diesel, gas is also decreasing. Now an attempt of Pakistan is coming forward to improve this situation, which is related to Russia.
Pakistan making concerted efforts to buy crude oil from Russia
Pakistan, which is facing huge financial crisis, is making concerted efforts to buy crude oil from Russia at the rate of $ 50 per barrel. This price is $ 10 per barrel less than the price limit set by the G-7 countries due to the Ukraine-Russia war. This information was given in some news yesterday i.e. last Sunday. Crude oil is currently being sold worldwide at the rate of $ 82.78 per barrel. Pakistan, which is facing the crisis of heavy debt and weak currency, is eager to buy crude oil from Russia at concessional rates.
The first consignment can be sent to Pakistan by the end of next month
According to the newspaper ‘The News’, Moscow will respond to Pakistan’s request to buy crude oil at subsidized rates only after the neighboring country completes the formalities related to transport rates including means of payment, premium and insurance. The first consignment of crude oil from Moscow can reach Pakistan by the end of next month. After this, there can be a bigger deal in the future. It was said in the report that it would take 30 days for the crude oil to reach from the ports of Russia. In such a situation, due to transportation cost, the price of crude oil will increase by $ 10-15 per barrel. According to the newspaper The Express Tribune, Russia was earlier concerned about Pakistan’s position regarding the oil deal but after a recent meeting of officials of the two countries, Moscow has agreed to initially send a ship of oil to Islamabad. .
What else is mentioned in the report
According to the report, since there is a US dollar crisis in Pakistan, it will pay Russia in the currencies of friendly countries – China, Saudi Arabia and the United Arab Emirates (UAE). In December last year, Russia had rejected Pakistan’s request to give crude oil at 30 per cent concession.
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