Govt begins consultation to buy Russian oil

ISLAMABAD: Following the footsteps of former prime minister and Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan, the coalition government has begun consultation to buy cheaper oil from Russia, ARY News reported while quoting sources.

According to sources, the incumbent government has begun consultation to buy cheaper oil from Russia. In this regard, the Petroleum Division has penned down letters to the head of four major oil refineries – Pak-Arab, National Refinery, Pakistan Refinery Limited (PRL) and Byco Petroleum.

Sources have told ARY News that Prime Minister Shehbaz Sharif-led government has held background meetings to buy cheaper oil from Russia.

In the letter, the petroleum division has asked about the rate of acquisition of petroleum products from Russian crude oil. The ministry has also asked the oil refineries how much and of which grade oil can be bought from Russia.

The petroleum division has also sought the details of the cost of importing Russian crude oil compared to the Middle East. “What will be the method of payment for crude oil purchased from Russia”, the division asked the oil refineries.

Sources further claimed that officials of the Petroleum Division have held separate informal meetings with heads of oil refineries. The coalition government will hold a meeting with four major refineries today (Wednesday).

It is pertinent to mention here that former prime minister Imran Khan repeatedly said that the PTI government was planning to buy 30 percent cheaper oil and wheat from Russia.

The Imran Khan-led government was overthrown after the visit to Russia through an alleged conspiracy.