Russian oil would not lead to a decrease in fuel prices: Musadik Malik
- By Web Desk -
- May 30, 2023
ISLAMABAD: Minister of State for Petroleum, Musadik Malik, stated that the importing Russian oil would not lead to a decrease in fuel prices across the country, ARY News reported on Tuesday.
In a recent statement, Petroleum Minister Musadik Malik, addressed the anticipated arrival of Russian oil in Pakistan and its potential impact on fuel prices. Contrary to popular expectations, Minister Malik stated that the introduction of Russian oil would not lead to a decrease in fuel prices in Pakistan.
However, Minister Malik did highlight that if there is a significant increase in the cargo of Russian oil, it could potentially result in a decrease in prices’
READ: Pakistan says first shipment of Russian oil expected by month end
The minister further informed that the arrival of Russian oil is expected within the next two weeks, emphasizing that the government is committed to source affordable oil around the world.
Minister Malik shared that the efforts are being made to explore oil and gas reserves in the sea, as exploration activities have now resumed. He added that the government is considering the reopening of closed gas wells.
Minister Malik acknowledged the importance of reopening these wells to alleviate any potential shortages and ensure an uninterrupted gas supply across the country.