If Russian oil can come to Pakistan, why not Iranian gas, says Karachi Industrial Alliance

Shiite News: Chairman of National Business Group Pakistan, President of Pakistan Businessmen and Intellectuals Forum and All Karachi Industrial Alliance and former Provincial Minister Mian Zahid Hussain has said that the arrival of cheap Russian oil to Pakistan is a promising mover, immediate inspection of trial cargo and after refining, try to continue this series so that the people who are worried about inflation can be given some relief.

If oil can be imported from the anti-western, war-torn Russia, so why not import gas from Iran, the other opponent of the Western bloc.

Mian Zahid Hussain talking to the business community said that according to the government’s claim, Russian oil is 15 to 18 percent cheaper, which will not only save costs but also pay for it later.

It can also be in Chinese currency which will not burden the foreign exchange reserves but will help stabilize them.

Mian Zahid Hussain said that if Pakistan imports 50% of its oil from Russia, it is possible to save one and a half to two billion dollars annually.

He said that this initiative can become fundamental for Pakistan’s energy security, which will further improve the relations between the two countries, which will soon take the form of mutual friendship and brotherhood.

It will also help to control and Pakistan’s relations with the Western Block and the Eastern Block in a balanced manner.

Mian Zahid Hussain further said that India is importing forty percent of its oil requirements from Russia while we have wasted a lot of time in this regard.

Indian refineries are modern and ‘deep conversion’ refineries which convert crude oil to diesel and petrol If the refineries in Pakistan are upgraded, more value-added products can be produced, which will benefit the Pakistani economy.

In May last year, the price of a liter of petrol was Rs. 150 and a liter of diesel was available at Rs 144. Although the current government has reduced the price of petrol and diesel in a month, the price of diesel and petrol is still very high compared to the previous fiscal year due to inflation has exceeded 38 percent.