In the latest development, the government has decided to create an SPV (Special Purpose Transmission Plan) and in this regard, parallel negotiations will be started to import raw materials from Russia on a long-term basis.
The processing of Russian raw materials has shown that consumers can benefit up to Rs1.30, while the Pakistani economy can benefit from $8 million per cargo on Russian oil compared to oil imported from the Middle East, which can be up to 100,000 tons.
If refineries are upgraded in the next four years, these benefits can triple, but the Russian oil experiment has also shown that there are many new challenges in cleaning it, which will be raised in the discussions with the Russian side.
It’s been three months since Russian oil cargo arrived and only 50 percent of it has been refined so far.
It should be noted that after the oil agreement between Pakistan and Russia, so far two ships carrying Russian crude oil have arrived in Pakistan.
What does the Minister of State for Petroleum say?
In this regard, Minister of State for Petroleum Musaddiq Malik said that he could not immediately say how much Russian oil would benefit; the prices would change only after the continuous supply of Russian oil.
He said that our target is that one-third of the crude oil comes from Russia at a discounted price, when we achieve our target, the oil will be at a discounted price, the actual price cannot be told at this time, but it will make a big difference and the effect will reach the pockets of the people.