Pakistan all set to get discounted Russian oil: PM
Pakistan's Prime Minister Shehbaz Sharif said yesterday that everything was set for his country to receive a shipment of discounted Russian oil.
"As we speak, the Russian oil is being loaded to arrive here," he told the parliament.
Petroleum Minister Musadik Malik told Reuters last week that Pakistan had made its first purchase of cut-price Russian crude.
The discounted purchase offers much needed respite to cash-strapped Pakistan, which has been struggling to avert a balance of payments crisis as it awaits an IMF deal.
Foreign exchange reserves at the country's central bank have fallen to barely cover a month of controlled imports. Energy imports make up the majority of its external payments.
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