Russia is willing to supply petrol to Pakistan on deferred payments, a gesture that would provide a breathing space to flood affected country facing economic crisis.

A considerable part of Pakistan’s foreign exchange reserves is utilized to import petroleum products.

Whereas, the supply of oil on deferral payment wouldn’t only balance the forex reserves but also save the country from being defaulted on international obligation related to repayments of loans.

The proposal intended days after Shehbaz Sharif PM conducted a meeting with Vladimir Putting Russian President in Sanarkand on Shanghai Cooperation Organization (SCO).

Matters related to oil, gas and wheat supplies were discussed by both the parties during the meeting.

Moreover, no objection was raised upon the proposal amid economy of Pakistan woes after hovac floods.

However, government of Pakistan is yet to confirm the proposal acceptance officially.

Russia is ready to defer payments and ship gasoline to Pakistan, a gesture to give the crisis-hit country a breather

A significant portion of Pakistan’s foreign exchange reserves is used to import petroleum products.

On the other hand, oil deliveries in the event of deferred payments would not only balance foreign exchange reserves, but also save the country from defaulting on international debt related to loan repayments.

The proposal was intended just days after Prime Minister Shebaz Sharif met with Russian President Vladimir Putting in Sanarkand on the Shanghai Cooperation Organization (SCO).

Issues related to oil, gas and wheat shipments were discussed by both parties during the meeting. Moreover, Pakistan’s economy was struggling following the Hobbax floods, so the proposal was not challenged.
However, the Pakistani government has yet to formally confirm its acceptance of the proposal.c