Russian crude oil first consignment arrives at Karachi port

Shahbaz Sharif 

Prime Minister Shahbaz Sharif took to twitter and jubilantly announced the arrival of first  Russian cargo carrying forty five thousand ton of discounted crude oil. Fourty five thousand ton crude oil will be refined at Pakistan refinery limited. When asked from petroleum minister Dr Mussadaq Malik by a news anchor about the price of oil, in response, he did not disclose the price.

Daily petroleum consumption of Pakistan 

Pakistan's daily oil consumption is three lac barrels and Pakistan import 80% of petroleum and crude oil for its needs from Saudi Arabia,  UAE and Kuwait weighing heavily on its import bill.

Analysts are of the view that oil prices will not come down with the arrival of one cargo carrying fourty five thousands ton of crude oil.

Petroleum prices after Russian oil arrival 

Petroleum prices will not  one down immediately.

Prices will only come down when Pakistan permanently receive cargos in future. Moreover, government officials say that first cargo is 'trial cargo'. After refining then it would be found that how much petroleum items and furnace oil are produced.

Analysts say that Russian crude oil produces more furnace oil  as compared to other petroleum items as our refineries are based on old technology.

While on the other hand Indian refineries produces more petroleum items than sulphur from Russian crude oil being based on advanced technology. During Russian and Europe row over Ukrain war, European countries put sanction on Russian oil. India imported Russian oil on cheaper rates from Russia and further exported to European markets making exorbitant profits. 

Punjab government increased pay to 30%

Interim Punjab government headed by Mohsin Naqvi approved Punjab budget for the first four months.

Punjab government employed pay have been increased by 30%.