September 24, 2023
Finance Pakistan

Russian Council To Arrive At Pakistan Tomorrow

A high-level council from Russia, comprising its minister for power, will arrive at Pakistan on Tuesday to accompany the 8th session of Pakistan Russia Inter-Governmental Commission (IGC) on Trade, Economic, Scientific and Technical alliance to be clasped on 18-20 January 2023 in Islamabad.

The commission will intervene on discounted oil and liquefied natural gas (LNG) bargains during their stay.

Referring to citations, the announcement said that the investment in crude oil and petroleum derivatives at a 30% bargain from Russia will be examined and conversations on the investment of gas will furthermore be held.

If Pakistan is able to secure deals at discounted rates, this would allow the cash-strapped country save to the tune of $2 billion on an annual basis, the report added. 

Earlier, Business Recorder had reported that the commission  will be headed by its Minister for Energy, N G Shulginov, while Minister for Economic Affairs Sardar Ayaz Sadiq will lead the Pakistani team. 

Technical teams of both countries will discuss matters related to trade and investment, agriculture, energy, customs, industry, education, science and technology, information and communication technologies, communication (roads and postal service), railways and finance.

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