State Minister for Petroleum Musadik Malik said on Monday that Russia has agreed to provide crude oil at discounted prices, a development that could potentially bring down the energy import cost for Pakistan.
Speaking at a press conference, he stated that for a 1% increase in economic growth rate, the country’s energy needs rise by 1-1.5%.
“For 5-6% growth rate, our energy needs will grow by 9-10%,” he said.
Last week, Malik and the petroleum secretary along with a delegation travelled to Russia to hold discussions on oil and gas.
