ISLAMABAD: A delegation led by State Minister for Petroleum Musadik Malik will fly to Russia to discuss an agreement for import of oil at cheap price, a move that will help country save dollars and tackle skyrocketing petroleum prices in the country.

Finance Minister Ishaq Dar revealed it in an interview, expressing a hope that tour will be successful. He also hoped that Pakistan would succeed in inking the agreement on favourable terms.

Saying Pakistan will not face any risk of default, the finance minister said that all due payments will be made timely.

Pakistan-Russia oil deal soon, says Dar

Earlier this month, the country’s finance czar said that the US could not stop Pakistan from purchasing the Russian oils.

Addressing a gathering in Dubai on November 13, Dar also said Islamabad aimed at signing the import deal with Moscow on terms similar to those agreed by New Delhi. He said that the US had been conveyed that Pakistan could buy oil from Russian because India was doing the same.

Dar went on to say that it was decided in the meeting that Pakistan could strike a deal to buy Russian oil.