Pakistan considering buying Russian Oil & Gas

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Pakistan is going through a crisis. The government is trying to juggle multiple things at hand and truth be told, you can’t keep all the balls to yourself. 

Its a give and take mechanism in world politics, and Pakistan might have to learn it the hard way.  Every since the new coalition led government of Shahbaz Sharif has come to power, they have had to face multiple predicaments.  

From the falling rate of the rupee, to a mammoth import bill and now finishing the subsidy on fuel has all lead to ballooned inflation rates throughout the country. All this has forced the government to do exactly what the previous government was trying to achieve; Buy cheap energy from Russia. 

The previous government claims that they were getting closer to a deal in which they could import oil & gas at a cost 30 percent cheaper than the market rate through Russia, which would’ve massively helped Pakistans energy crisis and import bill. 

Obviously such things come at a price. The USA simply doesn’t like Pakistan banking towards Russia to meet its need which would then mean Russia would have a greater amount of influence on the country. Something which the US simply can’t afford to let happen.  But like I said, Pakistan can’t have all the balls, you can only juggle as much as your capacity.

Regardless, the country seems to be considering very seriously the possibility of cheaper oil imports. 

Sources have told Business Recorder an inter-ministerial meeting is expected to be held in Ministry of Foreign Affairs (MoFA) on Monday (today) to discuss different aspects of the proposal.

The source also quoted to Business Recorder, “Prime Minister has desired that the Foreign Secretary, in consultation with the relevant Ministries/ Divisions/ Departments, conduct a comprehensive examination of the proposal, as to whether the purchase of oil and gas from Russia would be in our interest, both from economic and political aspects. A detailed report has been sought covering technical, legal and political of the proposal”. 

If this is the case, then the government should think of a broader perspective of things and should know that such a consideration would mean that Pakistan is changing its polarity away from the US. This would also mean that Pakistan is choosing itself over others, but then again, to what cost? That, we are not sure of.

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Shaafay Zia
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