The Foreign Minister of Pakistan, Bilawal Bhutto Zardari reached Russia for two-day official visit. The senior officials of foreign ministry received Bilawal Bhutto on Moscow airport.
According to Foreign office source, Bilawal Bhutto is visiting Russian Federation on invitation of Russian foreign minister Sergey Lavro. The two foreign ministers will spent time together to discuss trade relationships between both the countries.
Read more | Russian Oil will fulfil Pakistan’s domestic and industrial needs
Russian Oil Agreement
Pakistan and Russia also signed the oil agreement according to which Russia will be sending oil and petrol products to Pakistan on discounted rates.
This agreement would help Pakistan in fulfilling its oil needs and strengthening the economy. The Russian delegation visited Pakistan last week to finalised all the terms on oil export. The export of oil and other petroleum products will start from March.
The details of all the payments with state bank of Pakistan has also been fixed. The Russian authorities allowed Pakistan to pay the money in any currency of friendly country.
This agreement was finalised after a lot of visits of both the officials to Pakistan and Russia. The export of Russian oil is the most necessary thing to happen in the current scenario of economy.
Read more | Oil supply agreement between Pakistan and Russia
Pakistan is currently dealing with crises of power, oil and finance. In this situation the help of Russian oil will ease the power supply shortage of Pakistan. This oil will be used in industries to increase import of Pakistan and also be used in power supply to provide enough amount of electricity for people.
It would also be helpful for industrial field of Pakistan to work on manufacturing of importing products to overcome the financial crises of Pakistan and make the country grow faster.