Monday, 20 March 2023, 09:59:41 pm
Analysts hope Pak- Russia cooperation in energy sector will be beneficial for both countries
January 20, 2023

Almas Haider Naqvi (Senior Journalist): It is very significant development that happened today when Pakistan and Russia have agreed to strengthen their bilateral relations especially in energy cooperation. The successful conclusion of 8th session of Pakistan-Russia Inter-governmental Commission that held in Islamabad has set a future road map with a set time line which will form the foundation for future work and it is to be finalized in 2023. Another important development that was discussed during the meeting is to find innovative ways of doing business through barter system. The measure will help Pakistan to save foreign exchange in billions of dollar as we are already facing an acute shortage of dollars. The successful consensus on technical specifications about oil and gas trade transactions will mutually benefit both the countries.

Dr. Gulfraz Ahmed (Energy Expert): The alignment of bilateral relations between Pakistan and Russia continued for several years. The relations were cemented during the visit of former Prime Minister Imran Khan. The incumbent government is very active and desirous to enhance bilateral relations with Russia especially in energy cooperation. The recent visit of a high level delegation of Russia and its successful conclusion will have far reaching and positive impacts on economy of Pakistan. Under the agreed framework, Pakistan will be able to acquire petroleum products, LNG and wheat at cheaper rates that will help in saving billions of dollars in foreign reserves. Russia on the other hand is very keen and desirous to maintain good relations with Pakistan. Overall, the future of Pakistan-Russia seems to very positive and will be fruitful for both countries.