Wednesday November 29, 2023

35pc less rate from global market: Japanese company offers to sell oil, gas to Pakistan

By Our Correspondent
March 30, 2023

TOKYO: A renowned trading company of Japan with its Irish partner has extended an offer to Pakistan to get Russian oil besides LNG from Nigeria at 35 percent less rate than the global market.

The representative of the Japanese company gave this offer to the ambassador of Pakistan in Tokyo in a meeting. This meeting was held by a Pakistani businessman residing in Japan, the President of Pak-Japan Business Council Rana Abid Hussain. The Japanese representative briefed the envoy on oil and LNG. He said that his Japanese company and

Ireland’s partner company possess the licence to sell Russian oil and Nigerian LNG. The Japanese representative said if Pakistan was interested in purchasing oil and gas, they could sell both these items to Pakistan at 35 percent less rate than the global market. On this occasion, Pakistani envoy Raza Bashir Tarar said that Pakistan can consider this offer and will inform the ministry concerned. When he gets an answer, the Japanese company would be informed in this regard. President Pak-Japan Business Council Rana Abid Hussain said that presently Pakistan is facing a serious economic crisis and forced to spend large foreign exchange on the import of oil and gas. He said if global laws allow, there should be no problem for Pakistan to buy inexpensive oil and gas.