Pakistan to Import Petrol from UAE To Ensure Availability of Fuel

Highlights: 

• Pakistan to import 1.5 million tons of petrol from UAE
• Work on an inter-governmental agreement (IGA) underway
• Pak aiming to secure a 5-8 year import deal with UAE

Pakistan is currently in talks to import 1.5 million tons of petrol per year from the UAE. 

According to a report by a national daily, the Government is working on an inter-governmental agreement (IGA) for importing petroleum products.

Government decides to write letter to UAE government in current week for initiation of process to sign an inter-governmental agreement (IGA)

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The import will be on a government-to-government (G2G) basis. 

A 5-8 Year Deal With UAE

Pakistan is aiming to secure a 5-8 year deal in which 30 cargoes of petrol (mogas) in 1 year or 2.5 to 3 cargoes a month would be imported from the UAE. 

Pakistan has already signed the same IGA template with Oman, Qatar, Saudi Arabia, and other countries. 

Pakistan’s Sustainable Availability of Petroleum 

Once the deal is secured, it will improve Pakistan’s sustainable availability of petroleum products.

Pak – UAE deal will also provide monetary ease regarding premiums on the import of petroleum products.