Kuwait has extended the oil credit facility for Pakistan by two years.
According to sources, this facility has been provided by Kuwait Petroleum to Pakistan State Oil (PSO).
Kuwait’s ambassador met with Federal Minister for Petroleum Ali Pervaiz Malik in Islamabad. During the meeting, Ali Pervaiz Malik stated that Prime Minister Shehbaz Sharif, with the support of Kuwait and other brotherly countries, has succeeded in implementing difficult economic reforms.
The Kuwaiti ambassador noted that under the leadership of Prime Minister Shehbaz Sharif, Pakistan has achieved economic progress. Both sides agreed to strengthen bilateral cooperation in the energy sector.
The Federal Petroleum Minister expressed gratitude to Kuwait for its special concession to Pakistan and mentioned that Prime Minister Shehbaz Sharif holds great love and respect for the people of Kuwait, the Emir, and the Crown Prince.
Inflation Under Control – Petroleum Minister
Later, in a media talk in Islamabad, Federal Minister Ali Pervaiz Malik said that the reduction in electricity prices was announced last month. He added that the entire world is appreciating Pakistan’s difficult but positive economic decisions. Pakistan’s rating has been upgraded by an international agency, and the Pakistan Minerals Investment Forum became a global-level event.
He further said that the government and the Prime Minister are fulfilling their responsibilities. “While making tough decisions, we will restore Pakistan’s lost stature,” he said, adding that inflation is now under control. He highlighted that the federal cabinet had approved a gift for the people of Balochistan — a highway from Karachi to Chaman — in its meeting yesterday. Everyone considers this road vital for the development of Balochistan. Instead of reducing petroleum prices, the funds will be used to complete this highway.
He noted that the benefits of economic progress are reaching the people and that unity and solidarity must be maintained for Pakistan’s development. He assured the public that the Prime Minister is well aware of the economic hardships faced by the common man. “That is why we have reduced petrol and diesel prices by 30 to 40 rupees during our current tenure,” he said, adding that petroleum prices in Pakistan remain lower than in other countries in the region.
The Federal Minister said that if further relief becomes available in the global market in the near future, the Prime Minister — who is deeply concerned for the people — will, God willing, pass on the relief to the public.
