ISLAM
ISLAM
The government has decided to take advantage of the record fall in the price of crude oil in the world market
The government has decided to take advantage of the record fall in the price of crude oil in the world marke t Summary of advance purchase of crude oil for next 2 years prepared, proposal to purchase 1.5 crore barrels of oil per annum in advance ISLAMABAD (May 12, 2020): The government has decided to take advantage of the record decline in the price of crude oil in the global market. It is suggested to buy. According to media reports, it has been proposed to purchase 30 million barrels of advance oil for two years. The Petroleum Division has sent a summary to the ECC for approval. According to the summary, the price of crude oil in advance contracts will be higher than the current price. If production decreases, the price of crude oil may increase. According to the summary, the country's foreign exchange can be saved by signing oil purchase agreements in advance.
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