KARACHI – Pakistan is engaged in negotiations with Russia to import another cargo of oil after successful processing of the first-ever oil cargo imported in June this year.
An official of the Pakistan Refinery Limited (PRL) confirmed the development, saying negotiations are under way to purchase another spot cargo.
In June this year, Pakistan imported 100,000 tons of Russian crude oil under a government to government (G2G) agreement as Islamabad was exploring import of energy at cheaper rates.
The development comes days after reports suggested that Pakistan has suspended Russian crude oil purchases because the local refineries failed to extract as much petrol and diesel from the Russian crude as they extract from the Gulf crude.
Media reports quoting sources said that financial benefit to the Pakistan Refinery Limited from this import was somewhere between Rs0.50 and Rs1 per litre, which is too little to make any difference.
Import of Russian oil has not made any major difference so far as shipment did not lead to a drop in rates. In contrast, the outgoing government jacked up petrol and diesel rates by up to Rs20 per litre from August 1.
Pakistani rupee continues to show resistance against US dollar in the open market on Monday amid positive economic indicators.
On first working day of the week, the US dollar in open market stands at 284 for buying and 287.15 for selling.
Euro price moves up to 310.71 for buying and 311.31 for selling. British Pound rate stands at 357.55 for buying, and 358.2 for selling after marginal increase.
UAE Dirham AED stands at 77.55 whereas the Saudi Riyal also witnessed slight fall and new price stands at 75.94.
|UK Pound Sterling||GBP||357.55||358.2|
|Hong Kong Dollar||HKD||36.52||36.62|
|New Zealand Dollar||NZD||170.9||172.9|
KARACHI – Gold rates in Pakistan continue to climb higher on Monday amid surge in global trend.
On Monday, the price of 24-karat gold stands at Rs215,500 per tola, and 10 gram costs Rs184,750 per tola.
Single tola of 22 Karat Gold price stands at Rs198,550, 21 karat rate for per tola is Rs189, 525 and 18k gold rate stands at Rs162,450.00 for 1 tola.
In the international market, the price of bullion hovers around $2010 per ounce with incrrease of around $8.
|Lahore||PKR 215,500||PKR 2,610|
|Karachi||PKR 215,500||PKR 2,610|
|Islamabad||PKR 215,500||PKR 2,610|
|Peshawar||PKR 215,500||PKR 2,610|
|Quetta||PKR 215,500||PKR 2,610|
|Sialkot||PKR 215,500||PKR 2,610|
|Attock||PKR 215,500||PKR 2,610|
|Gujranwala||PKR 215,500||PKR 2,610|
|Jehlum||PKR 215,500||PKR 2,610|
|Multan||PKR 215,500||PKR 2,610|
|Bahawalpur||PKR 215,500||PKR 2,610|
|Gujrat||PKR 215,500||PKR 2,610|
|Nawabshah||PKR 215,500||PKR 2,610|
|Chakwal||PKR 215,500||PKR 2,610|
|Hyderabad||PKR 215,500||PKR 2,610|
|Nowshehra||PKR 215,500||PKR 2,610|
|Sargodha||PKR 215,500||PKR 2,610|
|Faisalabad||PKR 215,500||PKR 2,610|
|Mirpur||PKR 215,500||PKR 2,610|