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Pakistani Finance Minister Ishaq Dar recently said Pakistan wants to buy oil
from Russia at the same discount as India, according to the Russian Satellite News Agency on October 18.
Dahl made the remarks at a press conference in Washington, D.
C
.
, just after attending the annual meetings of the World Bank and the International Monetary Fund (IMF) and about to conclude a four-day visit to the United States that began on the 13th.
The finance minister said he believed Western governments would not object to Pakistan's oil purchases from Russia
.
He said the latest floods had worsened Pakistan's finances and killed more than 1,700 people and caused $32 billion
in economic losses.
Screenshot of the report of the Russian Satellite News Agency
Dahl has been advocating that Pakistan buy oil
from Russia.
Last month, he stressed the need to "fight" from the West in order to receive "equal treatment"
with India on the issue of Russian oil imports.
The minister said a 20 to 30 percent discount on oil purchases from Russia would be beneficial
for Pakistan's flood-damaged economy.
He added that Pakistan currently needs about $16 billion for relief and reconstruction efforts
.
The Russian Satellite News Agency mentioned that before Dahl's remarks, the IMF and the World Bank lowered Pakistan's economic growth forecasts
.
The country is facing severe inflation, which has accelerated for six consecutive months, with the consumer price index (CPI) rising 27.
26%
year-on-year in August.
Pakistan's average inflation rate is expected to reach 23 percent in fiscal 2023, the World Bank said this month, largely due to flood-related food and commodity supply disruptions and high international energy prices
.
During the Shanghai Cooperation Organization summit in Samarkand last month, Pakistani Prime Minister Shahbaz Sharif met with Russian President Vladimir Putin to discuss Pakistan's oil purchases
.
According to Pakistani officials, Pakistan has proposed to Russia to buy oil through "deferred payment"
.