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The newly acquired oil tanker by Pakistan National Shipping Corporation (PNSC), MT Khairpur has reached Karachi port, which brings the number of oil tankers in PNSC fleet to six.
The newly acquired vessel is over five years old. After inspecting the vessel, Federal Minister for Ports and Shipping Ali Zaidi said another oil tanker had been added into PNSC’s fleet and added this would provide relief in the freight Pakistan had to pay for oil imports.
Zaidi said exploration and drilling activities in the sea were on and a depth of 5392 meters had already been reached. “Confirmed details regarding oil and gas reserves would be received within two weeks.”
The Minister for Maritime Affairs said Pakistan had to repay $9.09 billion this year, while a sum of $27 billion had to be repaid in next two years. “PTI government only approached IMF so that loans taken by previous governments could be repaid.”
Ali Zaidi said government could not provide relief in the rates of electricity and gas, as this would compel the government to take more loans. Talking about the circular debt, Minister said the issue would be solved by 2022.