'They Have Reserves, We Don't': Pakistan Admits India's Upper Hand As Fuel Crisis Worsens | WATCH
Pakistan's Petroleum Minister Ali Pervaiz Malik admitted that India has an upper hand in managing the fuel crisis due to its forex buffers and strategic reserves, while Pakistan is struggling. Pakistan slashed petrol prices by Rs 80 per litre, funded through the government's petroleum levy.
Pakistan is struggling to contain the fallout of the fuel crisis, with oil prices surging to $126 per barrel. The country's Petroleum Minister Ali Pervaiz Malik blamed the stringent bailout conditions imposed by the International Monetary Fund (IMF) for Pakistan's current situation. Malik claimed that India has 600 arab dollars worth of reserves and maintains strategic reserves, cushioning the crisis. In contrast, Pakistan has only commercial reserves, with crude worth five to seven days and refined product lasting 20-21 days. Pakistan slashed petrol prices by Rs 80 per litre, bringing it down to Rs 378, funded through the government's petroleum levy. India's petrol and diesel prices have remained relatively stable due to cuts in central excise duties.
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