PTI government may have to face yet another economic blow
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ISLAMABAD - PTI government may have to face economic nightmare scenario if the current prices of oil remain at same level or rise in the international market.
The Shell Chief Executive officer Haroon Rashid on Wednesday said the country’s oil import bill could touch $20 billion during the current financial year 2018-19 if the existing price trend continued in the global markets.
Mr Rashid was speaking at the Energy Forum 2018 and recommended the government to lengthen the oil credit facility from the existing 30 days to 90 days which would delay payment of $2 to $4 billion during a period when the country was seeking a bailout from the IMF, reports *Express Tribune.*
He shared Pakistan’s oil sector had undergone a major change since previously only three oil marketing companies were operating, which had now increased to twenty-five.
The Shell CEO said if the oil pipeline infrastructure was overhauled in Pakistan, it would contribute to a windfall of $50 to $100 million which would be passed on to consumers.
