LAHORE: Terming the successful conclusion of 8th session of Pakistan-Russia Inter-governmental Commission as a good omen, analysts said that consensus on technical specifications about oil and gas trade transactions will mutually benefit the two countries.

Dr Gulfraz Ahmed, Energy Expert said the recent visit of a high level delegation of Russia and its successful conclusion will have far reaching and positive impacts on economy of Pakistan.

Under the agreed framework, Pakistan will be able to acquire petroleum products, LNG and wheat at cheaper rates that will help in saving billions of dollars in foreign reserves.

Russia on the other hand is very keen and desirous to maintain good relations with Pakistan. Overall, the future of Pakistan-Russia seems to very positive and will be fruitful for both countries, he added.

Analyst Almas Haider Naqvi said that successful conclusion of 8th session of Pakistan-Russia Inter-governmental Commission that held in Islamabad has set a future road map with a set time line which will form the foundation for future work and it is to be finalized in 2023.

Another important development that was discussed during the meeting is to find innovative ways of doing business through barter system, he added.

Copyright Business Recorder, 2023