The Hindu Business Line : Pak in talks with Reliance to buy diesel

THE peace initiative between India and Pakistan has acquired an important economic dimension. Pakistan on Tuesday expressed willingness to import diesel from India.

"We import 4.5 million tonnes to 5 million tonnes of diesel every year from Kuwait and other countries. We will be interested in buying diesel from India as it makes more economic sense," the Pakistan Secretary for Petroleum and Natural Resources, Mr Abdullah Yusuf, told presspersons on the sidelines of an oil and gas conference here.

India is surplus in diesel while Pakistan is a net importer of diesel with a domestic shortfall of 4.5 mt per annum. Pakistan has a domestic demand of 7.5 mt, while it has a refining capacity of 3.5 mt.

Mr Yusuf said that the Pakistan National Oil Company is talking to Reliance Industries Ltd to contract diesel from the latter's refinery in Jamnagar, Gujarat.

"We are looking at a scenario which makes more economic sense," Mr Yusuf said. The Pakistan official has already held a round of discussions with the Petroleum Secretary, Mr B.K. Chaturvedi.

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