Kochi: A Pakistani Minister has praised India’s strategies in dealing with fuel crisis amidst shoot up in fuel prices triggered by Iran conflict.
Petroleum Minister Ali Pervaiz Malik said India stood at a high-level compared to Pakistan following fuel prices crossing 122 dollars per barrel.
Mallik attributed it to India’s strategic oil reserves and adequate forex reserves that helped New Delhi absorb the impact of the oil disruption due to the blockade in the Strait of Hormuz, NDTV reported quoting Mallik speaking to a local channel.
He blamed the harsh bailout conditions imposed by the International Monetary Fund (IMF) for Pakistan’s current situation.
Malik lamented over Pakistan not having strategic oil reserves like India which has 60-70 days of reserves while Pakistan has only commercial reserves for five to seven days.
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