FTO Coordinator hails govt decision to import Russian crude oil with local currencies.

ISLAMABAD -- Coordinator to Federal Tax Ombudsman Meher Kashif Younis Tuesday hailed the government decision to import crude oil from Russia in currencies of friendly countries as mutually agreed by the two countries.

it was good omen that Pakistan would pay in the currencies of friendly countries which he added would definitely ease dollars pressure on either sides and help pave way for further strengthening the existing economic cooperation and bilateral relations, he said in a press release.

He said agreements between both the sides would pay dividends in the days to come and appreciated that government wanted to import 35% of its total crude oil requirement from Russia.

He said Pakistan depended on oil from Gulf countries, mainly due to close political and friendly ties, which often extended facilities like deferred payments, and that route was cheaper logistically given proximity to the Strait of Hormuz.

Meher Kashif said earlier recent decision of government was also good one for direct...