Iranian oil imports may save Pakistan $340mn annually: report
Key takeaways
- Add ARY News on Google AAResize ISLAMABAD: Pakistan could save up to $340 million annually on crude oil imports if international sanctions on Iran are lifted, according to a research report by Topline Securities Ltd.
- In its report titled “Pakistan Strategy – What If Iran Sanctions Are Lifted?
- According to the report, before international sanctions on Iran were tightened in 2012, bilateral trade between the two countries exceeded $1.2 billion in FY2010.
Why this matters: local context for readers following news across Pakistan and the region.
Add ARY News on Google AAResize ISLAMABAD: Pakistan could save up to $340 million annually on crude oil imports if international sanctions on Iran are lifted, according to a research report by Topline Securities Ltd.
In its report titled “Pakistan Strategy – What If Iran Sanctions Are Lifted? Implications for Pakistan from a Historical Perspective,” the brokerage house said the restoration of formal trade with Iran could significantly benefit Pakistan by reducing its import bill and expanding bilateral trade.
According to the report, before international sanctions on Iran were tightened in 2012, bilateral trade between the two countries exceeded $1.2 billion in FY2010. Pakistan remained in a trade deficit until FY2011, with the deficit reaching $813 million in FY2010, largely due to higher fuel imports from Iran.