Karachi:
Persistently high crude oil prices are likely to weigh heavily on Pakistan’s economy, but there is little the country can do about it.
However, by increasing the domestic production of petroleum products such as diesel, it can avoid paying large premiums to foreign companies for the purchase of refined products.
Expensive imports of energy products such as crude oil, gasoline, diesel and liquefied natural gas (LNG) have eroded the economy, leaving millions of Pakistanis at breakneck…
