The recent decline in continuation of bearish trend of oil prices at international level augurs well for Pakistan’s economy which spends a huge sum of $15 billion on oil imports. Currently oil prices are at $47 per barrel and as reported the government has succeeded in an arrangement with Saudi Arabia in which it will sell us oil at $40 per barrel. This much decline in oil prices will almost half the import expenditure on oil and will give our economy enough money to be utilised on other profitable, productive and development projects. One can only hope that the government will do its best to utilise this opportunity for growth.
FARVAT MALIK
Lahore
