The first shipment of discounted Russian crude oil has arrived at the port city of Karachi, Pakistan Prime Minister Shehbaz Sharif announced on Sunday, a development that is expected to provide relief to the people hit by skyrocketing inflation.

Pakistan, which is currently grappling with high external debt and a weak local currency, is hoping that snapping crude at discounted rates from Russia will stabilise oil prices in the country.

Petrol now costs Rs 262 per litre in the country as per the latest revision.
Source: PTI