Govt urged to examine option of Iranian oil import

President of the Korangi Association of Trade and Industry (KATI), Muhammad Ikram Rajput, has urged the government to seriously examine the possibility of importing low-cost oil and gas from Iran through local currency transactions, saying such a move could help meet the country’s energy needs at lower cost, ease pressure on foreign exchange reserves, and strengthen the national economy. Rajput said Pakistan should move swiftly to capitalize on any potential easing of sanctions on Iran following ongoing U.S.-Iran negotiations. He stressed that, as an energy-importing country, Pakistan needs access to affordable sources of oil and gas to support its industrial, agricultural, transportation, and domestic sectors.