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Fuel export to Pak hits roadblock

business Updated: Oct 17, 2012 22:26 IST
HT Correspondent

India's efforts to export petrol, diesel and jet fuel to Pakistan hit a roadblock on Wednesday as the two nations failed to arrive at a consensus over the price at which these fuels should be sold by New Delhi to Islamabad.

Senior government sources revealed that during talks with oil minister S Jaipal Reddy, his Pakistani counterpart Asim Hussain wanted price formulations to be presented before Islamabad can decide on petrol, diesel or jet fuel (ATF) imports.

Indian state oil firms, with refineries and oil depots near the border, can export fuel to Pakistan but cannot sell petrol or diesel at rates below what they charge domestically.

Pakistan imports 4-5 million tonnes of diesel from Kuwait every year. It has preferred the fellow Islamic nation over India as it gets a substantial discount as well as an extended credit period to make payments.