Finance Minister Ishaq Dar said on Wednesday the government was actively considering the option of importing oil from Russia to offset the raging prices of fuel in the country, adding that the government was making efforts to purchase oil from Russia at a price which was lower or at par with India.

“I have takenup the issue [importing Russian oil] in our meeting with US officials during my visit to the US and they [US officials] did not express opposition,” the finance minister said speaking exclusively on Aaj News programme Faisal Aap Ka with host Asma Shirazi.

“We are in crisis mode and we are dealing with it,” the finance minister said and added that it was Pakistan’s right to purchase oil from Russia at cheaper rates.

Dar said that the US official agreed and would have no problem to importing discounted oil due the hardship caused by devastating floods.

Dar clarified that the rupee was still undervalued and it would soon recover to below Rs200 per dollar, which, he said, was “its real value”

He said that the federal government was working to curb smuggling of dollar and had initiated a crackdown on illegal money changers.

Dar said that the country’s foreign exchange reserves will improve in the coming days as the country will get good news on Monday. “We hope that a $1.5 billion agreement with the Asian Development Bank (ADP) will be finalized,” he added.

Lashing out at PTI Chairperson Imran Khan, Dar said that the country’s economy was destroyed during Imran Khan’s regime, adding that if the opposition would not have ousted Imran Khan there would be more losses.

The finance minister revealed that Prime Minister Shehbaz Sharif had decided to resign from his office, however, after PTI chief’s speech in Peshawar the premier changed his decision.