Energy policy predictability sought

Petroleum minister discusses storage, supply chain resilience with OICCI

ISLAMABAD:

Federal Minister for Petroleum Ali Pervaiz Malik held a meeting at the Overseas Investors Chamber of Commerce and Industry (OICCI) office in Karachi, reviewing key developments in Pakistan's petroleum sector, energy security, investment opportunities and ongoing reforms.

The minister met the chamber's senior leadership, industry stakeholders and representatives of foreign investors. The meeting was also attended by prominent media representatives, who participated in discussions on developments and investment avenues in the petroleum sector. Malik highlighted the government's efforts to strengthen oil and gas exploration, modernise refining infrastructure and advance reforms across the petroleum sector. He also outlined measures being taken to ensure energy security, including bonded storage and initiatives to keep strategic petroleum reserves.

"Our objective is to build a petroleum sector that is more competitive, investment-oriented and responsive to Pakistan's long-term energy requirements. We are pursuing reforms across exploration, refining and downstream markets, while engaging closely with industry stakeholders to address practical challenges and create an environment that can attract substantial domestic and foreign investment," said the federal minister.

OICCI members shared industry perspectives and remarked that consistency of policy and tax framework, along with transparency and adequate security, were important for strengthening investor confidence.

"The petroleum sector is critical for Pakistan's economic activity and investment ecosystem. We appreciate the minister's engagement with the business community and believe continued dialogue can help address practical industry matters while supporting the government's reform and investment objectives," remarked OICCI President Yousaf Hussain.

OICCI Chief Executive and Secretary General M Abdul Aleem underscored the importance of a predictable operating environment for foreign investors. "For foreign investors, predictability in the regulatory and commercial environment is essential for long-term investment decisions. Continued government-industry engagement and timely resolution of outstanding industry matters can further strengthen investor confidence and support investment in Pakistan's petroleum sector," he said.

OICCI reiterated its commitment to continued dialogue with the government and relevant stakeholders on policies and measures that could support investment, energy security and sustainable growth.