Ali Pervaiz Malik meets foreign investors and PSO executives to strengthen energy security, modernise refining, and expand strategic storage capacity.
KARACHI: Federal Minister for Petroleum Ali Pervaiz Malik held separate high-level meetings with the leadership of the Overseas Investors Chamber of Commerce and Industry (OICCI) and the senior management of Pakistan State Oil (PSO) in Karachi on Friday. The discussions centered on driving petroleum sector reforms, bolstering energy security, expanding investment opportunities, and reinforcing supply chain resilience.
During his visit to the OICCI, the minister engaged with senior chamber officials, industry stakeholders, and representatives of foreign investors. Leading media representatives were also present, participating in dialogue regarding sectoral policy updates, ongoing structural reforms, and potential commercial prospects.
Briefing the assembly, Malik outlined the government’s ongoing strategy to boost exploration activities, modernise domestic refining infrastructure, and implement comprehensive structural reforms across the petroleum value chain.
He underscored key policy initiatives targeted at fortifying national energy security, such as the establishment of strategic petroleum reserves and bonded storage facilities.
“Our objective is to build a petroleum sector that is more competitive, investment-oriented, and responsive to Pakistan’s long-term energy requirements,” said the minister.
He further noted that the government is actively pursuing reforms across upstream exploration, midstream refining, and downstream retail markets. He emphasized that continuous engagement with industry stakeholders remains crucial to addressing operational bottlenecks and establishing conditions conducive to attracting significant domestic and foreign capital.
OICCI Calls for Policy Consistency and Predictability
Representatives from the OICCI shared their operational insights and challenges, emphasizing that long-term policy consistency, a stable tax framework, market transparency, and adequate security are vital prerequisites for building investor confidence.
OICCI President Yousaf Hussain welcomed the minister’s direct interaction with the business community, emphasizing the strategic importance of the energy landscape to the broader economy.
“The petroleum sector is critical to Pakistan’s economic activity and investment ecosystem,” stated Hussain, adding that sustained public-private dialogue is pivotal for resolving immediate operational issues while furthering the government’s broader economic agenda.
M. Abdul Aleem, Chief Executive and Secretary General of the OICCI, reiterated the imperative for a predictable regulatory framework.
“For foreign investors, predictability in the regulatory and commercial environment is essential for long-term investment decisions,” Aleem stated. He added that proactive government intervention and the swift resolution of lingering challenges would significantly bolster market sentiment and spur fresh foreign direct investment into Pakistan’s energy industry.
The OICCI reaffirmed its commitment to maintaining close collaboration with state authorities to shape policies that foster investment, strengthen supply chain stability, and support sustainable economic development.
Minister Reviews Strategic Role of PSO
Following his OICCI engagement, Malik convened with the executive management of Pakistan State Oil at PSO House in Karachi.
The agenda focused on safeguard measures for national energy security, supply chain endurance, the expansion of strategic storage infrastructure, and digital transformation initiatives. The attendees also examined actionable strategies to reinforce national fuel distribution networks against systemic shocks.
Malik commended PSO for ensuring uninterrupted nationwide fuel distribution and acknowledged its stabilizing role within the domestic energy ecosystem.
Reaffirming the administration’s backing, the minister pledged ongoing support for modernising infrastructure, expanding storage capacities, and adopting advanced digital solutions to heighten operational efficiency and market responsiveness.
The dual engagements in Karachi underscore the government’s broader strategy: pairing fundamental regulatory reforms with targeted infrastructure investments and private-sector partnerships to secure Pakistan’s long-term energy future.