Petroleum Minister Reviews Energy Security, Investment and PSO Reforms

KARACHI: Petroleum Minister Ali Pervaiz Malik met separately with representatives of the Overseas Investors Chamber of Commerce and Pakistan State Oil on Friday to discuss key sector issues. Discussions covered key issues in the petroleum sector, including energy security, investment prospects and reforms to strengthen Pakistan’s energy infrastructure.

While visiting OICCI, the petroleum minister engaged with the chamber’s leadership, industry stakeholders and foreign investors. Media representatives were also present at the meeting and participated in discussions on reforms and investment prospects in the petroleum sector.

Ali Pervaiz Malik briefed the participants on the government’s plans to expand oil and gas exploration, improve refining facilities and introduce further reforms across the petroleum sector. He also highlighted steps being taken to strengthen energy security, including the development of bonded storage facilities and strategic petroleum reserves.

The minister said the government wants to create a more competitive and investment-friendly petroleum sector that can meet Pakistan’s long-term energy needs.

He said reforms were being introduced across exploration, refining and downstream markets, while the government was also working with industry stakeholders to resolve practical challenges and encourage both local and foreign investment.

OICCI representatives welcomed the government’s engagement with the business community. They said consistent policies, a stable tax system, transparency and better security were important to increase investor confidence.

Yousaf Hussain, President of OICCI, said the petroleum industry has a main part in supporting economic activity and forming investment chances in Pakistan. He said sturdier management between the government and business sector could help disentangle industry dares and make more prospects for investment.

OICCI Chief Executive and Secretary General M. Abdul Aleem also highlighted the essential for a expected regulatory and commercial environment. He said larger policy constancy and suitable solutions to industry-related matters could inspire foreign investors to make long-term investments in Pakistan.

Separately, the petroleum minister met PSO management at PSO House in Karachi. The meeting reviewed national energy security, fuel supply chains, strategic storage expansion and digital transformation.

The minister cherished PSO for keeping a nonstop fuel supply and supporting constancy in the country’s fuel network. He also strained the need to enlarge tactical storage capacity, develop supply chain elasticity and use digital technology to make petroleum operations more efficient.