KARACHI: Petroleum Minister Ali Pervez Malik held separate meetings with the leadership of the Overseas Investors Chamber of Commerce and Industry (OICCI) and Pakistan State Oil (PSO) in Karachi, where discussions focused on energy security, investment opportunities and ongoing reforms in the petroleum sector.
The OICCI meeting was attended by representatives of the industrial sector, foreign investors and prominent media representatives.
Ali Pervez Malik said the government was working to develop a competitive and investor-friendly petroleum sector in line with the country’s long-term energy requirements. He said reforms were under way in exploration, refining and downstream markets.
The minister said bonded storage and strategic petroleum reserves were among the government’s measures aimed at strengthening energy security.
The OICCI said continuity and transparency in the policy and taxation framework, along with security, were important for increasing investor confidence. It added that continued dialogue between the government and industry could help resolve practical issues and promote investment.
The OICCI president said stability and continuity in the regulatory and commercial environment were essential for attracting foreign investment.
During the meeting with PSO leadership, matters related to national energy security, the fuel supply chain and strategic storage were discussed.
Ali Pervez Malik appreciated PSO’s efforts to ensure an uninterrupted supply of fuel across the country.
He stressed the need to increase strategic storage capacity and further strengthen the supply chain. The minister also called for greater use of digital technologies in the petroleum sector to improve efficiency and ensure a timely response to challenges.
