Karachi (Commerce Desk) — Federal Petroleum Minister Ali Pervaiz Malik held separate meetings with the leadership of the Overseas Investors Chamber of Commerce and Industry and Pakistan State Oil, during which energy security, investment opportunities and ongoing reforms in the petroleum sector were discussed.
Industrial representatives, foreign investors and media figures attended the meeting of the Overseas Investors Chamber. The Federal Minister said the government is working to develop a petroleum sector that is competitive, investor-friendly and aligned with the country’s long-term energy requirements.
According to Ali Pervaiz Malik, the process of reforms is ongoing in the areas of oil and gas exploration, refineries, and the transportation and sale of petroleum products. Attention is also being given to increasing the capacity of mandated storage facilities and strategic petroleum reserves for energy security.
The Overseas Investors Chamber maintained that policy and tax-system continuity, transparency and security are essential to maintaining investor confidence. The Chamber president said a stable and reliable business and administrative environment is essential for foreign investment.
During the meeting with Pakistan State Oil, matters concerning national energy security, the fuel supply chain and strategic reserves were reviewed. The Federal Minister appreciated PSO’s efforts to maintain an uninterrupted fuel supply in the country.
He said there is a need to increase strategic storage capacity and further strengthen the fuel supply chain, while fully utilizing modern digital technology to improve the performance of the petroleum sector and ensure timely decision-making.