Govt reviews energy security, investment plans with OICCI, PSO

August 29, 2026 (MLN):  The government is working to strengthen exploration, modernize refining infrastructure and advance reforms across the petroleum sector.

Federal Minister for Petroleum Ali Pervaiz Malik made these remarks during separate meetings held in Karachi on Friday with the leadership of the Overseas Investors Chamber of Commerce and Industry (OICCI) and the management of Pakistan State Oil (PSO), where he reviewed key developments in the petroleum sector, energy security, investment opportunities and ongoing reforms.

During his visit to OICCI, the Minister met the Chamber's senior leadership, industry stakeholders and representatives of foreign investors, with prominent media representatives also in attendance for discussions on developments, reforms and investment opportunities in the petroleum sector, said a press release issued.

The Minister briefed participants on the government's efforts for energy security, including bonded storage and strategic petroleum reserves initiatives.

Ali Pervaiz Malik said the government's objective was to build a petroleum sector that was more competitive, investment-oriented and responsive to Pakistan's long-term energy requirements, adding that reforms were being pursued across exploration, refining and downstream markets while engaging closely with industry stakeholders to address practical challenges and create an environment capable of attracting substantial domestic and foreign investment.

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

Yousaf Hussain, President OICCI, said the petroleum sector was critical to Pakistan's economic activity and investment ecosystem, appreciating the Minister's engagement with the business community and expressing confidence that continued dialogue could help address practical industry matters while supporting the government's reform and investment objectives.

M. Abdul Aleem, Chief Executive and Secretary General OICCI, highlighted the importance of a predictable operating environment for foreign investors, stating that predictability in the regulatory and commercial environment was essential for long-term investment decisions, and that continued government-industry engagement along with timely resolution of outstanding industry matters could further strengthen investor confidence and support investment in Pakistan's petroleum sector.

OICCI reiterated its commitment to continued dialogue with the government and relevant stakeholders on policies and measures supporting investment, energy security and sustainable growth in Pakistan.

Separately, the Federal Minister held a meeting with the management of PSO at PSO House, Karachi, focusing on national energy security, supply chain resilience, strategic storage expansion and digital transformation, with discussions also covering measures to strengthen the country's fuel supply infrastructure and enhance the resilience of the petroleum supply chain.

The Minister commended PSO for ensuring uninterrupted fuel supply and appreciated the company's role in maintaining stability in the country's petroleum supply chain, reaffirming the government's support for modernisation of the petroleum sector and infrastructure development aimed at strengthening energy security and improving operational efficiency.

He emphasised the importance of strengthening strategic storage capacity, enhancing supply chain resilience and leveraging digital technologies to improve efficiency and responsiveness across the petroleum sector.

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