Wafi Energy Pakistan Ltd, a leading Saudi-based energy company, on Monday signalled plans to invest up to $100 million in Pakistan over the next two to three years to expand its retail footprint and storage capacity, with a focus on network growth, infrastructure development, and technology-driven improvements.
The development came during a high-level meeting between Finance Minister Muhammad Aurangzeb on Monday and a delegation of Wafi Energy Pakistan Ltd
The meeting was held today at the Finance Division with the Wafi Energy Pakistan Ltd delegation led by Javaid Akhtar, Chief Finance Officer, Asyad Group (Board Member), Wafi Energy Pakistan Ltd, and included Zubair Shaikh, Chief Executive Officer, and Zarrar Mahmud, Chief Finance Officer, Wafi Energy Pakistan Ltd.
“The interaction provided an opportunity to review the company’s current operations, future investment outlook, and matters relevant to the oil marketing and energy sector,” read the statement.
During the meeting, the finance minister emphasised that sustained macroeconomic stability remains the cornerstone of the government’s economic strategy and is essential for maintaining investor confidence. He noted that improvements in foreign exchange availability are a direct outcome of broader macroeconomic discipline and reforms, and that strengthening external buffers will enable smoother facilitation of legitimate business transactions, including dividend repatriation and cross-border payments.
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Aurangzeb observed that improving macroeconomic indicators are already translating into greater confidence among both domestic and foreign investors, and underscored that such developments represent fundamental elements of a healthy investment climate. He highlighted that local investor participation plays an important role in further encouraging foreign investment inflows.
The discussion also covered the role of public-private partnership models and structured finance as effective mechanisms for delivering large-scale infrastructure projects. The finance minister noted that successful experiences at the provincial level demonstrate the potential of such models and emphasised the need to further encourage structured finance solutions and stronger engagement with the banking sector to support infrastructure development.
Meanwhile, the delegation informed the finance minister that Wafi Energy Pakistan Ltd has benefited from improved operating conditions amid greater macroeconomic stability and shared its intention to expand its retail and storage footprint over the coming years as part of a broader growth strategy.
The delegation reiterated its confidence in Pakistan’s economic outlook and highlighted growing interest among international and regional stakeholders in expanding engagement with Pakistan.
The delegation briefed Aurangzeb on Wafi Energy Pakistan Ltd’s current operations in the country and shared that the company operates an extensive nationwide retail network, supported by ongoing investments in modernisation and efficiency.
It was noted that improved macroeconomic conditions and greater predictability in the operating environment have enabled the company to resume and scale up investment activity following recent business integration.
The delegation further informed that Wafi Energy Pakistan’s upcoming investments are aimed at strengthening supply resilience, improving service standards, and contributing to the long-term growth of the energy sector in Pakistan.
The delegation highlighted that Wafi Energy Pakistan Ltd has already undertaken significant digitisation initiatives across its operations as part of its broader modernisation strategy, reflecting its commitment to transparency, efficiency, and regulatory compliance.
The delegation also brought up matters related to the operating environment of the oil marketing sector and emphasised the importance of a stable, transparent, and predictable policy framework to support long-term investment decisions. They noted that clarity and consistency across regulatory, fiscal, and operational domains remain important for sustaining investment momentum in a capital-intensive and highly regulated industry.
In addition, the delegation drew attention to certain fiscal and taxation-related considerations and underscored the importance of a clear, consistent, and predictable framework to enhance business planning and investment confidence. They further observed that continued engagement between the government and industry stakeholders would be beneficial in aligning policy measures with broader investment and reform objectives.
The finance minister reaffirmed the government’s commitment to privatisation and outsourcing as a core policy direction, emphasising that the private sector is better positioned to manage and operate commercial assets efficiently. He noted that recent privatisation initiatives have demonstrated strong investor interest and emphasised that future transactions will follow transparent, competitive, and well-publicised processes in line with the prime minister’s directives.
The minister also referred to ongoing high-level strategic engagement with international partners, including Saudi Arabia, noting that such engagements provide valuable platforms for strengthening economic cooperation and investment ties.
He reiterated that reforms, privatisation, digitisation, and investment facilitation form interconnected pillars of the government’s broader economic agenda and assured the delegation that issues raised during the meeting would be examined through appropriate institutional mechanisms to support long-term growth and investor confidence.
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